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Non-Life Insurance in Singapore

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Non-Life Insurance in Singapore


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Non-Life Insurance in Singapore

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Non-Life Insurance in Singapore



Executive Summary

Non-Life Insurance in Singapore

Summary

Non-Life Insurance in Singapore industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2013-17, and forecast to 2022). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

- The non-life insurance market consists of the general insurance market segmented into motor, property, liability and other insurance. The other segment is made up of non-life insurance products including health, travel, and accident cover among others. The value of the non-life insurance market is shown in terms of gross premium incomes. Gross premium income is defined as the insurer's premium income for the year from its policies, calculated without reduction for reinsurance premiums paid or payable by the insurer. Any currency conversions used in the report have been calculated using constant 2017 annual average exchange rates.

- The Singaporean non-life insurance market had total gross written premiums of USD 12.3bn in 2017, representing a compound annual growth rate (CAGR) of 5.9% between 2013 and 2017.

- The motor segment was the market's most lucrative in 2017, with total gross written premiums of USD 3.5bn, equivalent to 28.1% of the market's overall value.

- Demand for health insurance products largely contributed to the performance of the market in 2016, registering a double-digit growth rate. While the economy grew in 2017, insurance continued to stall as insurance rates and underwriting continued to come under pressure.

Scope

- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the non-life insurance market in Singapore

- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in Singapore

- Leading company profiles reveal details of key non-life insurance market players' global operations and financial performance

- Add weight to presentations and pitches by understanding the future growth prospects of the Singapore non-life insurance market with five year forecasts

Reasons to buy

- What was the size of the Singapore non-life insurance market by value in 2017?

- What will be the size of the Singapore non-life insurance market in 2022?

- What factors are affecting the strength of competition in the Singapore non-life insurance market?

- How has the market performed over the last five years?

- Who are the top competitiors in Singapore's non-life insurance market?

Table of Contents

Executive Summary 2

Market value 2

Market value forecast 2

Category segmentation 2

Geography segmentation 2

Market share 2

Market rivalry 2

Market Overview 7

Market definition 7

Market analysis 7

Market Data 9

Market value 9

Market Segmentation 10

Category segmentation 10

Geography segmentation 11

Market share 12

Market Outlook 13

Market value forecast 13

Five Forces Analysis 14

Summary 14

Buyer power 15

Supplier power 17

New entrants 19

Threat of substitutes 20

Degree of rivalry 21

Leading Companies 23

AXA SA 23

AIG Asia Pacific Insurance Pte. Ltd. 28

NTUC Income Insurance Co-operative Limited 29

MSIG Holdings (Asia) Pte. Ltd. 32

Macroeconomic Indicators 33

Country data 33

Methodology 35

Industry associations 36

Related MarketLine research 36

Appendix 37

About MarketLine 37

To know more information on Purchase by Section, please send a mail to sales@kenresearch.com

List of Figures

Figure 1: Singapore non-life insurance market value: USD billion, 2013-17

Figure 2: Singapore non-life insurance market category segmentation: % share, by value, 2017

Figure 3: Singapore non-life insurance market geography segmentation: % share, by value, 2017

Figure 4: Singapore non-life insurance market share: % share, by value, 2017

Figure 5: Singapore non-life insurance market value forecast: USD billion, 2017-22

Figure 6: Forces driving competition in the non-life insurance market in Singapore, 2017

Figure 7: Drivers of buyer power in the non-life insurance market in Singapore, 2017

Figure 8: Drivers of supplier power in the non-life insurance market in Singapore, 2017

Figure 9: Factors influencing the likelihood of new entrants in the non-life insurance market in Singapore, 2017

Figure 10: Factors influencing the threat of substitutes in the non-life insurance market in Singapore, 2017

Figure 11: Drivers of degree of rivalry in the non-life insurance market in Singapore, 2017

Figure 12: AXA SA: revenues & profitability

Figure 13: AXA SA: assets & liabilities

Figure 14: NTUC Income Insurance Co-operative Limited: revenues & profitability

Figure 15: NTUC Income Insurance Co-operative Limited: assets & liabilities

List of Tables

Table 1: Singapore non-life insurance market value: USD billion, 2013-17

Table 2: Singapore non-life insurance market category segmentation: USD billion, 2017

Table 3: Singapore non-life insurance market geography segmentation: USD billion, 2017

Table 4: Singapore non-life insurance market share: % share, by value, 2017

Table 5: Singapore non-life insurance market value forecast: USD billion, 2017-22

Table 6: AXA SA: key facts

Table 7: AXA SA: key financials (USD )

Table 8: AXA SA: key financials (EUR)

Table 9: AXA SA: key financial ratios

Table 10: AIG Asia Pacific Insurance Pte. Ltd.: key facts

Table 11: NTUC Income Insurance Co-operative Limited: key facts

Table 12: NTUC Income Insurance Co-operative Limited: key financials (USD )

Table 13: NTUC Income Insurance Co-operative Limited: key financials (SiUSD )

Table 14: NTUC Income Insurance Co-operative Limited: key financial ratios

Table 15: MSIG Holdings (Asia) Pte. Ltd.: key facts

Table 16: Singapore size of population (million), 2013-17

Table 17: Singapore gdp (constant 2005 prices, USD billion), 2013-17

Table 18: Singapore gdp (current prices, USD billion), 2013-17

Table 19: Singapore inflation, 2013-17

Table 20: Singapore consumer price index (absolute), 2013-17

Table 21: Singapore exchange rate, 2013-17

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AXA SA

AIG Asia Pacific Insurance Pte. Ltd.

NTUC Income Insurance Co-operative Limited

MSIG Holdings (Asia) Pte. Ltd.


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