Integrated Shield insurers post stronger results in 2025, but recovery may be fragile

Integrated Shield insurers post stronger results in 2025, but recovery may be fragile

July 2, 2026 / Nathan Pine /


Industry margins are thin, and part of 2025’s performance likely came from the premium increases in September 2024

POLICYHOLDERS of Integrated Shield Plans (IPs) can generally heave a sigh of relief. Most insurers appear to have staged a turnaround in their underwriting results, but it remains to be seen whether this marks the start of a sustainable trend.

Among the most dramatic results were those of Income Insurance, which reported an underwriting profit of S$18.8 million, from its loss of more than S$49.4 million at end-2024.

Great Eastern increased its underwriting profit to S$8.39 million from S$4.8 million in 2024. In 2023, it had incurred a loss of S$44.8 million.



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Nathan Pine

I focus on highlighting the latest in business and entrepreneurship. I enjoy bringing fresh perspectives to the table and sharing stories that inspire growth and innovation.

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