POLICYHOLDERS of traditional with-profits plans can heave a sigh of relief that their plans' annual bonuses will not be cut for now, despite a generally muted performance among insurance life funds in 2021.
Based on a compilation by The Business Times, the performance in 2021 among insurers' participating funds ranged between a high of over 5 per cent and a loss of more than 7 per cent. These returns are lower than the returns of 2020 which were in the high single-digit, and 2019 in double-digits. Prudential's Singapore-dollar life fund posted returns of 5.13 per cent, just a tad below its 2020 return. AXA's life fund reported minus 7 per cent in returns. It will not cut bonuses this year.
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