This Asia e-Alert reviews the position of participating (par) funds in Singapore at the end of 2024, based on public information published in 2025, and compares it to previous years. The review looks at both investment performance, and solvency and capital positions. At an overall industry level we have observed decent investment returns on average, although not as strong as in 2023. Most companies have maintained healthy par fund solvency ratios without the need for additional capital support from shareholders. There are, however, variations between insurers with investment returns for 2024, ranging from 2.04% to 8.26%, and two insurers appeared to increase shareholder surplus account support, while others reduced this.