Latest news with #EtiqaInsurance
Zawya
11 hours ago
- Business
- Zawya
Three in Four Singaporeans Prioritise Leaving an Inheritance for Future Generations
Millennials and Gen Zs lead the charge in proactive wealth planning; Gen Zs also have the highest expectations towards receiving an inheritance SINGAPORE - Media OutReach Newswire - 19 August 2025 - A new report by Etiqa Insurance Singapore spotlights growing trends in intergenerational wealth transfer, with 77% of Singaporeans prioritising leaving a financial legacy to future generations. With two-thirds of Singaporeans having either received, transferred or expect to receive or transfer their wealth, a commitment most pronounced among those aged 55 and above (74%), proactive wealth planning and management for Singaporeans is more crucial than ever. 78% of Singaporeans aged 55 years and above prioritise the importance of discussing inheritance matters with their families, signalling a clear cultural shift toward open and proactive legacy planning. This reflects a broader societal shift towards greater transparency and responsibility in legacy planning, as older Singaporeans recognise the importance of wealth transfer conversations before one's passing. Over half of Singaporeans surveyed (53%) have either received or expect to receive an inheritance. This expectation is even higher among younger Singaporeans, with 62% under the age of 24 expecting to receive an inheritance. This indicates the need for early financial literacy and planning to ensure wealth is managed effectively. Among Singaporeans who expect to receive or give an inheritance, one in five anticipate a windfall of $1 million or more. With large sums potentially involved, financial education becomes key, and recipients need financial planning and management to manage this wealth. Among Singaporeans who have received their inheritance, 53% believe the inheritance plays a critical role in their long-term financial stability. In contrast only 35% of Singaporeans who have yet to receive an inheritance see it as critical factor that ensures their long-term financial stability. As the true value of an inheritance often becomes clear only after it is received, proactive financial guidance is essential to help individuals integrate it effectively into their long-term financial goals. Other key findings of the survey include: Nearly half (46%) of Singaporeans have plans to or have already initiated wealth transfers during their lifetime, shifting away from solely relying on transfers upon their passing. About half of Singaporeans surveyed (49%) actively use insurance as an instrument for wealth transfer, recognising it as an effective method for legacy planning beyond basic protection. Most Singaporeans preparing to pass on wealth involve their family in financial planning conversations (42%) and instilling values of responsibility and diligence (41%). A notable 18% still lack a plan for successor readiness. Wealth transfer comes with complexities. Key worries for Singaporeans regarding wealth transfer include family conflict (36%), maintaining their own financial security (34%), and fears of mismanagement of wealth (31%). One in three Singaporeans now involve a financial advisor in their wealth transfer planning, reflecting a growing recognition of the critical need for expert guidance in navigating complex legacy decisions. "Our Wealth Transfer Insights Report findings indicate that wealth transfer is increasingly viewed not just as a financial event, but as a purposeful act of next generation empowerment," said Raymond Ong, CEO of Etiqa Insurance Singapore. "It is heartening that Singaporeans are having conversations about wealth planning through open family dialogue and meticulous planning, fundamental to ensuring financial well-being of their families." "While Singaporeans demonstrate a strong commitment to securing their family's financial future through wealth transfer, potential challenges such as wealth mismanagement and preserving this wealth for next generation need to be addressed," Mr. Ong emphasised. "More strategic and informed legacy planning to bridge existing gaps and fostering continuous open dialogue are essential steps to ensure that legacies not only endure but truly empower future generations." Etiqa Insurance Singapore supports the community through financial planning literacy workshops and activities designed to empower individuals across all age groups. These initiatives, that will be rolled out in phases in coming years, aim to equip participants with the essential knowledge to protect, grow, and manage their wealth effectively. Find out more at: Etiqa Insurance Singapore Wealth Transfer Insights Report The Etiqa