HOME-GROWN insurer Singlife announced on Monday (Jan 2) that it has won the public tender to remain the official insurer of Ministry of Defence (Mindef) and Ministry of Home Affairs (MHA) personnel for life and personal accident insurance coverage.

The company assumed the Mindef and MHA group insurance scheme portfolio that was held by Aviva Singapore following a S$3.2 billion merger between the two insurers that was first announced in 2020.

The scheme will also see some enhancements. These include the doubling of cover for the group term life and group personal accident (GPA) policies of the core scheme from S$150,000 to S$300,000 each.

Furthermore, the GPA policy will be renamed as the group personal injury (GPI) policy and cover more conditions such as noise-induced hearing damage and decompression sickness. Servicemen can also purchase coverage of up to S$1 million under the GPI policy, an increase from the current maximum of S$600,000.

Aviva had administered the SAF group term life insurance scheme since 1983, before it was later changed into the Mindef and MHA group insurance scheme in 2016.