Singapore Insurance

Motor insurance losses down It seems like Motor insurance underwriting losses are down for 2009. The underwriting loss for 2009 was $44.5 million compared to the $214 million in 2008. With a lower underwriting loss, consumers can expect a less drastic rise in motor insurance premiums for their cars. Insurance premiums will most probably stabilise and even if they do increase, will be by a lesser quantum compared to the previous year. This news will definitely be welcomed by motorists. A lot however still needs to be done to make sure that the motor insurance claims regulatory framework is closely monitored to ensure that nobody abuses the system.

I finally received a letter from AIA regarding the recent news about Prudential's potential takeover. Dear XXXX, As you have probably seen in the news, AIG has entered into a definitive agreement to sell AIA to Prudential for approximately US$35.5 billion, subject to Prudential's shareholder approval, regulatory approvals and customary closing conditions. AIA is a strong and successful organisation today because of our focus on meeting your needs, supported by a dedicated agency force, distributors and professional employees. We understand Prudential and AIG are devoted to preserving the AIA brand and its commitments. We would like to assure you it is business-as-usual for us and our focus will continue to remain on you, our customer. We will continue to provide you with products and services that meet your needs now and into the future. There are no changes to the policies you have with us and all policyholder obligations will be honoured. If you have questions, please do no...