Regulatory Alerts2023-12-07
Added
MAS Notice FHC-N129 on Returns
The Monetary Authority of Singapore issues Notice FHC-N129 to establish submission requirements, forms, and deadlines for financial returns lodged by designated financial holding companies with licensed insurance subsidiaries. This notice was amended by MAS Notice FHC-N129 (Amendment) 2023, which takes effect on 1 January 2024, to align with the valuation and capital requirements under MAS Notice FHC-N133. The regulatory framework applies to all designated financial holding companies with Singapore-incorporated licensed insurer subsidiaries, excluding captive insurers, marine mutual insurers, and special purpose reinsurance vehicles.
Notices
Last Revised Date: 07 December 2023
Notice FHC-N129 on Returns
Requirements on the returns to be lodged with MAS for designated financial holding companies that have a subsidiary that is a licensed insurer incorporated, formed or established in Singapore.
Financial Returns
Applies to:
Financial Holding Company (Insurance)
View Notice
Notice FHC-N129 on Returns
(1.87 MB)
This Notice applies to all designated financial holding companies that have a subsidiary that is a licensed insurer incorporated, formed or established in Singapore. It sets out the forms, submission requirements and deadlines for the returns to be submitted by such financial holding companies.
07 December 2023
MAS Notice FHC-N129 on Returns (1.87 MB)
MAS Notice FHC-N129 (Amendment) 2023 (2.12 MB) takes effect on 1 Jan 2024.
29 June 2022
Notice FHC-N129 on Returns (2.48 MB) takes effect on 1 Jul 2022.
Notice FHC-N133 sets out the valuation and capital requirements for a Designated Financial Holding Company (Licensed Insurer) based on the enhanced valuation and capital framework (“RBC 2”) consolidation approach.
Informs all Designated Financial Holding Companies (Licensed Insurer) and licensed insurers (except for Captive Insurers, Marine Mutual Insurers and SPRVs) of amendments made to MAS Notice FHC-N126 on Enterprise Risk Management.
Informs all Designated Financial Holding Companies (Licensed Insurer) and licensed insurers (except for Captive Insurers, Marine Mutual Insurers and SPRVs) of amendments made to MAS Notice FHC-N129 on Returns. This is to take into account the valuation and capital requirements under MAS Notice FHC-N133.
Informs all licensed insurers and Designated Financial Holding Companies (Licensed Insurer) of the issuance of Notice FHC-N133 which sets out the valuation and capital requirements for a DFHC (Licensed Insurer) based on the enhanced valuation and capital framework (“RBC 2”) consolidation approach.
This consultation paper sets out the valuation and capital requirements for a Designated Financial Holding Company (Licensed Insurer) (“DFHC (Licensed Insurer)”) based on Risk Based Capital 2 consolidation approach.
Consultation number:
P010 - 2022
Start date:
27 October 2022
Closing date:
15 December 2022
MAS response date:
28 July 2023
Informs designated financial holding companies that have a subsidiary that is a licensed insurer incorporated, formed or established in Singapore on the application forms for the purpose of seeking the approval of MAS for the appointment of auditor.
Requirements for licensed insurers, except for captive insurers, marine mutual insurers and special purpose reinsurance vehicles, on the returns to be lodged with MAS.