Industry News

MSIG Asia has announced a strategic equity investment in Ancileo, an insurtech company specialising in travel insurance technology, to accelerate its growth in the Asia Pacific region. This move aims to strengthen MSIG’s digital capabilities and improve the integration of travel protection into airline and online travel agency (OTA) booking systems, enhancing customer experience and accessibility.

The partnership comes as intra-regional travel in Asia Pacific experiences rapid growth, with increasing demand for seamless, digital-first travel experiences. By embedding insurance coverage directly at the point of purchase, MSIG aims to capture new opportunities in the evolving travel ecosystem.

Clemens Philippi, CEO of MSIG Asia, stated, “This marks a strategic partnership that sharpens our competitiveness and advances our digital capabilities as travel continues to expand rapidly across our various markets.” He emphasised the collaboration with Ancileo would deliver faster, more relevant experiences for travellers whilst creating long-term value for partners and customers.

Olivier Michel, Founder and CEO of Ancileo, expressed enthusiasm for the partnership, noting, “Our goal is to reimagine what B2B2C travel insurance looks like in Asia — protection that partners are proud to offer and travellers are glad to have.”

This investment reflects broader industry trends towards digital distribution and integrated travel protection, positioning MSIG to better serve the growing needs of travellers in the region. As the travel landscape continues to evolve, MSIG’s enhanced digital strategy is set to play a crucial role in meeting the demands of modern travellers.

The Singapore Exchange (SGX) has announced the listing of the LionGlobal Singapore Physical Gold ETF, marking a significant milestone as the first gold ETF in Singapore with its bullion stored locally. Managed by Lion Global Investors, the ETF aims to provide investors with a means to diversify their portfolios amidst ongoing market uncertainties. The fund’s assets under management have already surpassed S$500m.

The ETF tracks the LBMA Gold Price AM and invests in gold bars that meet the London Bullion Market Association’s Good Delivery standards, ensuring a minimum fineness of 99.5%. Standard Chartered Bank serves as the custodian, with the gold securely stored and fully insured in Singapore. This development underscores Singapore’s growing reputation as a hub for precious metals trading in Asia.

Available in both Singapore and US dollars under the stock codes GLS and GLU, the ETF is priced at US$5 per unit. It is also eligible for investment through the Supplementary Retirement Scheme, allowing investors to integrate gold into their long-term financial strategies.

Ng Yao Loong, Head of Equities at SGX Group, highlighted the importance of gold in portfolio diversification, especially during volatile market conditions. He stated, “We value Lion Global Investors’ continued commitment to expanding innovative exchange-traded investment solutions.”

Teo Joo Wah, CEO of Lion Global Investors, expressed pride in launching Singapore’s first homegrown gold ETF, emphasising its role in enhancing trading efficiency and convenience for investors.

This new listing expands SGX’s ETF offerings to 53, with combined assets under management exceeding S$19 billion, further broadening investment opportunities for those seeking diversified exposure across various asset classes.

The Civil Aviation Authority of Singapore (CAAS) has announced a delay in the implementation of the Sustainable Aviation Fuel (SAF) Levy, initially set to begin in April 2026. The decision comes in response to the ongoing conflict in the Middle East, which is affecting airlines and passengers. The levy will now apply to tickets and services sold from 1 October 2026, for flights departing from 1 January 2027.

The SAF Levy will be applicable to all Origin-Destination passengers, cargo shipments, and both general and business aviation flights departing from Singapore. This adjustment shifts the original timeline, which was to start with tickets sold from 1 April 2026 for flights departing from 1 October 2026, as previously announced in November 2025.

Han Kok Juan, Director-General of CAAS, stated, “Singapore remains firmly committed to aviation decarbonisation. We are taking a pragmatic pause in view of the current situation. We will continue to work closely with our aviation industry partners and monitor global developments.”

The CAAS continues to focus on its mission to develop a safe and vibrant air hub, contributing significantly to Singapore’s success. This includes overseeing aviation safety, developing the air hub and industry, providing air navigation services, and contributing to international civil aviation development. The deferral of the SAF Levy reflects CAAS’s adaptive approach in response to global events, ensuring that the aviation sector remains resilient and sustainable.

Singapore’s domestic general insurance market has surpassed S$6b in gross written premiums for the first time, reaching S$6.09b in 2025, according to the General Insurance Association of Singapore (GIA). This marks an 8.4% year-on-year increase. However, net incurred claims also rose by 8.7% to S$1.8b, with motor claims experiencing an 11% surge, indicating more severe accidents despite stable accident numbers.

The sector’s underwriting performance improved, with profits rising 32% to S$289m. GIA President Ronak Shah emphasised the importance of insurance in helping individuals and businesses recover from unexpected events, stating, “The increase in claims underscores the vital role we play.”

