Regulatory Alerts2020-12-30
Added · Updated
MAS Notice 100 Licensing of Insurers
Licensed insurers must seek approval from or notify the Monetary Authority of Singapore regarding changes to licensing particulars listed in Appendix A. Specifically, locally incorporated insurers require approval for changes to their name or paid-up capital, while all licensed insurers must notify the Authority of changes to head office details, Singapore office address, issued capital, or financial year-end. Such notifications must be submitted as soon as possible but no later than one month after the change occurs. The notice defines terms such as foreign incorporated insurer, holding company, and locally incorporated insurer, and deletes previous licensing provisions.