RegAlertRule · MAS · 29 Dec 2023
Issuance of Notice for Recovery and Resolution Planning for Insurers (MAS Notice 134) and Response to Feedback
The Monetary Authority of Singapore issued MAS Notice 134 to establish recovery and resolution planning requirements for domestic systemically important insurers. This notice follows a consultation process where MAS considered feedback on the proposed regulatory framework to enhance preparedness. The final notice and the authority's response to stakeholder comments are now available on the MAS website.
Circular No: ID 20/23
29 December 2023
To Chief Executives
All Licensed Insurers
Dear Sir/Madam
ISSUANCE OF NOTICE FOR RECOVERY AND RESOLUTION PLANNING FOR INSURERS (“MAS NOTICE 134”) AND RESPONSE TO FEEDBACK ON CONSULTATION PAPER On 29 September 2023, the Monetary Authority of Singapore (MAS) issued a consultation paper to seek feedback on the proposed MAS Notice 134. MAS Notice 134 applies to insurers notified by MAS (“notified insurers”) and sets out requirements to support recovery and resolution preparedness for the notified insurers. Notified insurers will be the domestic systemically important insurers (D-SIIs) for now. 2 MAS would like to thank all respondents for their feedback. We have carefully considered all comments received. MAS Notice 134 and our response are available on the MAS website (www.mas.gov.sg). 3 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
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- Definition / condition 4
- background, boilerplate
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