Motor insurance remains the largest segment, with premiums growing 5.2% to S$1.28b, despite continued losses of S$6.9m. Property insurance premiums increased by 4.1% to S$864.1m, driven by a rise in fire incidents. Health insurance saw a 7.4% increase in premiums to S$1.24b, reflecting higher healthcare needs and costs.

Employer’s liability insurance showed a notable improvement in underwriting performance, reaching S$94.4m, whilst travel insurance premiums grew 8.6% to S$336.7m, supported by increased overseas travel.

As GIA celebrates its 60th anniversary, the sector remains committed to supporting Singapore’s communities and businesses amidst evolving risk landscapes. The association continues to work with partners to promote risk awareness and resilience.

Singlife has announced the appointment of Leo Mun Wai as an Independent Non-Executive Director to the boards of Singapore Life Holdings Pte. Ltd. and Singapore Life Ltd., effective from 23 March 2026. Mun Wai will also contribute to the Risk and Audit Committees, bringing over 30 years of financial services experience to the role.

Mun Wai’s extensive background includes senior leadership positions at the Monetary Authority of Singapore (MAS), where he served as Assistant Managing Director overseeing capital markets regulation. His experience spans regulatory oversight, governance, and market conduct, making him a valuable addition to Singlife’s board. He has also held board roles in the insurance and real estate sectors, including Great Eastern Life Assurance Singapore Ltd and Great Eastern General Insurance Ltd.

Ray Ferguson, Board Chairman of Singlife, expressed enthusiasm about Mun Wai’s appointment, stating, “His extensive experience in regulatory oversight and governance, coupled with his expertise in market conduct and digital transformation, will further strengthen the skillset of our Board.”

Mun Wai currently serves on the Board of Capitaland Integrated Commercial Trust, where he is a member of its Risk and Audit Committees. His appointment is expected to bolster Singlife’s commitment to delivering innovative financial solutions and building long-term trust with customers.

Singlife, a leading financial services company headquartered in Singapore, offers a comprehensive range of insurance products and financial advisory solutions. The company is a pioneer in digital insurtech and is committed to sustainable practices, as evidenced by its alignment with the United Nations Principles for Sustainable Insurance.

HSBC Life Singapore has introduced a new wellness initiative, Live Life Well, aimed at improving access to preventative care and enhancing community wellness across Singapore. This initiative is structured around four main pillars: promoting healthier workplaces, developing inclusive insurance solutions, enhancing health literacy, and bolstering community resilience. It seeks to transition from reactive medical interventions to proactive and early prevention, fostering a sustainable healthcare ecosystem.

A significant component of Live Life Well is the recent Memorandum of Understanding (MoU) with NHG Health. This partnership marks the first public-private collaboration of its kind, focusing on workplace wellness and community health. It will pilot NHG’s Health Manager for Companies (HM4C) model for HSBC Life’s employee benefits clients and facilitate collaboration on preventative care programmes, including referral pathways to NHG Health’s network of healthcare institutions.

Harpreet Bindra, CEO of HSBC Life Singapore, emphasised the importance of corporate and community engagement in improving health outcomes. “For insurers, this means moving beyond a model of protection towards one of prevention and active participation,” he stated, highlighting the initiative’s alignment with national efforts to build a resilient healthcare ecosystem.

This initiative follows a series of efforts by HSBC Life Singapore to promote sustainable healthcare practices, including last year’s launch of Savvy Claim premium discounts and collaborations with major healthcare providers like IHH Healthcare and Raffles Medical. These efforts aim to improve access to quality care for customers, reinforcing HSBC Life’s commitment to preventative healthcare.

Asia Pacific’s real estate market saw a significant resurgence in late 2025, with investment volumes reaching their highest levels since 2022, according to Savills’ Asia Pacific Investment Quarterly. The fourth quarter of 2025 witnessed an 8.7% increase in transaction volumes year-on-year, driven by stabilising yields and improved visibility on US tariff impacts.

In Singapore, the real estate investment market closed Q4 2025 with a robust S$10.97b in total investment sales, marking a 44.4% increase from the previous year. The residential sector was the largest contributor, accounting for 40.3% of total sales, despite a 13.7% quarter-on-quarter decline to S$4.42b. The commercial sector saw a 31.1% rise in investment sales, reaching S$3.45b, bolstered by significant transactions such as Keppel REIT’s acquisition of a one-third interest in Marina Bay Financial Centre Tower 3 for S$1.45b.

