Singapore's insurance sector recorded 'stable growth' before coronavirus outbreak

clock • 2 min read

The General Insurance Association of Singapore (GIA) today announced that the sector achieved stable growth with 7.6% annual growth in gross written premiums, totalling S$4.10bn at the end of 2019. The sector has reported it paid out 12.2%, or S$159m, more in insurance claims in 2019, which contributed to the sector recording an underwriting loss of S$28 million. The top five segments, which represent 70% of the general insurance market, recorded a combined underwriting loss of S$43.4m. ...

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Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.