Insurance Singapore Wealth Transfer Insights Report was conducted in collaboration with Kantar in June 2025, surveying 1,008 Singapore citizens and permanent residents across four age groups: Gen Z (18 to 28 years old), Millennials (29 to 43 years old), Gen X (44 to 59 years old), and Seniors (60 and above). This study delves into the attitudes, expectations and strategies around both receiving and passing wealth to the next generation. Hashtag: #EtiqaInsurance The issuer is solely responsible for the content of this announcement. Etiqa Insurance Pte. Ltd. Etiqa Insurance Pte. Ltd. (EIPL) is a life and general insurance company licensed and regulated by the Monetary Authority of Singapore and governed by the Insurance Act 1966. Having protected customers in Singapore since 1961 under the name United General Insurance Co. Sdn. Bhd., the company transitioned into the Singapore branch of Etiqa Insurance Berhad in 2009. Today, EIPL in Singapore stands as the pivotal operating entity of Etiqa Insurance Group, a leading insurance and takaful provider in ASEAN. EIPL offers a comprehensive range of life and general insurance products accessible through its diverse distribution channels, including bancassurance, agents, brokers, financial advisers, partnerships, direct and online sales via Tiq by Etiqa. Etiqa is rated 'A' by credit rating agency Fitch for the group's 'Favorable' business profile. EIPL is owned by Maybank Ageas Holdings Berhad, a joint venture combining local market expertise with international insurance knowledge, with 69% ownership by Maybank, the fourth largest banking group in Southeast Asia, and 31% by Ageas, an international insurance group operating across 13 countries. Etiqa Insurance Singapore
CNA
14 hours ago
- Business
- CNA
Three in Four Singaporeans Prioritise Leaving an Inheritance for Future Generations
Millennials and Gen Zs lead the charge in proactive wealth planning; Gen Zs also have the highest expectations towards receiving an inheritance SINGAPORE - Media OutReach Newswire - 19 August 2025 - A new report by Etiqa Insurance Singapore spotlights growing trends in intergenerational wealth transfer, with 77% of Singaporeans prioritising leaving a financial legacy to future generations. With two-thirds of Singaporeans having either received, transferred or expect to receive or transfer their wealth, a commitment most pronounced among those aged 55 and above (74%), proactive wealth planning and management for Singaporeans is more crucial than ever. 78% of Singaporeans aged 55 years and above prioritise the importance of discussing inheritance matters with their families, signalling a clear cultural shift toward open and proactive legacy planning. This reflects a broader societal shift towards greater transparency and responsibility in legacy planning, as older Singaporeans recognise the importance of wealth transfer conversations before one's passing. Over half of Singaporeans surveyed (53%) have either received or expect to receive an inheritance. This expectation is even higher among younger Singaporeans, with 62% under the age of 24 expecting to receive an inheritance. This indicates the need for early financial literacy and planning to ensure wealth is managed effectively. Among Singaporeans who expect to receive or give an inheritance, one in five anticipate a windfall of $1 million or more. With large sums potentially involved, financial education becomes key, and recipients need financial planning and management to manage this wealth. Among Singaporeans who have received their inheritance, 53% believe the inheritance plays a critical role in their long-term financial stability. In contrast only 35% of Singaporeans who have yet to receive an inheritance see it as critical factor that ensures their long-term financial stability. As the true value of an inheritance often becomes clear only after it is received, proactive financial guidance is essential to help individuals integrate it effectively into their long-term financial goals. Other key findings of the survey include: Nearly half (46%) of Singaporeans have plans to or have already initiated wealth transfers during their lifetime, shifting away from solely relying on transfers upon their passing. About half of Singaporeans surveyed (49%) actively use insurance as an instrument for wealth transfer, recognising it as an effective method for legacy planning beyond basic protection. Most Singaporeans preparing to pass on wealth involve their family in financial planning conversations (42%) and instilling values of responsibility and diligence (41%). A notable 18% still lack a plan for successor readiness. Wealth transfer comes with complexities. Key worries for Singaporeans