12 Dec '11, 9pm

Zurich Financial to double Singapore life insurance premiums: by Wong Siew Ying SINGAPORE - Zurich Financial Ser...

SINGAPORE - Zurich Financial Services plans to double its life insurance premiums generated in Singapore over the next three years, as part of plans to have emerging markets contribute about half of its new life insurance business by 2013. The insurer has also applied to set up a subsidiary in Singapore and a full licence giving it access to sell a greater variety of life insurance products to a wider group of investors. It currently serves mainly corporations, expatriates or high-net-worth individuals because of regulations that permit it to only target investors who are able to invest at least US$5,000 (S$6,500) a year for 10 years or more. Next year, it hopes to roll out more insurance solutions for Singaporeans and permanent residents, such as savings and retirement offerings. "A year ago, we set a target for new business value for the life business of 30 per cent for ...

Full article: http://www.todayonline.com/Business/EDC111213-0000073/Zur...

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