Life insurance grew by 28% in 2013

Life insurance has risen sharply in 2013, attaining a turnover of 2.8 billion SGD (2.2 billion USD), an increase of 28% over one year. Group insurance policies have been the main drivers of growth, jumping by 31% at 2.1 billion SGD (1.656 billion USD).

Stable economic environment and restored consumer confidence account for this trend poised to continue in 2014. This past year was marked by major government projects including MediShield, a health coverage plan designed for all residents of the country.

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