Chartis is number 1 for general insurance

Chartis is number 1 for general insurance in Singapore

Wow what a surprise, Chartis is actually the number 1 for general insurance ... despite being in the news for the wrong things when AIG got into trouble a few years ago

NTUC Income may be numero uno among motor insurers but when it comes to the entire general insurance business, Chartis is the market leader.

Monetary Authority of Singapore (MAS) statistics show that among direct insurers in 2010, Chartis - previously known as AIG - had a total of $449.5 million in gross written premiums in 2010. 

This is 14.7 per cent of the $3,059.2 million in premiums earned by all the members of the General Insurance Association of Singapore (GIA). 

AXA came in at No 2 with $305.4 million or a 10 per cent market share. As for Income, it is ranked No 3 in the industry with $299.8 million in gross premiums for a 9.8 per cent market share.