Under the Radar: Singlife Financial Adviser’s CEO sheds light on growth in Singapore’s insurance industry, concerns surrounding investment-linked policies and what they mean for the firm.

It’s back to the financial services industry as we speak to a financial advisory firm that’s wholly owned by Singlife.  Founded in 2016, Singlife Financial Advisers seeks to empower individuals to achieve financial freedom with its team of digitally enabled advisers, through innovative solutions that support its clients at every stage of their life.  The firm primarily looks at four areas: (1) Protection through insurance, (2) Savings and retirement, (3) Investment, and finally (4) Legacy planning, and is now seeing increased demand for services across the board in Singapore given a growing number of high-net worth individuals and an ageing population in the country.  According to numbers by data analytics provider GlobalData out in early 2025, Singapore’s general insurance industry is expected to grow at a Compound Annual Growth Rate (or CAGR) of 6.2% to hit S$8.1 billion in gross written premiums by 2029.  That’s supported by regulatory developments, economic expansion as well as a rise in market demand. So what will the numbers mean for the firm’s growth roadmap in the medium to longer term?   And as demand for insurance coverage increases, the Financial Industry Disputes Resolution Centre (or Fidrec) in Singapore is also seeing consumer complaints against investment-linked insurance policies or (ILPs) increase.  So what does this mean for the firm, and how will the firm ensure transparency in the selling of its products amid consumer concerns across the industry? At the same time, more support is also provided for the industry, with Singlife Financial Adviser’s parent Singlife setting up a shared service hub in Singapore earlier this year to help financial advisory firms with services like electronic financial need analysis, client onboarding and more. So how is Singlife Financial Advisers tapping the shared resource then? On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Justin Ho, CEO, Singlife Financial Advisers.See omnystudio.com/listener for privacy information.