Regulatory Alerts2019-05-06
Added
Issuance of Technical Specifications for RBC 2 Parallel Run for Year Ended 31 December 2018
The Monetary Authority of Singapore issued technical specifications requiring licensed insurers to conduct a parallel run of the Risk-Based Capital 2 framework for the year ended 31 December 2018. This directive mandates that direct and reinsurance entities, excluding captives and marine mutuals, submit specific returns to the regulator to assess capital adequacy under the new valuation standards. The issuance provides essential resources, including workbooks and spot rates, to facilitate the quantitative impact study and ensure compliance with the updated risk-based capital framework.