TMCnet.com, 9 Mar 2009
The life insurance sector in Singapore recorded a 3% growth rate in 2008 as the industry chalked up S$1.71 billion (US$1.11 billion) of new business premiums during the year, according to the Life Insurance Association of Singapore.
During the year, the life sector generated S$995 million annual premium sales, up 21% from 2007. Sales of single premium policies fell 14% to S$7.64 billion in 2008. Of the total, S$2.77 billion or 36% was from the central provident fund investment scheme (CPFIS) sector.
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