04 Aug '11, 2pm

Life Insurance Association posts stronger performance of 38% on-year

SINGAPORE: The Life Insurance Association Singapore (LIA) on Thursday announced a total of S$941.5 million in weighted new business premiums for its first half of the year. This is an improvement of 38 per cent over the corresponding period last year. LIA said that the strong performance was due to the increase of sold insurance products. Weighted regular premiums sales hit S$620.2 million, a 31 per cent growth over the same period last year, while single premium business doubled by 54 per cent to S$321.3 million. Total annual premiums for group insurance business also rose by 17 per cent compared with a year ago, amounting to S$671 million. Looking forward, the company has launched a consumer awareness campaign, a 13-week radio series which focuses on the value of fact-find when consumers seek financial solutions for issues such as financial protection, savings and invest...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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