Best’s Commentary: HSBC’s Acquisition of AXA Singapore Highlights Singapore Life Insurance Growth Prospects
Summary
In addition, recent and future life insurance growth is expected to be supported by the city-state’s attractiveness as a home for affluent and high net worth individuals. The health and employee benefits lines of business also remain important growth drivers for life insurers in Singapore. Nonetheless, AM Best notes that companies engaging in these line of business continue to face underwriting performance challenges, particularly for individual medical and critical illness products. AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.