News - Singapore: Motor insurers suffer record S$214 million losses in 2008
Source: Asia Insurance Review | Apr 2009
Singapore’s general insurance industry gross premium income rose by a healthy 16% in 2008 to S$2.88 billion (US$1.88 billion) against S$2.48 billion in 2007. However, the overall result was overshadowed by record losses on the motor account amounting to some S$214.1 million, the largest motor loss ever recorded, according to figures released by the General Insurance Association of Singapore (GIA).
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