Insurance Rankings dipped 3.7% year-on-year (YoY) in 2022, overshadowing the growth trend in last year’s edition which recorded a 5.1% YoY in 2021. The downtrend is attributed to the overall performance of the life insurance business, which contracted by 4.1%, whilst general insurers experienced a lukewarm 9.7% growth, according to the Ministry of Trade and Industry.
The Singapore Business Review Insurance Rankings compiles an annual roster of the 50 leading insurance companies in Singapore, based on their assets. The information is sourced from the annual statistics provided by the Monetary Authority of Singapore (MAS), with the latest rankings reflecting data from 2022 and making YoY comparisons. The annual rankings saw 21 life insurers, 23 general insurers, four life reinsurers, and two general reinsurers in the top 50 list