The two channels facilitated 504,951 purchases.
Advisory channels remained the main route for Singaporeans buying life insurance in the first half of 2026, with Financial Advisory (FA) Representatives and Tied Representatives accounting for 79.4% of all new policies purchased during the period.
The two channels facilitated a combined 504,951 new policies as individuals reviewed their protection and wealth needs, data from the Life Insurance Association, Singapore showed.
FA Representatives recorded the largest share of weighted new business premiums, which rose 35.9% year-on-year from $777.9m (S$994m) to $1.1b (S$1.35b).
The channel accounted for 37.3% of total weighted new business premiums and 40.8% of total sum assured.
Tied Representatives remained the largest distribution channel by number of policies sold, accounting for 40.7% of all new policies. This highlights the continued role of personalised financial advice in insurance decisions, according to the industry.
Other distribution channels also accounted for a share of new business.
Bank Representatives made up 25.8% of total sum assured, whilst Online Direct Channels contributed 5.2%. Policies purchased without intermediaries accounted for the remaining 0.9%.
Looking ahead, Wong said the life insurance industry would continue to focus on the sustainability of health insurance, financial literacy and consumer education as Singaporeans’ healthcare and financial needs change.
“We will continue to drive financial literacy and consumer education, equipping Singaporeans with the knowledge and confidence to make informed decisions about their protection, healthcare and long-term financial well-being,” Wong said.
($1.00 = S$1.28)
