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Globalsurance Reveals Singapore Medical Insurance Inflation Rates for 2013
Date:9/10/2013

(PRWEB) September 11, 2013

Earlier this month Globalsurance revealed the insurance premium inflation rates for several insurers in Singapore as a part of their second annual International Private Medical Insurance Review.

In the review, approximately 7,680 points of data were gathered from eight insurers – Aetna Global Benefits, Allianz WorldWide Care, AXA PPP, Bupa International, Globality Health, IHI Danmark/IHI Bupa, Interglobal, and William Russell.

Globalsurance looked at the insurers' data for Singapore and nine other countries - Brazil, China, Dubai, Hong Kong, Indonesia, Kenya, Philippines, Thailand, and the UK.

For all the insurers Globalsurance examined, the average premiums inflation rate over the last twelve months was 11.3% in Singapore, 8.3% for all ten countries, and 11.0% for high-cost Asian countries (Hong Kong, China, and Singapore). The insurer with the lowest premiums increase in Singapore for 2013 was InterGlobal at 1.6%, and the insurer with the highest increase was Globality Health at 34.1%.

Over the last five years, the average yearly inflation rate was 11.6% in Singapore, the same as the average increase for high-cost Asian countries, and 9.8% for all ten countries in the study. The insurers with the lowest and highest average yearly inflation rates in Singapore were once again InterGlobal and Globality Health, with 9.1% and 20.9% respectively.

Of the ten regions included in the study, Singapore displayed the highest rate of inflation for the last twelve months and the most significant deviations over the last five years. Premium inflation in Singapore dropped from 16.7% in 2009 down to a signi
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