Singapore's domestic General Insurance GWP tops SG$5bn (US$3.7bn), but underwriting profits dip as country's two largest lines of business record losses.
Sean Carmody acknowledged that reducing Australia's protection gap is a 'wicked problem', but he encouraged insurers to take ownership and find opportunities to make a difference.
Insurance Commission increases CMVLI limits for third-party liability, death indemnity, and no-fault indemnity — while stipulating rates set in 2006 are to remain.
