NTUC Income still the top insurer for car insurance

As the biggest motor insurer, Income accounts for 21 per cent of the industry's $1,166 million in 2010 gross premiums (see table). The MAS figures, released last month, show that Chartis continues in runner-up position with a 19.5 per cent market share while AXA has 15 per cent.

But the Big 3's total market share dropped to 55.5 per cent in 2010, from 57.7 per cent the previous year, even though gross premiums for the motor insurance business climbed 9.7 per cent from 2009's $1,063.1 million. The Big 3's combined market share has been slowly falling over the years after hitting as high as 70 per cent in the early part of the 2000s.



NTUC Income still the top insurer for car insurance