Regulatory Alerts2020-12-24
Added
Guidelines on the Preparation of the Actuarial Investigation Report and Updates to Notice 133
The Monetary Authority of Singapore issued Circular No. ID 40/20 to direct licensed insurers to apply Guidelines No. ID 01/20 for preparing actuarial investigation reports required under Section 37 of the Insurance Act. These new guidelines, which incorporate feedback from industry stakeholders and align with the RBC 2 framework, take effect for accounting periods on or after 1 January 2020. Concurrently, MAS updated Notice 133 to reference the new guidelines and clarify provisions following questions raised during the RBC 2 implementation.
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