InsuranceInsights

The companies

Life insurers

Every Singapore direct life insurer, from the statutory Insurance Company Returns each files with the Monetary Authority of Singapore (MAS). Figures are the company total as filed for FY2025 — the balance sheet from Form A1, the revenue account from Form A2, and the capital adequacy ratio from Form A4. Click an insurer to see its full return.

YearInsurerTotal assetsForm A1Policy liabilitiesForm A1 · part of totalTotal liabilitiespolicy + claims + otherNet assetsassets − TOTAL liabilitiesGross premiumsForm A2Net premiumsof reinsuranceNet incomeafter taxMarginnet income ÷ net premiums2-yr persistencyannual statisticsCARForm A4 · min 100%
FY2025Great Eastern LifeS$82.93bnS$72.28bnS$78.79bnS$4.14bnS$9.72bnS$9.04bnS$694.4m7.7%—172.6%
FY2025PrudentialS$71.35bnS$64.25bnS$69.85bnS$1.50bnS$9.64bnS$8.79bnS$553.9m6.3%—200.2%
FY2025AIA SingaporeS$64.31bnS$55.98bnS$60.60bnS$3.71bnS$9.46bnS$8.95bnS$851.2m9.5%—254.9%
FY2025ManulifeS$50.46bnS$46.10bnS$49.13bnS$1.33bnS$8.15bnS$6.65bnS$139.9m2.1%—187.5%
FY2025IncomeS$45.30bnS$38.75bnS$41.97bnS$3.33bnS$3.45bnS$3.21bnS$205.5m6.4%—218.0%
FY2025Singapore LifeS$18.76bnS$16.26bnS$17.52bnS$1.24bnS$5.34bnS$4.61bnS$45.7m1.0%—186.6%
FY2025HSBC LifeS$15.00bnS$11.59bnS$13.89bnS$1.12bnS$2.19bnS$1.93bnS$126.7m6.6%—210.2%
FY2025Tokio Marine LifeS$14.45bnS$10.26bnS$12.02bnS$2.43bnS$802.7mS$695.3mS$388.6m55.9%—260.0%
FY2025Swiss LifeS$4.98bnS$4.95bnS$4.96bnS$12.2mS$232.4mS$228.2mS$5.4m2.4%—2633.9%
FY2025Etiqa PLS$4.60bnS$4.00bnS$4.44bnS$165.8mS$1.03bnS$960.8mS$22.0m2.3%—175.3%
FY2025Utmost InternationalS$3.70bnS$3.66bnS$3.66bnS$34.2mS$201.5mS$201.0mS$-4.1m-2.0%—2119.9%
FY2025TransamericaS$3.03bnS$2.73bnS$2.84bnS$192.2mS$128.0mS$119.5mS$39.1m32.7%—411.0%
FY2025ST. James's PlaceS$1.60bnS$1.56bnS$1.56bnS$35.6mS$161.5mS$161.5mS$6.6m4.1%—7116.3%
FY2025Friends ProvidentS$1.46bnS$1.41bnS$1.43bnS$29.3mS$198.4mS$198.3mS$10.3m5.2%—873.8%
FY2025China TaipingS$1.42bnS$1.03bnS$1.13bnS$297.6mS$327.5mS$276.8mS$20.7m7.5%—204.6%
FY2025FWD SingaporeS$1.17bnS$857.3mS$954.9mS$217.9mS$810.0mS$776.9mS$57.9m7.4%—194.7%
FY2025SUN LifeS$1.13bnS$416.0mS$1.07bnS$63.4mS$287.7mS$-47.1mS$-4.5m——528.8%
FY2025MonumentS$662.5mS$610.9mS$632.2mS$30.3mS$30.6mS$30.6mS$6.7m21.8%—439.6%
FY2025China LifeS$628.2mS$514.0mS$537.5mS$90.6mS$70.2mS$70.1mS$3.6m5.1%—190.1%
FY2025Allianz SingaporeS$326.2mS$179.7mS$203.9mS$122.3mS$148.0mS$126.5mS$-6.3m-5.0%—283.3%
FY2025Utmost WorldwideS$301.9mS$284.6mS$289.9mS$12.0mS$15.9mS$15.9mS$1.1m7.2%—247.0%
FY2025Raffles HealthS$156.6mS$84.0mS$111.6mS$45.0mS$166.6mS$103.8mS$-1.6m-1.6%—270.7%
FY2025FWD BermudaS$55.5mS$37.3mS$41.2mS$14.3mS$43.2mS$42.3mS$4.1m9.7%—296.4%
FY2025Life Insurance CorpS$49.1mS$32.7mS$36.2mS$12.9mS$16.6mS$16.6mS$-2.3m-14.1%—806.1%

Source: Monetary Authority of Singapore — Insurance Company Returns FY2025 (Forms A1, A2, A4), as filed by each insurer. Amounts in Singapore dollars. 2-year persistency and policies in force come from the MAS annual insurance statistics, which cover the Singapore Insurance Fund only and stop at FY2024 — hence blank for FY2025.

Figures are the whole company (every insurance fund plus the shareholders' fund), so they are larger than the Singapore-Insurance-Fund figures MAS publishes in its annual statistics. Reinsurers, which write no direct business, are excluded.