NEW YORK, July 28, 2022 /PRNewswire/ — The Life Annuity Insurance Market in Singapore is expected to witness a potential growth variance of USD 570.00 million at a decelerating CAGR of 3.22% during the forecast period. The life annuity insurance market in Singapore report also offers information on several market vendors, including Allianz Group, AXA Group, Berkshire Hathaway Inc., China Life Insurance (Singapore) Pte. Ltd, China Taiping Insurance Holdings Co. Ltd., Generali Group, HSBC Holdings Plc, Legal and General Group PLC, Munich Reinsurance Co., and Prudential Financial Inc. among others.
This report extensively covers the life annuity insurance market in Singapore segmentation by
- Distribution channel (online and offline) and
- Type (life (risk premium),
- Life (coinsurance, accident and health, disability income, and others)
Read the 120-page report with TOC on “Life Annuity Insurance Market in Singapore Analysis Report by Distribution channel and Type, Life, and the Segment Forecasts,2022-2026″. Request Sample Report.
- Allianz Group
- AXA Group
- Berkshire Hathaway Inc.
- China Life Insurance (Singapore) Pte. Ltd
- China Taiping Insurance Holdings Co. Ltd.
- Generali Group
- HSBC Holdings Plc
- Legal and General Group PLC
- Munich Reinsurance Co.
- Prudential Financial Inc.
Technavio’s sample reports contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Buy sample report
One of the main factors promoting the expansion of the Singapore life annuity insurance industry is the rising demand for insurance coverage. Insurance brokerage firms have been under pressure to develop effective sales methods, actuarial models, and pricing strategies as a result of a change in consumer demographics.
The demand for insurance products has expanded as a result of the supply of security services and individualized financial services to customers. In Singapore, the market for life annuity insurance is thus anticipated to increase as a result of the increasing demand for insurance products during the forecasted period.
Singapore’s online segment will significantly increase its market share for life annuity insurance. The market’s expansion will be aided by the online sector. But the offline sector will also fuel market expansion. Sales channels in the offline distribution network include insurance companies and salespeople. Sales agents for an insurance provider receive commissions for each policy they sell. They are able to establish trust with people, insurance companies, and their policies with ease. During the projection period, these factors will fuel market expansion. Download Sample Report.
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Life Annuity Insurance Market Scope in Singapore |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 3.22% |
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Market growth 2022-2026 |
$ 570.00 million |
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Market structure |
Concentrated |
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YoY growth (%) |
3.63 |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Allianz Group, AXA Group, Berkshire Hathaway Inc., China Life Insurance (Singapore) Pte. Ltd, China Taiping Insurance Holdings Co. Ltd., Generali Group, HSBC Holdings Plc, Legal and General Group PLC, Munich Reinsurance Co., and Prudential Financial Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1. Executive Summary
1.1 Market Overview
Exhibit 01: Key Finding 1
Exhibit 02: Key finding 2
Exhibit 03: Key finding 5
Exhibit 04: Key finding 6
Exhibit 05: Key finding 7
2. Market Landscape
2.1 Market ecosystem
2.1.1 Parent market
Exhibit 06: Parent market
Exhibit 07: Market characteristics
2.2 Value chain analysis
Exhibit 08: Value chain analysis: Specialized Consumer Services
2.2.1 Inputs
2.2.2 Operations
2.2.3 Marketing and sales
2.2.4 Support activities
2.2.5 Innovations
3. Market Sizing
3.1 Market definition
Exhibit 09: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 10: Market segments
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021 – 2026
3.4.1 Estimating growth rates for emerging and high-growth markets
3.4.2 Estimating growth rates for mature markets
Exhibit 11: Global – Market size and forecast 2021 – 2026 ($ million)
Exhibit 12: Global market: Year-over-year growth 2021 – 2026 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 13: Five forces analysis 2021 & 2026
4.2 Bargaining power of buyers
Exhibit 14: Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 15: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 16: Threat of new entrants
4.5 Threat of substitutes
Exhibit 17: Threat of substitutes
4.6 Threat of rivalry
Exhibit 18: Threat of rivalry
4.7 Market condition
Exhibit 19: Market condition – Five forces 2021
5. Market Segmentation by Distribution Channel
5.1 Market segments
The segments covered in this chapter are:
- Offline
- Online
Exhibit 20: Distribution Channel – Market share 2021-2026 (%)
5.2 Comparison by Distribution Channel
Exhibit 21: Comparison by Distribution Channel
5.3 Offline – Market size and forecast 2021-2026
Exhibit 22: Offline – Market size and forecast 2021-2026 ($ million)
Exhibit 23: Offline – Year-over-year growth 2021-2026 (%)
5.4 Online – Market size and forecast 2021-2026
