Amendments to Notices 124, 125 and 126

Circular No. ID 11/22 30 September 2022 To Chief Executives All Licensed Insurers Dear Sir/Madam AMENDMENTS TO THE NOTICES ON ENTERPRISE RISK MANAGEMENT, INVESTMENT AND PUBLIC DISCLOSURE REQUIREMENTS FOR INSURERS On 19 February 2021, the Monetary Authority of Singapore (“MAS”) issued a consultation paper to seek feedback on the proposed revisions to the enterprise risk management (“ERM”), investment and public disclosure requirements for insurers. 2 MAS would like to thank all respondents for their feedback. We have carefully considered the feedback received, and have subsequently amended MAS Notice 126 (ERM for Insurers), MAS Notice 125 (Notice on Investments of Insurers) and MAS Notice 124 (Public Disclosure Requirements). 3 The amendments will take effect on 1 January 2023. The amendments and responses to feedback received are available on MAS’ website (www.mas.gov.sg). 4 Please contact your company’s MAS liaison officer if you have any questions. Thank you. Yours faithfully [sent via MASNET] DANIEL WANG EXECUTIVE DIRECTOR INSURANCE DEPARTMENT