SINGAPORE’S 50 LARGEST INSURANCE COMPANIES 2015 Overall Ranking
Classification
Insurance Company
2014 Overall Ranking
Total Assets 2013
Total Assets 2014
1 2
Composite Insurer
AIA SINGAPORE
1
31,491,190,183
35,371,886,441
Composite Insurer
NTUC INCOME INSURANCE CO-OPERATIVE
2
29,800,308,543
30,880,406,566
3
Life Insurer
PRUDENTIAL ASSURANCE CO. SINGAPORE
4
25,747,440,208
28,643,271,548
4
Life Insurer
THE GREAT EASTERN LIFE ASSURANCE COMPANY
3
26,180,585,982
28,111,703,499
5
Life Insurer
MANULIFE (SINGAPORE)
5
5,474,830,707
5,927,480,876
6
Composite Insurer
AVIVA
6
4,450,969,368
5,519,093,619
7
Composite Insurer
THE OVERSEAS ASSURANCE CORPORATION
7
3,833,349,687
4,852,414,817
8
Life Insurer
TOKIO MARINE LIFE INSURANCE SINGAPORE
8
3,592,798,493
4,610,419,476
9
Composite insurer**
HSBC INSURANCE (SINGAPORE)
10
3,014,372,127
3,714,125,569
10
Life Insurer
SWISS LIFE (SINGAPORE)
9
3,382,214,873
2,892,170,834
11
Reinsurer (Composite)
ALLIANZ SE, SINGAPORE
11
2,388,567,710
2,277,480,987
12
Life Insurer
TRANSAMERICA LIFE (BERMUDA) SINGAPORE
16
1,200,453,125
2,018,326,026
13
Life insurer
AXA LIFE INSURANCE SINGAPORE
13
1,669,348,632
1,877,838,101
14
Reinsurer (Composite)
SWISS REINSURANCE COMPANY
14
1,400,333,840
1,844,646,351
15
Reinsurer (Composite)
ASIA CAPITAL REINSURANCE GROUP
12
1,704,922,166
1,673,535,283
16
Reinsurer (Composite)
MUENCHENER RUECKVERSICHERUNGS GESELLSCHAFT
15
1,385,222,865
1,510,034,032
17
Reinsurer (General)
IAG RE SINGAPORE
19
880,762,614
1,406,864,426
18
General Insurer
FIRST CAPITAL INSURANCE
17
1,037,148,222
1,116,760,277
19
General Insurer
AXA INSURANCE SINGAPORE
18
896,624,382
953,561,515
20
Life Insurer
OLD MUTUAL INTL ISLE OF MAN SINGAPORE (formerly Royal Skandia Life Assurance)
24
735,372,874
887,238,018
21
Reinsurer (General)
ODYSSEY REINSURANCE COMPANY
22
792,901,516
878,129,087
22
Reinsurer (General)
EVEREST REINSURANCE COMPANY
21
836,745,349
865,579,254
23
General Insurer
AIG ASIA PACIFIC INSURANCE
20
864,220,515
861,907,560
24
General Insurer
INDIA INTERNATIONAL INSURANCE
23
759,202,809
799,631,732
25
Life Insurer
ZURICH INTERNATIONAL LIFE (SINGAPORE)
25
685,982,683
690,631,680
26
Life Insurer
FRIENDS PROVIDENT INTERNATIONAL (SINGAPORE)
28
509,324,005
525,214,733
27
General Insurer
MSIG INSURANCE (SINGAPORE)
26
624,682,603
632,139,170
28
General Insurer
ALLIANZ GLOBAL CORPORATE & SPECIALTY SE, SINGAPORE
33
433,727,046
589,982,475
29
Reinsurer (Life)
SCOR GLOBAL LIFE SE SINGAPORE
30
490,523,104
532,133,949
30
General Insurer
TOKIO MARINE INSURANCE SINGAPORE
29
495,968,111
500,459,575
31
General Insurer
TENET SOMPO INSURANCE
31
451,698,359
476,562,549
32
Reinsurer (General)
THE TOA REINSURANCE Company (SINGAPORE)
27
515,853,725
458,839,678
33
Reinsurer (Composite)
SCOR REINSURANCE ASIA-PACIFIC
37
326,848,714
411,227,936
34
General Insurer
ROYAL & SUN ALLIANCE INSURANCE, SINGAPORE
34
382,678,565
404,232,775
35
General Insurer
QBE INSURANCE (INTERNATIONAL), SINGAPORE
32
411,273,577
396,081,167
36
General Insurer
LIBERTY INSURANCE
35
344,059,635
384,546,363
37
Reinsurer (General)
XL RE
36
330,805,748
342,797,744
38
Reinsurer (General)
SINGAPORE REINSURANCE CORPORATION
38
306,505,712
328,534,161
39
General Insurer
CHINA TAIPING INSURANCE (SINGAPORE)
39
292,270,356
311,833,786
40
General Insurer
FEDERAL INSURANCE COMPANY
40
283,698,943
295,637,218
41
General Insurer
UNITED OVERSEAS INSURANCE
41
251,272,897
266,747,693
42
Reinsurer (Composite)
PARTNER REINSURANCE EUROPE SE (SINGAPORE)
42
232,216,045
264,471,229
43
Reinsurer (General)
SIRIUS INTERNATIONAL INSURANCE CORPORATION, SINGAPORE
45
188,022,110
218,062,134
44
General Insurer
AXA CORPORATE SOLUTIONS ASSURANCE SINGAPORE
49
115,879,287
217,355,026
45
Reinsurer (General)
KOREAN REINSURANCE CO
43
216,506,860
209,584,048
46
Reinsurer (General)
ENDURANCE SPECIALTY INSURANCE, SINGAPORE
48
124,214,528
207,611,894
47
General Insurer
XL INSURANCE company SINGAPORE
44
190,434,936
200,667,909
48
General Insurer
LIBERTY MUTUAL INSURANCE EUROPE
47
148,918,160
179,014,026
49
General Insurer
COFACE, SINGAPORE
46
166,384,026
178,767,777
50
Reinsurer (General)
SWISS RE INTERNATIONAL SE, SINGAPORE
50
60,123,155
178,187,890
*Data compiled from insurance company returns submitted to Monetary Authority of Singapore obtained AS AT SEPTEMBER 22, 2015. **Data for general business is not available.
SINGAPORE BUSINESS REVIEW REVIEW || SEPTEMBER MARCH 2016 2015 41 41