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What were the premiums collected and claims paid in recent years? What is the Fund’s incurred loss ratio?
moh
The premiums collected, claims paid, change in required reserves for scheme liabilities and the Fund’s incurred loss ratio are shown in the table below.
Table: MediShield Life Fund Incurred Loss Ratio (in $millions)
Year | Premiums Collected [A] | Total Monies Required for Fund Operations [B] + [C] | Incurred Loss Ratio ([B] + [C]) / [A] | |
Claims Paid [B] | Change in Required Reserves [C] | |||
| 2016 | $1,859m | $745m | $1,182m | 104% |
| 2017 | $1,882m | $836m | $969m | 96% |
| 2018 | $1,914m | $1,030m | $1,166m | 114% |
| 2019 | $1,923m | $1,030m | $1,166m | 114% |
2016 - 2019 | $7,578m | $3,533m | $4,314m | 104% |
This information provided here is sourced from the MOH website.
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