Singapore life insurance market: 2027 forecasts

GlobalData forecasts suggest that the Singapore life insurance market's turnover is likely to reach 100.4 billion SGD (77 billion USD) in 2027 against 62.9 billion SGD (47.2 billion USD) in 2022. The average annual growth rate is estimated at 9.8%.

The sector's growth would be driven by an increased awareness of the need for financial protection after the pandemic, the rising demand for life insurance policies and the growing number of wealthy people in the country.