Strong profits for most insurers’ Integrated Shield portfolios, but brace for premium hikes
Five of 7 Shield insurers will raise premiums mostly for private-hospital plans and riders this year, citing ageing population and higher healthcare inflation
Genevieve Cua
DESPITE markedly stronger underwriting results for 2021, most insurers with Integrated Shield (IP) plans will raise premiums this year, mostly of private-hospital base plans and riders.
Of the 7 insurers in the IP scheme, 5 are raising premiums in varying degrees. These are Income, AIA, AXA, Prudential and Singlife with Aviva. The exceptions for now are Great Eastern and Raffles Health Insurance (RHI).
GE said: “However, we will review and evaluate the situation for the good of our policyholders and the long-term sustainability of Shield plans.’’
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