13 Feb '12, 7am

Slower growth for Singapore life insurance industry in Q4: The life insurance industry's weighted new business p...

The life insurance industry's weighted new business premiums amounted to $542.9 million in the fourth quarter in 2011, inching up just 3 per cent from the same period last year. By Magdalen Ng The life insurance industry's weighted new business premiums amounted to $542.9 million in the fourth quarter in 2011, inching up just 3 per cent from the same period last year. While there was still robust annual premium sales of $386.4 million, up 19 per cent from a year ago, single premium sales fell sharply to $156.5 million, down 23 per cent. Despite the slower growth, Life Insurance Association president Tan Hak Leh said that the industry is still in a strong position. 'We owe this to a combination of the resourcefulness of our industry in delivering pertinent products and quality servicing and consumer confidence in life insurance solutions for their financial plans,' he said.

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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