The General Insurance Association of Singapore (GIA) has revealed its results for the first half of 2018, with a near-flat premium growth of 1.1% in total gross premiums, accompanied by a huge dip in underwriting profits.
The general insurance market brought in total gross premiums of SG$2.07 billion, with fire, motor, and work injury compensation (WIC) insurance premiums decreasing between 0.2% and 2.4%. Personal accident premiums increased by 0.3%, while health insurance was the one bright spot, with an 11% increase in premiums to SG$322 million.
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