Regulatory Alerts2023-11-30
Added
Amendment to Notice 122 on Asset & Liability Exposures for Insurers
The Monetary Authority of Singapore has amended Notice 122 on Asset and Liability Exposures for Insurers following a consultation process initiated in May 2022. These regulatory changes apply to all licensed insurers in Singapore, excluding captive and marine mutual insurers. The revised notice takes effect on 1 January 2024 and is available on the MAS website.
ONFIDENTIAL Circular No: ID 15/23 30 November 2023 To Chief Executives All Licensed Insurers except for Captive Insurers and Marine Mutual Insurers Dear Sir/Madam AMENDMENT TO NOTICE 122 ON ASSET & LIABILITY EXPOSURES FOR INSURERS Following the consultation response paper issued on 27 May 2022 on the Proposed Changes to Notice 122 on Asset and Liability Exposures for Insurers and Its Implementation (“Notice 122”), the Monetary Authority of Singapore (“MAS”) has made amendments to the Notice 122. 2 The amendments to the Notice 122 will take effect on 1 January 2024. The revised Notice 122 is available on the MAS website (www.mas.gov.sg). Please contact your company’s liaison officer in MAS should you have any queries. Yours faithfully [sent via MASNET] DANIEL WANG EXECUTIVE DIRECTOR INSURANCE DEPARTMENT