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.''
RHI, which launched its Shield offering in 2018, said its expenses still include set-up and operational costs, resulting in the underwriting loss. "This...
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