Insurance underwriting profits up 4.4%

Singapore's general insurance industry recorded a gross premium income of S$3.03 billion in 2010, up 3.7 per cent from the previous year. This was announced by the General Insurance Association of Singapore.

The industry also made a 4.4 per cent or S$198.1 million profit from underwriting, compared with S$189.7 million in 2009.

Its total incurred loss ratio was 57.6 per cent down from 58.4 per cent.

Flash floods in2010 caused an underwriting loss of S$48.9 million within motor vehicle insurance, compared with S$44.5 million in 2009. Because of this, motor vehicle insurance premiums are expected to rise in the coming year.

Overall, motor insurance accounted for 38.8 per cent of the general insurance pie, up from 36.8 per cent in 2009.

Health insurance made the biggest loss in underwriting profits, dropping 56 per cent to S$4.6 million. In 2009, underwriting profits totaled S$10.4 million.

Work injury compensation made the biggest leap in underwriting profits, which totaled S$5 million in 2010. This is a 141 per cent increase from the S$12.3 million loss in 2009.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia