Insurance Authority: New Life Insurance Policy Premiums Up 58.4 Per Cent Year-on-Year to $275.2 Billion in First Half

The Insurance Authority published provisional statistics for the first half of this year, excluding retirement scheme business, during which new life insurance policy premiums rose 58.4 per cent year-on-year to $275.2 billion. In the first half, insurers issued about 33,000 qualifying deferred annuity policies, contributing $2.1 billion in premiums, accounting for 0.8 per cent of total individual business.