regarding wealth transfer include family conflict (36%), maintaining their own financial security (34%), and fears of mismanagement of wealth (31%). One in three Singaporeans now involve a financial advisor in their wealth transfer planning, reflecting a growing recognition of the critical need for expert guidance in navigating complex legacy decisions. "Our Wealth Transfer Insights Report findings indicate that wealth transfer is increasingly viewed not just as a financial event, but as a purposeful act of next generation empowerment," said Raymond Ong, CEO of Etiqa Insurance Singapore. "It is heartening that Singaporeans are having conversations about wealth planning through open family dialogue and meticulous planning, fundamental to ensuring financial well-being of their families." "While Singaporeans demonstrate a strong commitment to securing their family's financial future through wealth transfer, potential challenges such as wealth mismanagement and preserving this wealth for next generation need to be addressed," Mr. Ong emphasised. "More strategic and informed legacy planning to bridge existing gaps and fostering continuous open dialogue are essential steps to ensure that legacies not only endure but truly empower future generations." Etiqa Insurance Singapore supports the community through financial planning literacy workshops and activities designed to empower individuals across all age groups. These initiatives, that will be rolled out in phases in coming years, aim to equip participants with the essential knowledge to protect, grow, and manage their wealth effectively. Find out more at: Etiqa Insurance Singapore Wealth Transfer Insights Report The Etiqa Insurance Singapore Wealth Transfer Insights Report was conducted in collaboration with Kantar in June 2025, surveying 1,008 Singapore citizens and permanent residents across four age groups: Gen Z (18 to 28 years old), Millennials (29 to 43 years old), Gen X (44 to 59 years old), and Seniors (60 and above). This study delves into the attitudes, expectations and strategies around both receiving and passing wealth to the next generation. Hashtag: #EtiqaInsurance The issuer is solely responsible for the content of this announcement. Etiqa Insurance Pte. Ltd. Etiqa Insurance Pte. Ltd. (EIPL) is a life and general insurance company licensed and regulated by the Monetary Authority of Singapore and governed by the Insurance Act 1966. Having protected customers in Singapore since 1961 under the name United General Insurance Co. Sdn. Bhd., the company transitioned into the Singapore branch of Etiqa Insurance Berhad in 2009. Today, EIPL in Singapore stands as the pivotal operating entity of Etiqa Insurance Group, a leading insurance and takaful provider in ASEAN. EIPL offers a comprehensive range of life and general insurance products accessible through its diverse distribution channels, including bancassurance, agents, brokers, financial advisers, partnerships, direct and online sales via Tiq by Etiqa. Etiqa is rated 'A' by credit rating agency Fitch for the group's 'Favorable' business profile. EIPL is owned by Maybank Ageas Holdings Berhad, a joint venture combining local market expertise with international insurance knowledge, with 69% ownership by Maybank, the fourth largest banking group in Southeast Asia, and 31% by Ageas, an international insurance group operating across 13 countries.
Zawya
12-08-2025
- Business
- Zawya
Etiqa Insurance Singapore Marks Fourth Year as Official Travel Insurer at NATAS Travel Fair 2025
Travel the world with Etiqa's Extensive Travel Insurance Offers and Exciting Prizes SINGAPORE - Media OutReach Newswire – 12 August 2025 – Etiqa Insurance Singapore, a leading general and life insurer, returns to the National Association of Travel Agents Singapore (NATAS) Travel Fair 2025 as the Official Travel Insurer for the fourth consecutive year. Themed ' Destinations!, Singapore's largest premier travel fair will be held at the Singapore Expo Hall from 15 to 17 August 2025, offering exciting promotions for travellers. In a special nod to Singapore's 60th birthday, Etiqa is rolling out a commemorative SG60 promotion at the NATAS Fair, ensuring Singaporeans can explore the world with confidence and peace of mind. Customers can enjoy up to 45% discount on Etiqa Travel Infinite*, and up to 10% off Annual Travel Plans. Maybank cardholders will receive an additional 5% off Annual Plans, bringing the total discount up to 15%. Additionally, a delightful surprise awaits lucky customers whose purchased policy number ends in '60' – marking Etiqa's way of celebrating Singapore's special day alongside our valued customers. "At Etiqa Insurance Singapore, we are committed to