Regulatory Alerts2026-03-16
Added
Issuance of Revised Notice 133 and Notice FHC-N133
The Monetary Authority of Singapore issued revised Notice 133 and Notice FHC-N133 on 16 March 2026 to update regulatory capital requirements for licensed insurers and designated financial holding companies. The revisions introduce an equity counter-cyclical adjustment and new capital treatment rules for structured products and infrastructure investments. These changes take effect on 31 March 2026 and apply to MAS reporting starting from the first quarter of 2026.
Circular No: ID 05/26 16 March 2026 To Chief Executives All Licensed Insurers All Designated Financial Holding Companies (Licensed Insurer) Dear Sir/Madam ISSUANCE OF REVISED NOTICE 133 AND NOTICE FHC-N133 MAS has issued the revised Notice 133 and Notice FHC-N133 on 16 March 2026. The revision includes the proposed introduction of equity counter-cyclical adjustment (CCA)1 , and the capital treatment for structured products and infrastructure investments2 , amongst others. These changes will take effect on 31 March 2026 and apply to MAS’ Q1 2026 reporting onwards. 2 Please contact your company’s liaison officer in MAS should you have any queries. Yours faithfully [sent via MAS-Tx] DANIEL WANG EXECUTIVE DIRECTOR INSURANCE DEPARTMENT 1 https://www.mas.gov.sg/regulation/circulars/id10_25 2 https://www.mas.gov.sg/regulation/circulars/id13_25