Inclusion of Domestic Systemically Important Insurers Framework in MAS Framework for Impact and Risk Assessment

Circular No: ID 06/24 22 March 2024 To Chief Executives All Licensed Insurers Dear Sir/Madam Inclusion of Domestic Systemically Important Insurers (D-SII) Framework in MAS’ Framework for Impact and Risk Assessment of Financial Institutions On 21 September 2023, MAS issued the consultation response for the D-SII framework, along with the inaugural list of D-SIIs effective 1 January 2024. This was followed by a public consultation on a new Notice for recovery and resolution planning for insurers (“MAS Notice 134”). MAS Notice 134 was issued on 29 December 2023 and applies to insurers notified by MAS (“notified insurers”). Notified insurers are D-SIIs for now. 2 The MAS’ Framework for Impact and Risk Assessment of Financial Institutions (“Monograph”) has been updated to include the D-SII framework and policy measures under Appendix 2. The Monograph is available on MAS website: https://www.mas.gov.sg/publications/monographs-or-information-paper/2007/mas￾framework-for-impact-and-risk-assessment-of-financial-institutions. Yours faithfully [sent via MASNET] DANIEL WANG EXECUTIVE DIRECTOR INSURANCE DEPARTMENT