Contributed by Michelle Ee,
Wealth Management Director, Financial Alliance Pte Ltd
(The contributor can be contacted at email@example.com)
Life insurance business in general is enjoying an uptrend in Singapore – but the three main life insurance distribution channels are facing mixed fortunes.
According to the Life Insurance Association of Singapore (“LIA”), the Singapore life insurance industry continues to grow briskly, with weighted premiums received by life insurance companies in the first half of 2017 to be 10% above those received in the first half of 2016. This has led me to take a broader look at how the three main life insurance distribution channels – namely the tied agents, banks and financial advisers – have fared in general in the last decade or so.