Singapore general insurance posts S$28m hit in 2019
Five biggest segments - motor, health, property, travel and employer's liability - saw S$43.4m underwriting loss
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Fiona Lam
Singapore
SINGAPORE'S general insurance market posted an underwriting loss of S$28 million last year, versus an underwriting profit of S$36.3 million in 2018.
The loss was largely due to a 12.2 per cent or S$159 million increase in total insurance claims paid out last year, the General Insurance Association of Singapore (GIA) said in results released on Tuesday.