Exhibit 24: Online – Market size and forecast 2021-2026 ($ million)
Exhibit 25: Online – Year-over-year growth 2021-2026 (%)
5.5 Market opportunity by Distribution channel
Exhibit 26: Market opportunity by Distribution channel
6. Market Segmentation by Type
6.1 Market segments
The segments covered in this chapter are:
- Life (Risk Premium)
- Life (Coinsurance)
- Accident and health
- Disability income
- Others
Exhibit 27: Type – Market share 2021-2026 (%)
6.2 Comparison by Type
Exhibit 28: Comparison by Type
6.3 Life (Risk Premium) – Market size and forecast 2021-2026
Exhibit 29: Life (Risk Premium) – Market size and forecast 2021-2026 ($ million)
Exhibit 30: Life (Risk Premium) – Year-over-year growth 2021-2026 (%)
6.4 Life (Coinsurance) – Market size and forecast 2021-2026
Exhibit 31: Life (Coinsurance) – Market size and forecast 2021-2026 ($ million)
Exhibit 32: Life (Coinsurance) – Year-over-year growth 2021-2026 (%)
6.5 Accident and health – Market size and forecast 2021-2026
Exhibit 33: Accident and health – Market size and forecast 2021-2026 ($ million)
Exhibit 34: Accident and health – Year-over-year growth 2021-2026 (%)
6.6 Disability income – Market size and forecast 2021-2026
Exhibit 35: Disability income – Market size and forecast 2021-2026 ($ million)
Exhibit 36: Disability income – Year-over-year growth 2021-2026 (%)
6.7 Others – Market size and forecast 2021-2026
Exhibit 37: Others – Market size and forecast 2021-2026 ($ million)
Exhibit 38: Others – Year-over-year growth 2021-2026 (%)
6.8 Market opportunity by Type
Exhibit 39: Market opportunity by Type
7. Customer landscape
Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
7.1 Overview
Exhibit 40: Customer landscape
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Increasing demand for insurance policies
8.1.2 Increasing government regulations on mandatory insurance coverages
8.1.3 Growing hospital insurance programs
8.2 Market challenges
8.2.1 Vulnerability toward cybercrime
8.2.2 Low profitability for Insurers due to low interest rates
8.2.3 Insurance subject to government regulations
Exhibit 41: Impact of drivers and challenges
8.3 Market trends
8.3.1 Insurance companies are going micro
8.3.2 Integration of IT and analytic solutions
8.3.3 Emergence of digital marketing platform
9. Vendor Landscape
9.1 Overview
Exhibit 42: Vendor landscape
9.2 Landscape disruption
Exhibit 43: Landscape disruption
Exhibit 44: Industry risks
9.3 Competitive landscape
10. Vendor Analysis
10.1 Vendors covered
Exhibit 45: Vendors covered
10.2 Market positioning of vendors
Exhibit 46: Market positioning of vendors
10.3 Allianz Group
Exhibit 47: Allianz Group – Overview
Exhibit 48: Allianz Group – Business segments
Exhibit 49: Allianz Group – Key offerings
Exhibit 50: Allianz Group – Segment focus
10.4 AXA Group
Exhibit 51: AXA Group – Overview
Exhibit 52: AXA Group – Business segments
Exhibit 53: AXA Group – Key offerings
Exhibit 54: AXA Group – Segment focus
10.5 Berkshire Hathaway Inc.
Exhibit 55: Berkshire Hathaway Inc. – Overview
Exhibit 56: Berkshire Hathaway Inc. – Business segments
Exhibit 57: Berkshire Hathaway Inc. – Key offerings
Exhibit 58: Berkshire Hathaway Inc. – Segment focus
10.6 China Life Insurance (Singapore) Pte. Ltd
Exhibit 59: China Life Insurance (Singapore) Pte. Ltd – Overview
Exhibit 60: China Life Insurance (Singapore) Pte. Ltd – Product and service
Exhibit 61: China Life Insurance (Singapore) Pte. Ltd – Key offerings
10.7 China Taiping Insurance Holdings Co. Ltd.
Exhibit 62: China Taiping Insurance Holdings Co. Ltd. – Overview
Exhibit 63: China Taiping Insurance Holdings Co. Ltd. – Business segments
Exhibit 64: China Taiping Insurance Holdings Co. Ltd. – Key offerings
Exhibit 65: China Taiping Insurance Holdings Co. Ltd. – Segment focus
10.8 Generali Group
Exhibit 66: Generali Group – Overview
Exhibit 67: Generali Group – Business segments
Exhibit 68: Generali Group – Key offerings
Exhibit 69: Generali Group – Segment focus
10.9 HSBC Holdings Plc
Exhibit 70: HSBC Holdings Plc – Overview
Exhibit 71: HSBC Holdings Plc – Business segments
Exhibit 72: HSBC Holdings Plc – Key offerings
Exhibit 73: HSBC Holdings Plc – Segment focus
10.10 Legal and General Group PLC
Exhibit 74: Legal and General Group PLC – Overview
Exhibit 75: Legal and General Group PLC – Business segments
Exhibit 76: Legal and General Group PLC – Key offerings
Exhibit 77: Legal and General Group PLC – Segment focus
10.11 Munich Reinsurance Co.
Exhibit 78: Munich Reinsurance Co. – Overview
Exhibit 79: Munich Reinsurance Co. – Business segments
Exhibit 80: Munich Reinsurance Co. – Key offerings
Exhibit 81: Munich Reinsurance Co. – Segment focus
10.12 Prudential Financial Inc.
Exhibit 82: Prudential Financial Inc. – Overview
Exhibit 83: Prudential Financial Inc. – Business segments
Exhibit 84: Prudential Financial Inc. – Key offerings
Exhibit 85: Prudential Financial Inc. – Segment focus
11. Appendix
11.1 Scope of the report
11.1.1 Market definition
11.1.2 Objectives
11.1.3 Notes and caveats
11.2 Currency conversion rates for US$
Exhibit 86: Currency conversion rates for US$
11.3 Research Methodology
Exhibit 87: Research Methodology
Exhibit 88: Validation techniques employed for market sizing
Exhibit 89: Information sources
11.4 List of abbreviations
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