Integrated Shield insurers post stronger results in 2025, but recovery may be fragile
Industry margins are thin, and part of 2025’s performance likely came from the premium increases in September 2024
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POLICYHOLDERS of Integrated Shield Plans (IPs) can generally heave a sigh of relief. Most insurers appear to have staged a turnaround in their underwriting results, but it remains to be seen whether this marks the start of a sustainable trend.
Among the most dramatic results were those of Income Insurance, which reported an underwriting profit of S$18.8 million, from its loss of more than S$49.4 million at end-2024.
Great Eastern increased its underwriting profit to S$8.39 million from S$4.8 million in 2024. In 2023, it had incurred a loss of S$44.8 million.
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