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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