Competitive Strategies to Maintain Singapore as Preferred Marine Insurance Hub

Mr Yip Hon Weng asked the Acting Minister for Transport (a) what is Singapore's stake in providing marine war-risk insurance for shipping in the Arabian Gulf; (b) what strategies ensure we remain the region's preferred marine insurance hub against cheaper competitors; and (c) whether our tax concessions for ship-leasing, marine insurance and shipping management remain globally competitive.

Mr Jeffrey Siow: This question was addressed by the Deputy Prime Minister and Minister for Trade and Industry, the Acting Minister for Transport and Senior Minister of State for Finance, and the Coordinating Minister for National Security and Minister for Home Affairs, in their Ministerial Statements on the Impact of the Middle East Situation on Singapore at the Parliamentary Sitting on 7 April 2026.