Across the region, Australia recorded AU$13.1b in Q4 investments, a 66% year-on-year increase, with office investments leading the charge. South Korea set a new annual record with KRW21.1t in office market investments, whilst Hong Kong’s residential transactions reached their highest since 1995, with 13,800 deals by Mainland buyers.

Neil Brookes, Executive Managing Director at Savills, noted, “The recovery we are seeing is being led by investors with a clear focus on quality, income durability, and pricing discipline.” Looking ahead, Alan Cheong, Executive Director at Savills Singapore, commented on the geopolitical risks, suggesting that 2026 investment volumes could match 2025 levels if conditions remain stable.

JTC has unveiled a series of strategic partnerships aimed at expanding the global reach of startups based at LaunchPad @ one-north. Collaborating with NUS Enterprise and INSEAD, JTC will connect LaunchPad startups to 19 international startup nodes, including major hubs like Paris, San Francisco, and Tokyo. This initiative, announced on 25 March 2026, is designed to provide startups with access to coworking spaces, investor networks, and ecosystem partners, facilitating their growth and international scaling.

The partnerships are part of a broader strategy to position LaunchPad as Asia’s flagship startup destination. The initiative includes new global and local partnerships, supportive policies for startups at various stages, and dedicated infrastructure for industry clusters. Alvin Tan, Minister of State for Trade and Industry and National Development, highlighted these developments at the opening of The Meeting Point, a new coworking and event space at LaunchPad.

JTC’s collaboration with Enterprise Singapore under the Global Innovation Alliance (GIA) will further support startups in exploring new markets. Locally, a partnership with OneCo provides LaunchPad startups access to coworking spaces in Singapore’s Central Business District.

Additionally, the LaunchPad Innovation Network (LINK) is expanding its mandate to connect startups with corporates, investors, and strategic partners. Since 2022, LINK has facilitated connections for over 60 startups, with new partners like CapitaLand Development and SoftBank Robotics joining the network.

JTC is also introducing startup-friendly policies, such as streamlined onboarding and flexible lease terms, to support startups at every stage. The infrastructure at LaunchPad is being refreshed, with The Meeting Point redesigned for networking and community events. Future developments include Kampong AI, a hub for AI startups, set to open fully by 2028.

Banyan Group, a global hospitality company, has announced its entry into the United States market with the launch of Banyan Tree Residences West Palm Beach. This marks the debut of the Group’s flagship Banyan Tree brand in the US, in collaboration with Mast Capital and Curated JCZM Development. The project aims to tap into one of the country’s fastest-evolving real estate markets.

The Banyan Tree Residences West Palm Beach is the Group’s first residential offering in the US, expanding its portfolio of award-winning resorts and branded residences. Known for its naturally luxurious and ecologically sensitive hospitality, Banyan Tree has been a pioneer in the industry for over three decades.

The collaboration with Mast Capital and Curated JCZM Development underscores the Group’s commitment to delivering high-quality residential experiences. The project is expected to attract significant interest due to its strategic location and the brand’s reputation for excellence.

Banyan Tree Holdings Limited, listed on the Singapore Exchange (SGX: B58), is leveraging its extensive experience in hospitality to make a significant impact in the US market. The move is part of the Group’s broader strategy to expand its global footprint and introduce its unique brand of luxury living to new audiences.

With the launch of sales for Banyan Tree Residences West Palm Beach, the Group is poised to set a new standard for residential offerings in the region. The project is expected to enhance the Group’s brand presence and open up new opportunities for growth in the US.

Pan Pacific Hotels Group (PPHG) has launched the “Every Meeting Matters” campaign, aiming to elevate the experience of business events as the Meetings, Incentives, Conferences, and Exhibitions (MICE) sector undergoes significant transformation. This initiative underscores PPHG’s commitment to adapting to the evolving landscape of business events in the post-pandemic era.

The campaign follows a comprehensive group-wide Asset Enhancement Initiative (AEI) of meetings and events spaces, positioning PPHG as a trusted partner for high-performing and meaningful meetings. The newly renovated William Pickering Ballroom at PARKROYAL COLLECTION Pickering, Singapore, exemplifies the group’s dedication to providing state-of-the-art facilities.

As global business travel rebounds, the MICE industry is witnessing substantial growth. According to Research and Markets, the global MICE industry market was valued at approximately US$783.70b in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6%. This growth highlights the increasing demand for innovative and flexible meeting solutions.

PPHG’s campaign is timely, addressing the need for enhanced business event experiences as companies seek to reconnect and collaborate in person. By investing in modernising its facilities, PPHG aims to meet the expectations of a rapidly changing industry landscape.

Looking ahead, PPHG’s focus on innovation and adaptability is set to play a crucial role in shaping the future of business events, ensuring that every meeting truly matters.