|- Etiqa's consistent, long-term approach to the management of its participating fund continued to benefit policyholders during 2017.|
- Assets under management grew to S$385.8 million in 2017, an increase of 133% over 2016.
- Etiqa's participating policies continue to be an attractive financial option to meet the protection, savings and legacy needs of its customers.
SINGAPORE, Apr 12, 2018 - (Media OutReach) - Etiqa Insurance is pleased to announce record performance for its participating life insurance funds for the year ending 31st December 2017. The progressive insurer delivered a net investment return of 10.99% in 2017, almost three times 2016's achievement.
Sue Chi Kong, Chief Executive Officer of Etiqa Insurance Pte. Ltd. said, "Our participating fund has had another successful year's performance in 2017, yet again reinforcing the benefits of investing in our well-managed and financially strong fund. On the back of strong economic data and positive investment markets, we have achieved our highest ever net investment return for the fund. With our strategic asset allocation across equities and bonds, we are well positioned to continue to provide stable returns for our customers for years to come. As the macroeconomic conditions are expected to remain positive this year, we aim to create even more value for our policyholders by maximising investment returns within the participating fund."
Customers who purchased Etiqa's participating policies continue to benefit from stable, smoothed returns. Etiqa's prudent management of its participating fund's investments saw assets under management grow, with the market value of policy assets held by the fund amounting to S$385.8 million as at 31st December 2017, an increase of approximately 133% over 2016.
This outstanding fund performance demonstrates Etiqa's commitment to placing people over policies and helping its customers achieve their financial goals. As the insurance arm of Maybank Group, Etiqa ensures its participating fund invests in a well balanced mix of assets. Smoothing of investment returns helps to diversify risk for policyholders and allows the insurer flexibility to react to market changes to provide stable medium to long term returns, while maintaining the financial health of the fund.
Etiqa's participating fund is managed by Maybank Asset Management Singapore Pte. Ltd., a fully owned subsidiary of Maybank Asset Management Group Berhad. The group manages assets in excess of US$7.7 billion (as at 31st December 2017).
For more information on Etiqa, visit www.etiqa.com.sg.
Etiqa Insurance - A Singapore Insurance Company with Asian and International Expertise
Etiqa Insurance Pte. Ltd. is a licensed life and general insurance company registered in the Republic of Singapore and regulated by the Monetary Authority of Singapore (MAS). In July 2017, Fitch affirmed the company's "A-" rating for its financial strength and stable outlook.
Etiqa has been protecting Singaporeans since 1961 with a range of general insurance solutions that constantly evolve to meet their ever-changing needs. As the appointed insurer for the Housing Development Board (HDB) Fire Insurance Scheme in Singapore, we have been protecting homes since 2009. In August 2014, we added a comprehensive suite of life insurance solutions to our stable of products.
Etiqa is owned by Maybank Ageas Holdings Berhad, a joint venture company that combines local market knowledge with international insurance expertise. The company is 69% owned by Maybank, one of Asia's leading banking groups with more than 22 million customers worldwide in 20 countries; and 31% by Ageas, an international insurance group with 33 million customers across 16 countries and a heritage that spans over 180 years, with a focus to provide world class insurance solutions to consumers in Europe and Asia through market leading joint ventures.
At Etiqa, we believe in our brand promise of humanising insurance, by placing people over policies in everything we do. We are passionate about helping Singaporeans protect themselves and their loved ones.
Manager, Brand and Communications
Etiqa Insurance Pte. Ltd.
Tel: 6690 4309
Apr 12, 2018 12:15 HKT/SGT
Topic: Press release summary
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