SINGAPORE - Pandemic lockdown measures helped motor insurers return to profitability last year, as traffic accident numbers fell. In a statement on Thursday (March 18), the General Insurance Association of Singapore (GIA) said the motor insurance segment posted a 0.7 per cent increase in gross written premiums to $1.13 billion, and an underwriting profit of $104.5 million for 2020. This compared with 2019's $1.12 billion gross written premiums and an overall underwriting loss of $17.4 million. But the association warned that accident numbers are on the rise again as economic activity returns with the easing of Covid-19 measures. "Based on latest statistics, the number of accident reports made monthly are back to more than 80 per cent of December 2019 levels," it noted. If this prevails, motor insurers could return to the state of being in the red this year if premiums remain unchanged, and efforts to curtail excessive and fraudulent claims are not stepped up. "GIA will continue to support efforts to promote road safety and facilitate a more seamless accident reporting process to protect motorists," the association added. Motor insurance remained the largest segment in the industry ...