In 2021, insurance penetration reached 9.3 percent in Singapore. Life insurance accounted for the largest share with a penetration rate of 7.5 percent, while non-life insurance had a penetration rate of 1.8 percent.
Life and non-life insurance penetration in Singapore in 2021
Basic Account
Get to know the platform
You only have access to basic statistics.
This statistic is not included in your account.
Starter Account
The ideal entry-level account for individual users
- Instant access to 1m statistics
- Download in XLS, PDF & PNG format
- Detailed references
$199 USD / Month *
Professional Account
Full access
Business Solutions including all features.
* Prices do not include sales tax.
Other statistics that may interest you Insurance industry in Singapore
Overview
4
- Premium Statistic GDP of the finance and insurance industry in Singapore 2014-2023
- Premium Statistic Export value of insurance services from Singapore to Asia 2000-2022
- Premium Statistic Insurance gross premiums written Singapore 2014-2022
- Premium Statistic Insurance gross premiums value Singapore 2022, by type
Key indicators
4
Life insurance
5
- Basic Statistic Life insurance policies in force in Singapore 2012-2021
- Premium Statistic Health insurance gross premiums written Singapore 2014-2022
- Premium Statistic Health insurance underwriting profit Singapore 2014-2022
- Premium Statistic Personal accident insurance underwriting profit Singapore 2018-2022
- Premium Statistic Personal accident insurance gross premiums written Singapore 2018-2022
Non-life insurance
6
- Premium Statistic Motor insurance gross premiums written Singapore 2014-2022
- Premium Statistic Property insurance gross premiums written Singapore 2017-2022
- Premium Statistic Employers’ liability insurance gross premiums written Singapore 2017-2022
- Premium Statistic Marine cargo insurance gross premiums written Singapore 2014-2022
- Premium Statistic Marine hull insurance gross premiums written Singapore 2014-2022
- Premium Statistic Travel insurance gross premiums written Singapore 2018-2022
Consumer perspective
6
- Premium Statistic Preferred insurance product features APAC 2021, by country
- Premium Statistic Insurance customer satisfaction Singapore 2022, by insurers
- Premium Statistic Preferred purchasing channels of insurance Singapore 2020-2022
- Premium Statistic Preferred channel to purchase insurance Singapore 2020-2022, by type
- Premium Statistic Leading reasons for considering life insurance among millennials Singapore 2021
- Premium Statistic Leading reasons for not purchasing life insurance among millennials Singapore 2021
Further Content: You might find this interesting as well
Atlas Magazine. (March 25, 2024). Life and non-life insurance penetration in Singapore in 2021 [Graph]. In Statista. Retrieved June 01, 2024, from https://www.statista.com/statistics/1316272/singapore-life-and-non-life-insurance-penetration/
Atlas Magazine. "Life and non-life insurance penetration in Singapore in 2021." Chart. March 25, 2024. Statista. Accessed June 01, 2024. https://www.statista.com/statistics/1316272/singapore-life-and-non-life-insurance-penetration/
Atlas Magazine. (2024). Life and non-life insurance penetration in Singapore in 2021. Statista. Statista Inc.. Accessed: June 01, 2024. https://www.statista.com/statistics/1316272/singapore-life-and-non-life-insurance-penetration/
Atlas Magazine. "Life and Non-life Insurance Penetration in Singapore in 2021." Statista, Statista Inc., 25 Mar 2024, https://www.statista.com/statistics/1316272/singapore-life-and-non-life-insurance-penetration/
Atlas Magazine, Life and non-life insurance penetration in Singapore in 2021 Statista, https://www.statista.com/statistics/1316272/singapore-life-and-non-life-insurance-penetration/ (last visited June 01, 2024)
Life and non-life insurance penetration in Singapore in 2021 [Graph], Atlas Magazine, March 25, 2024. [Online]. Available: https://www.statista.com/statistics/1316272/singapore-life-and-non-life-insurance-penetration/