For subscribers
Motor insurance premiums to rise this year
Sign up now: Get ST's newsletters delivered to your inbox
Market observers noted that some insurers have started raising their premiums and expect more to follow suit in the following months.
ST PHOTO: CHONG JUN LIANG
Follow topic:
SINGAPORE - Premiums for motor insurance are set to rise by as much as 10 per cent after insurers reported large underwriting losses in 2022.
Despite a profitable 2021, which saw an underwriting profit of $49.7 million, Singapore’s motor insurance sector recorded an underwriting loss of $21.6 million in 2022.