being With You, ensuring that whether you're travelling for adventure, business or with loved ones, you are doing so with complete peace of mind. We are proud to continue partnering with NATAS to safeguard every journey," said Raymond Ong, CEO of Etiqa Insurance Singapore. In the spirit of ' Destinations!' at the NATAS Fair, every customer will receive a complimentary gift with every purchase. From must-have travel essentials such as a sleek toiletries pouch to a lock and weigh luggage strap, every traveller can enhance their journey with added convenience. To explore these exciting offers, visit us at Booths 5H54 and 6H05 at Singapore Expo Hall 5 & 6. For more information or to buy your travel insurance today, simply scan the QR code or visit *Terms and Conditions This policy is underwritten by Etiqa Insurance Pte. Ltd. (Company Reg. No. 201331905K), a member of Maybank Group. This content is for reference only and is not a contract of insurance. Full details of the policy terms and conditions can be found in the policy contract. Protected up to specified limits by SDIC. Hashtag: #Etiqa The issuer is solely responsible for the content of this announcement. About Etiqa Insurance Singapore Protecting customers since 1961, Etiqa Insurance Singapore is a licensed life and general insurance company regulated by the Monetary Authority of Singapore (MAS) and governed by the Insurance Act 1966. The local insurer is the Singapore operating entity of Etiqa Insurance Group – a leading insurance and Takaful business in ASEAN offering life and general insurance and family and general Takaful products through its agents, branches, offices and bancassurance network in the region. Etiqa Insurance Singapore is rated 'A' by credit rating agency Fitch for the group's 'Favorable' business profile and 'Very Strong' capitalisation. Etiqa Insurance Singapore 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, the fourth largest banking group in Southeast Asia, and 31% by Ageas, an international insurance group with footprints across 13 countries and a heritage that spans over 190 years. Etiqa Insurance Singapore
Zawya
01-08-2025
- Business
- Zawya
Etiqa Insurance Singapore Relocates to New Office at Capital Square for Greater Accessibility and Growth
SINGAPORE - Media OutReach Newswire – 1 August 2025 – Etiqa Insurance Singapore, an insurance arm of Maybank Group, has officially opened the doors to its new office at Capital Square. This strategic relocation marks a significant step in Etiqa's commitment to enhancing accessibility and fostering deeper connections with its customers, reflecting the insurer's commitment to being closer to customers. Since establishing its presence in Singapore in August 2014, Etiqa has experienced continuous growth and success, driven by innovation, client partnerships, and commitment to excellence. The new ground-level office, located at 23 Church Street, #01-01 Capital Square, reflects the company's dedication to enhancing accessibility, fostering collaboration, and strengthening its footprint within Singapore's dynamic business environment. Celebrating 11 years in Singapore is a remarkable achievement for us," said Raymond Ong, Chief Executive Officer of Etiqa Insurance Singapore. "Opening this new office is not just about expanding our physical presence; it symbolizes our deep roots in the community and our commitment to serving our clients better with enhanced accessibility and a collaborative workspace designed for the future." "We celebrate Etiqa's remarkable journey and continued success in Singapore as part of the Maybank Group," said Alvin Lee, Country CEO & CEO, Maybank Singapore. "This expansion aligns with our vision to foster greater synergy, efficiency, and service excellence, further strengthening our position in Singapore's financial services landscape." The grand opening commenced with a symbolic Vespa convoy, carrying Etiqa's senior executives from their former premises to the new Capital Square office. This dynamic journey not only marked a fresh start but also visually underscored Etiqa's forward momentum. The celebrations continued with a traditional lion dance performance and a ribbon-cutting ceremony to mark auspicious beginnings. To commemorate the occasion, 300 specially prepared pineapple bags, each containing sweet treats to symbolise prosperity and good fortune, were distributed to the public, creating a festive and welcoming atmosphere at their new home. These festivities will lead into Etiqa's latest brand campaign, "Live Ready With You", which emphasises Etiqa's focus on everyday relevance, accessibility, and readiness to serve its customers. Etiqa's customer care centre is open to customers from Monday