Singapore’s life insurance industry sees 20% rise in new business:

The operation was boosted by strong sales of investment-linked programs along with a favorable attitude towards retirement and protection requirements.

"This year's midpoint is much higher than last year's midpoint, therefore if momentum continues, we'll cross S$4bn for certain," Patrick Teow, head of the Life Insurance Association (LIA) Singapore stated in a media conference.

In contrast to a year before, the year-to-date total amount guaranteed, including individual life and health insurance climbed 19 percent to S$66.3bn at June 2018 by S$55.9bn at June 2017, pointing to a rise in security.

There's been a small change in clients' attention away from engaging goods, to both non-participating goods and investment-linked goods, imputed to insurers' new product launches in addition to improving economic problems.

More people took actions to provide to their golden years in the first half of the season. A total of 14,505 retirement insurance policies -- that are made to offer normal payouts to policyholders -- were marketed.

"We're happy that security for individuals is growing and that informs us that folks are taking a critical look at their fiscal wellbeing," explained Teow.

Key actions for the business to help people improve the adequacy of the insurance coverage is going to be published along with a qualitative defense study later this season.