Singapore life insurance market forecast for 2026-2030

GlobalData forecasts that Singapore’s life insurance market turnover will rise from 64.6 billion SGD (48.9 billion USD) in 2026 to 83.9 billion SGD (63.5 billion USD) in 2030. This represents an estimated average annual growth rate of 6.8% over five years.

Gross written premiums are projected to increase by 8.5% to 60.6 billion SGD (45.9 billion USD) in fiscal year 2025.

Growth in the sector is expected to be supported by stronger demand for both protection and savings policies.