Singapore’s general insurance industry to hit S$7.35b in 2028

📆 15/10/2023 9:53 p. m.
📰 SBRMagazine

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pstrongThe industry will grow at a compound annual growth rate (CAGR) of 5.8%./strong/p pGross written premiums (GWP) of Singapore’s general insurance industry will reach S$7.35b (US$5.5b) in 2028, growing at a compound annual growth rate (CAGR) of 5.8%.

Gross written premiums of Singapore’s general insurance industry will reach S$7.35b in 2028, growing at a compound annual growth rate of 5.8%.

In terms of line of business, Personal Accident and Health insurance is leading the industry, accounting for a 23.9% share of the general insurance GWP in 2023. Behind PA&H are property insurance and motor insurance, which accounted for a 19.1% and 18.4% share of general insurance GWP in 2023, respectively.

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