Singapore life insurers pay out more than $15 billion in first nine months of 2026

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Singapore life insurers pay out over $15 billion in claims and maturity benefits in first nine months of 2026 Read more at straitstimes.com.

A further $1.7 billion was paid out under individual life policies for critical illness, death and total permanent disability.

SINGAPORE – Life insurers in Singapore paid out more than $15 billion in insurance claims and maturity benefits in the first nine months of 2026. Policy maturities accounted for the bulk of payouts, followed by claims for healthcare and other forms of insurance protection.

Maturity benefits comprised about 74% of total payouts, or $11.2 billion, while claims under individual health policies amounted to some $2.2 billion, according to figures released by the Life Insurance Association (LIA) Singapore on Nov 12.

A further $1.7 billion was paid out under individual life policies for critical illness, death and total permanent disability. Critical illness claims alone amounted to $756 million.

Of the $2.2 billion in health insurance claims, $2.1 billion came from Integrated Shield Plans (IPs) and their riders, with IP riders accounting for 24.1%. The remaining $115.2 million was paid under other medical plans and riders.

Claims under IPs and their riders rose 6.7% quarter on quarter, from $695.1 million in the second quarter to $742 million in the third quarter.

Separately, the industry recorded a 15% year-on-year increase in total weighted new business premiums in the first nine months of 2026 to $5.5 billion, a rise that LIA attributed to strong economic momentum.

In the third quarter alone, weighted new business premiums rose 4.2% year on year to $1.8 billion.

Investment-linked policies (ILPs) accounted for an increasingly large share of new business. New business weighted premiums from ILPs rose 22.6% year on year to $2.5 billion in the first nine months.

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