MSIG Singapore has been recognised as a leader in the insurance industry, clinching two prestigious awards at the inaugural Asia Consumer Insurance Awards 2025. The company was named Personal Lines Insurer of the Year and received the Underwriting Excellence award, highlighting its commitment to strong business performance and customer-focused innovation.
The awards, organised by Rein Asia, celebrate companies that are redefining excellence and innovation in Asia’s insurance sector. In 2024, MSIG Singapore achieved an underwriting profit of $187m and increased its profit after tax by 51%. The company continues to lead in the personal lines segment, which now accounts for nearly 40% of its total revenue, through innovative retail offerings and strategic partnerships.
Steven Leong, Head of Retail Distribution, stated, “Winning the award is a powerful endorsement to our personal lines strategy. It affirms our commitment to putting customers at the heart of everything we do.” Jeremy Lian, Head of Technical Services, added, “This is a proud moment for our underwriting team whose technical expertise, dedication, and innovative mindset have contributed to the company’s success.”
MSIG’s digital transformation strategy, incorporating Generative AI and automation, has streamlined its insurance value chain, enhancing customer service and operational efficiency. The judges praised MSIG for its data-rich submission, demonstrating tangible customer benefits and measurable impact.
With over 100 years of local presence, MSIG Singapore continues to deliver innovative and customer-centric solutions, maintaining an A-Stable financial rating by Standard & Poor’s. As a subsidiary of Mitsui Sumitomo Insurance Co. Ltd, MSIG is part of one of the largest general insurance groups globally, with a significant presence in the Asia Pacific region.
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