Sia Partners Asia Newsletter: Insurance in Asia - Issue 3 - June 2015
… is the per capita increase (in percentage) of insurance expenditure between 2010 and 2013 in Singapore.
Life insurance represents 84% of the total 2013 Singapore insurance expenditure, the non life market being much smaller at 16%. From 2010 to 2013, Life insurance grew by 31.6%, non life only by 13.5%.
Nevertheless this increase should be corrected with the rather large inflation in the country: during the same period the Consumer Price Index grew by 13.8%.
As a consequence the adjusted increase for expenditure in insurance per capita between 2010 and 2013 in Singapore is 12.7%.
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