NEW YORK, March 22, 2017 /PRNewswire/ -- Synopsis
Timetric's 'Non-Life Insurance in Singapore Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Singaporean non-life insurance segment, and a comparison of the Singaporean insurance industry with its regional counterparts.
It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).
The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Singaporean economy and demographics, explains the various types of natural hazard and their impact on the Singaporean insurance industry, and provides detailed information on the competitive landscape in the country.
The report brings together Timetric's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.
Timetric's 'Non-Life Insurance in Singapore Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Singaporean non-life insurance segment, including:
- The Singaporean non-life segment's detailed outlook by product category
- A comprehensive overview of the Singaporean economy and demographics
- A comparison of the Singaporean non-life insurance segment with its regional counterparts
- The various distribution channels in the Singaporean non-life insurance segment
- Detailed analysis of natural hazards and their impact on the Singaporean insurance industry
- Details of the competitive landscape in the non-life insurance segment in Singapore
- Details of regulatory policy applicable to the Singaporean insurance industry
This report provides a comprehensive analysis of the non-life insurance segment in Singapore:
- It provides historical values for the Singaporean non-life insurance segment for the report's 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
- It offers a detailed analysis of the key categories in the Singaporean non-life insurance segment, and market forecasts to 2020.
- It provides a comparison of the Singaporean non-life insurance segment with its regional counterparts
- It analyzes the various distribution channels for non-life insurance products in Singapore.
- It analyzes various natural hazards and their impact on the Singaporean insurance industry
- It profiles the top non-life insurance companies in Singapore, and outlines the key regulations affecting them.
Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Singaporean non-life insurance segment, and each category within it.
- Understand the demand-side dynamics, key market trends and growth opportunities in the Singaporean non-life insurance segment.
- Assess the competitive dynamics in the non-life insurance segment.
- Identify growth opportunities and market dynamics in key product categories.
- Gain insights into key regulations governing the Singaporean insurance industry, and their impact on companies and the industry's future.
- The Singaporean non-life direct written premium increased at a review-period CAGR of 6.0%.
- Telematics, or usage-based insurance, is emerging rapidly in Singapore for both the passenger and commercial vehicle segments.
- The mixed economy and numerous commercial partnerships of Singapore gives countries such as China, India, Japan, Australia, New Zealand and Hong Kong access to its financial services industry. This enables the non-life segment – especially the property category – to generate business from overseas markets.
- According to AIG Singapore, demand for cyber insurance in Singapore is expected to increase by 50% in 2016, as businesses look to mitigate the high reputational and financial risks associated with cyber breaches.
- Brokers were the most popular distribution channel for non-life insurers during the review period, accounting for 59.6% of the segment's direct written premium in 2015.
- In Singapore, the distribution of non-life insurance takes place primarily through bancassurance, agents and business partners.
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