Singapore Insurance – (Re)in Asia

Features and key stories

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HSBC confirms review of Singapore life insurance arm

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"Client globality": Sun Life rewires HNW business into single global platform

Sun Life Private Wealth links Bermuda, Hong Kong, Singapore and Dubai into one platform as Asia's wealthy spread assets across jurisdictions.

Allianz strikes S$2.7bn deal for HSBC Life Singapore

The two groups will also enter a 15‑year exclusive bancassurance partnership, with the deal slated for completion in the first half of 2027.

Lloyd's Asia premiums flat in 2025 after four years of growth

A first fall in offshore business since 2020 offset continued onshore growth, while inward reinsurance set a new high.

MAS targets captive and ILS market growth with new corporate structure

Industry participants say the proposed framework, set to launch by 2028, could reduce costs, improve operational efficiency and support broader adoption of captives and insurance-linked securities.

Thin data, soft rates push Asia cyber underwriters further beyond traditional loss history

Panelists at ITC Asia said internal case taxonomies and controls, such as MFA and EDR, offer signals where regional loss records fall short.

Singapore GI market flat in Q1 2026 as claims fall and underwriting results hold steady

Direct premiums slipped 0.4%, with onshore credit, aviation hull leading premium growth, while offshore property and cargo dragged.

Singapore life insurers’ new business premiums rise 14.3% in Q1 as claims, maturity payouts hit S$5.79bn

Single premium sales jumped 36.5%, while banks remained the largest distribution channel for new business, accounting for S$593m (US$466m) of weighted premiums.

ADB issues first catastrophe bonds

Two US$80m tranches will provide parametric disaster relief to the Kyrgyz Republic and Tajikistan, with notes to be listed on the Singapore Exchange.

Singapore, Australia show systemic risk progress, but IAIS flags liquidity disclosure gaps across markets

The IAIS's multi-year assessment of 16 jurisdictions finds resolution tools underdeveloped and liquidity stress-testing requirements uneven, even as macroprudential supervision matures.

Autonomous vehicles drive APAC insurers toward new liability era as robotaxis ramp up

Robotaxis are giving commercial shape to APAC’s broader AV market, but insurers remain constrained by limited data, fragmented regulation, and unresolved liability questions.

Singapore reinsurance profits collapse in Q4 as incurred losses surge 98%

Offshore reinsurance swung into a SG$2.9m loss, while smaller onshore operations remained profitable amid a 49% property premium surge.

Singapore’s new IP rider rules may lower premiums but are no ‘silver bullet’ for medical inflation

The new rules will trim IP rider prices by about 30% on average, but insurers still face mounting pressure to manage claims and risk‑pool shifts in a high‑inflation environment.

Singapore GI direct insurers lift underwriting profit despite softer Q4 premiums

Stable claims trends, liability-driven demand supported profitability across onshore and offshore portfolios, even as premiums edged down 1.49%.

Manulife Singapore sets new world record with US$300m HNW life insurance policy

The insurer breaks an earlier record held by HSBC Hong Kong, which issued a US$250m policy in February 2024.

Vietnam breaks from Asia’s soft market trend as commercial rates rebound to 15% in Q4

Korea led the region’s softening with a 17% composite rate drop, while Taiwan and Hong Kong SAR also posted double-digit declines, according to Marsh data.

Singapore life insurers post 11.3% new business growth in 2025 as ILPs drive expansion

Investment-linked products (ILPs) surge almost 28% as investors favour regular-premium plans and HNW solutions, while IP premiums surge before 2026 rider reset.

HSBC confirms review of Singapore life insurance unit

The business says it will "consider all options" for the insurance arm, but that no decision had been made.

Singapore primary GI market steadies in Q3 2025 as domestic recovery offsets offshore contraction

Direct onshore underwriting result rebounds to S$73m (US$53m) from last year’s weak quarter, while offshore profits fall 32% year-on-year.

APAC’s cat bond market poised for growth as investors chase diversification

Portfolio managers see the potential for stronger sponsor activity heading into 2026.

China and India, structured solutions at centre of MAPFRE RE’s APAC life push

Chief Regional Officer Javier Sánchez Cea aims to raise life from less than 5% to 20% of APAC premiums by building local teams and leveraging non-life ties.

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28 August