Singapore's top 50 insurers included in the Singapore Business Review's Insurance Rankings grew by 5.1% in 2021, tapering off from the double-digit growth observed in the previous rankings. This is because in 2021, according to the Ministry of Trade and Industry, life insurers suffered a decrease of 23.5% in their net income brought by lower investment income.
The Singapore Business Review Insurance Rankings is the annual list of the top 50 insurers in Singapore by assets. The data is derived from the Monetary Authority of Singapore's annual statistics with the most recent rankings using data from 2021 and comparing them from a year before.
The annual review of the insurance sector saw 20 life insurers, 24 general insurers, four life reinsurers, and two general reinsurers in the top 50 list.
Great Eastern retained its first place, with a 4.35% increase in assets. AIA also maintained its rank at second place with a 1.72% increase in assets.
Prudential, NTUC Income, and Manulife all retained their third, fourth, and fifth spots, respectively, with Manulife experiencing the greatest asset growth amongst the three at 18.51%. NTUC Income however decreased by 2.32% despite maintaining its fourth rank. Prudential's assets increased by 7.84% compared to a year before.
Amongst all the general insurers, NTUC Income's general insurance business has the highest assets in the rankings at number 13.
This year also saw the return of Singlife to the top 50 at rank 14 and a newcomer, EQ Insurance, at rank 50.
Meeting consumer demands
ãã®èšäºã¯ Singapore Business Review ã® Issue 102 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã8,500 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã ?  ãµã€ã³ã€ã³
ãã®èšäºã¯ Singapore Business Review ã® Issue 102 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã8,500 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã? ãµã€ã³ã€ã³
Singapore's health data bill mandates regulated information sharing
To ensure data disclosure and sharing, the Ministry of Health can impose up to $1m in fines for non-compliance.
Venture capitalists sharpen focus on targeting startups' profit paths
Deal activity in Asia Pacific fell 26.3% YoY in 2023, reflecting VC firms' caution.
Strategic locations and value-added services drive growth in self-storage sector
In Singapore, StorHub has introduced online booking for storage spaces of various sizes.
Why Tim Hortons vies for top spot in Singapore's 'third place' Western coffee scene
Capturing this market is better than competing directly with kopitiams and grab-and-go concepts.
CEO Justin Quek steers OrangeTee to real estate centered around customers
A step toward this commitment is the launch of the consumer-centric event 'Property Festival' in 3Q24.
Retailers are urged to view returns management as loyalty drivers
15% of customers abort a transaction if the return policy is subpar.
National security is put front and center with new Significant Investments Review bill
Legal experts believe cybersecurity and AI entities are likely to be affected by the measure.
Three strategies to mitigate BEPS 2.0's tax impact for MNEs
Should the directive be implemented, selected MNES will be subject to a global minimum tax of 15%.
JustCo debuts first pay-per-minute airport hub for business nomads
The co-working space has around 50 hot desks and nap pods, allowing travellers to 'check-in' at work.
Fr8Labs secures major backing to digitalise Asia's freight sector
Investors are showing strong support for Fr8Labs, a company set on transforming the freight forwarding sector traditionally bogged down by manual processes.