to Friday, 9.00am to 5.30pm (Excluding Public Holidays). Hashtag: #Etiqa The issuer is solely responsible for the content of this announcement. About Etiqa Insurance Singapore Etiqa Insurance Pte. Ltd. (EIPL) is a life and general insurance company licensed and regulated by the Monetary Authority of Singapore and governed by the Insurance Act 1966. Having protected customers in Singapore since 1961 under the name United General Insurance Co. Sdn. Bhd., the company transitioned into the Singapore branch of Etiqa Insurance Berhad in 2009. Today, EIPL in Singapore stands as the pivotal operating entity of Etiqa Insurance Group, a leading insurance and takaful provider in ASEAN. EIPL offers a comprehensive range of life and general insurance products accessible through its diverse distribution channels, including bancassurance, agents, brokers, financial advisers, partnerships, direct and online sales via Tiq by Etiqa. Etiqa is rated 'A' by credit rating agency Fitch for the group's 'Favorable' business profile. EIPL is owned by Maybank Ageas Holdings Berhad, a joint venture combining local market expertise with international insurance knowledge, with 69% ownership by Maybank, the fourth largest banking group in Southeast Asia, and 31% by Ageas, an international insurance group operating across 13 countries. Etiqa Insurance Pte Ltd
Arabian Post
17-06-2025
- Business
- Arabian Post
Etiqa Insurance Singapore Extends Support to Customers Impacted by Jetstar Asia's Impending Closure
Goodwill coverage for affected travel insurance customers includes extending claim submission period from 30 to 90 days to help customers better manage their travel disruptions SINGAPORE – Media OutReach Newswire – 17 June 2025 – On 16 June 2025, Etiqa Insurance Singapore announced its commitment to supporting its travel insurance customers who have been affected by the impending closure of Jetstar Asia's operations. Recognising the disruption and inconvenience this situation has caused for many travellers, Etiqa Insurance Singapore will extend coverage for eligible travel insurance customers with affected Jetstar Asia bookings. While airline cessation of operations is not typically covered by travel insurance policies, Etiqa Insurance Singapore is extending its coverage as a gesture of goodwill to alleviate the financial burden on its valued customers. Etiqa Insurance Singapore customers who have purchased single-trip or annual travel insurance plans before 8.00 a.m. on 11 June 2025 can claim for non-refundable expenses related to pre-booked accommodation, local transportation, and activities during their trip, subject to applicable limits and criteria. To enhance customer support, the company has also extended the claim submission period from 30 to 90 days, allowing customers additional time to review their travel plans and submit their claims when they are ready. ADVERTISEMENT 'At Etiqa Insurance Singapore, we understand the stress and uncertainty that the impending Jetstar Asia closure has brought to customers. We hope this goodwill gesture helps ease challenges faced by those with disrupted travel plans,' said Raymond Ong, Chief Executive Officer, Etiqa Insurance Singapore. 'We want to assure our customers that we remain committed to being 'With You' throughout their journeys, especially during unexpected situations. 'Our team is committed to providing the support and assistance our customers need to manage their travel plans with confidence and peace of mind'. Affected customers can contact Etiqa's Customer Care Officers via WhatsApp / Call at +65 6887 8777 or email [email protected] for assistance and/or clarifications on their coverage. Hashtag: #EtiqaInsurance The issuer is solely responsible for the content of this announcement. About Etiqa Insurance Pte. Ltd. (Etiqa Insurance Singapore) Protecting customers since 1961, Etiqa Insurance Singapore is a licensed life and general insurance company regulated by the Monetary Authority of Singapore (MAS) and governed by the Insurance Act 1966. The local insurer is the Singapore operating entity of Etiqa Insurance Group – a leading insurance and Takaful business in ASEAN offering life and general insurance and family and general Takaful products through its agents, branches, offices and bancassurance network in the region. Etiqa Insurance Singapore is rated 'A' by credit rating agency Fitch for the group's 'Favorable' business profile and 'Very Strong' capitalisation. Etiqa Insurance Singapore 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, the fourth largest banking group in Southeast Asia, and 31% by Ageas, an international insurance group with footprints across 16 countries and a heritage that spans over 190 years.
