Motor insurers hit by rising costs, rivalry for business keeps higher premiums in check

The motor insurance sector saw a total underwriting loss of $15.4 million from April to June. ST PHOTO: KUA CHEE SIONG
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SINGAPORE - Rising inflation has hit the motor insurance sector but a battle for market share has helped to cushion a rise in premiums, said industry experts.

Following AXA Singapore's exit from the motor insurance business earlier this year, the fight to tap this opportunity to capture new customers has intensified.

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