- The second run of the event brings together major insurers and financial experts under one roof to help individuals take charge of their financial wellbeing at every stage of life.
- CIMB Singapore launches a report on Singapore residents’ perceptions and behaviours towards financial planning.
Singapore, 14 April 2025 - InsureXpo by CIMB successfully concluded its second edition on 12 April 2025 at the Suntec Convention Centre. Quadrupling the number of attendees from last year, the event brought together leading industry experts from insurers such as Singlife, FWD, Income and AIA, as well as community partners like Central Provident Fund (CPF) Board, Singapore Police Force, Mindline (by Ministry of Health) and National Youth Council.
Themed “From Protection to Prosperity”, the event served as a platform for individuals to exchange strategic insights and make meaningful connections with experts to explore the role of insurance beyond a protection tool and maximise its use to create a pathway to prosperity.
In his opening address, Victor Lee, CIMB’s CEO of Growth Markets and Singapore said, “We believe that financial literacy should be second nature to everyone. Whether you’re an experienced investor, a young professional just starting your career, or someone planning for retirement, we are committed to providing you with the tools and knowledge to make informed decisions and build a more secure financial future. This year, we are proud to support SG60’s mission of building financial resilience across Singapore, with a special focus on equipping our youth with the skills to navigate their financial futures with confidence.”
Keeping Insurance Premiums Affordable Amid Rising Living Costs and Aging Population
During the panel discussion featuring insurance partners – Singlife, FWD, Income and AIA – panellists explored the shifting insurance landscape in an era marked by rising living costs and an aging population. As claims and healthcare expenses surge, insurers are innovating to balance between rising costs and comprehensive coverage. One way to do so, is by digitalising and using insurtech to improve cost efficiency and maintain affordability, without compromising the human touch in insurance services. In addition, data analytics is also used to optimise risk assessment and pricing strategies.
Attendees also participated in a series of talks and panel discussions on pertinent financial topics. This includes securing financial freedom through insurance and CPF, achieving F.I.R.E[1], legacy planning for future generation, and other financial tips, featuring speakers like Dawn Cher (aka SG Budget Babe), and He Ruiming and Goh Wei Choon (aka The Woke Salaryman).
This purely educational conference sets the stage for Singaporeans to elevate their financial know-hows and become more confident in navigating their financial future.
Study: Younger Generation Striving For Early Financial Independence and Confident in Achieving Financial Goals
Prior to the event, CIMB Singapore announced the findings of a study that revealed Singapore residents’ perceptions and behaviours towards financial planning. A growing number of younger Singapore residents are striving for early financial independence and demonstrating strong confidence in achieving their goals. Of the respondents under the age of 30, 60% aim to achieve financial independence before the age of 40, and 54% expressed confidence in their financial management skills. However, only 39% of respondents aged 40 to 50, and 43% of those aged 50 to 60, report feeling confident in managing their finances. Respondents under 30 are also most willing to seek financial planning advice (54%), compared to the 40 to 50 (35%), and 50 to 60 (28%) age groups.
This signals a clear generational divide in financial confidence and preference for financial advice, underscoring the need for a tailored approach to financial planning and requirement for financial service providers to understand the unique challenges faced by customers across different life stages.
The “CIMB Singapore: Attitudes and Beliefs towards Financial Independence Report 2025”, done in collaboration with the Nanyang Centre for Marketing and Technology[2] captured insights from over 500 Singapore residents aged 26-60 on their perspectives towards financial independence and retirement planning last December.
For more information about InsureXpo by CIMB, visit here.
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[1] F.I.R.E. stands for Financial Independence and Retire Early. It is a movement focused on achieving financial freedom early, rather than waiting for traditional retirement age.
[2] The Nanyang Centre for Marketing and Technology is a research centre under the Nanyang Business School.
About CIMB
CIMB is one of ASEAN’s leading banking groups and Malaysia’s second largest financial services provider by assets, with a market capitalisation of approximately RM88.0 billion as at 31 December 2024 and is listed on Bursa Malaysia. The Group is present in seven ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam and Philippines). Singapore is one of its most important markets with approximately 1,000 employees serving clients across consumer, commercial, wholesale and transaction banking products and services.
CIMB is committed to providing customers with an extensive range of sustainable finance solutions as guided by the Group’s Green, Social, Sustainable Impact Products and Services (“GSSIPS”) framework, an internal taxonomy set by the Group to deliver impactful sustainable finance. The Group tripled its sustainable finance target to RM100 billion by 2024, a substantial increase from its RM30 billion target previously announced in 2021. CIMB is on track to achieving its RM100 billion target, recording over RM80 billion in sustainable finance, as of December 2023.
For media queries, please contact mediasg@cimb.com.
