01-01-2015, 03:28 PM
(This post was last modified: 01-01-2015, 03:29 PM by SpeedingBullet.)
(01-01-2015, 03:26 AM)nervesofsteel Wrote: Pls correct me if im wrong, if we exclude the one time adjustments for adjustment in unearned premium reserves (UPR) in 2013, underwriting margins seems to have fallen quite a fair bit in 9m14 (14%) compared to 9m13 (19%) , 9m12 (17%).
Is this due to intense competition?
Insurance rates worldwide have been under immense pressure due to competition. And a big dog has just entered Singapore to make it worse - Berkshire Hathaway. Their insurer license just got approved on early December, and they poached many high level ex-AIG Asia executives over in their push into this region.
UOI's expense ratio is finally positive, end of a long run.