Singapore non-life insurance market forecasts 2024-2029

GlobalData expects the Singapore non-life insurance market to grow an average annual growth rate (CAGR) of 6.2%, from 6 billion SGD (4.4 billion USD) in 2024 to 8.1 billion SGD (5.9 billion USD) in 2029.

The sector's projected growth would likely be driven by a number of factors, including economic recovery, rising healthcare costs and rate increases in all non-life classes of business.