Singapore also has regulatory reviews and initiatives to expand insurance access for businesses.
Asia-Pacific’s insurance sector from 5 to 9 October saw major acquisitions and reinsurance deals, new protection plans and healthcare partnerships.
Singapore is reviewing its tax policy framework as single-family offices seek greater flexibility to invest in assets such as digital payment tokens and insurance policies, Deputy Prime Minister Gan Kim Yong said.
The Monetary Authority of Singapore (MAS) will review the designated investment list, which sets out the types of investments that can qualify for tax exemptions under Singapore’s tax incentive schemes for funds.
This comes as geopolitical dynamics, technological advances, and changing investor preferences make wealth management more complex, Gan said at the Wealth Management Institute’s Global-Asia Family Office Summit.
Zurich Insurance Group has completed its acquisition of Beazley, creating what it said is the world’s largest specialty insurance business, headquartered in London.
Zurich said the integration of Beazley into its Global Specialty business is expected to generate more than $1b in additional annual revenue by 2029, alongside at least $150m in annual cost savings.
Manulife Financial Corporation has closed a deal to reinsure $3.2b in long-term care policy reserves with Munich American Reassurance Company, a subsidiary of Munich Re Group.
First announced on 5 August 2026, the transaction fully transfers the biometric risk associated with the long-term care portfolio.
Prudential Singapore launched a whole-of-life protection plan which enables caregivers to provide protection for both their child and ageing parents under a single policy.
The insurer said the plan comes at a time of a super-aged society, as the proportion of citizens in Singapore aged 65 and up was over a fifth of the population in 2026.
Singlife has partnered with NHG Health to improve access to specialist care for its customers and explore new healthcare models focused on patient outcomes, recovery and cost efficiency.
Under the partnership, NHG Health will join Singlife Care Collab, a health services hub that connects customers with healthcare providers.
The United Nations Development Programme (UNDP) and Generali Central have launched an Insurance Innovation Challenge to find and scale insurance solutions that can improve the resilience of India’s micro, small and medium-sized enterprises (MSMEs).
India has more than 73 million MSMEs, which contribute about 30% of GDP and 44% of exports whilst employing 60% of the workforce, according to SIDBI’s 2025 data.