Motor-insurance market to grow next year: AIG

Singapore

THE motor insurance market is expected to grow in the year ahead, given a rising number of rental vehicles, greater use of telematics and the trend of buyers of new cars being younger.

AIG Asia Pacific Insurance said on Wednesday that these trends have emerged at a time of growth in the sharing economy, and that this could lead to a 20 per cent rise in the number of rental vehicles on Singapore roads next year.