Regulatory Alerts2020-03-05
Added
Notice 101 Maintenance of Insurance Funds
The Monetary Authority of Singapore issued Notice 101 to establish requirements for all licensed insurers regarding the maintenance of insurance funds. The notice mandates specific operational safeguards for managing insurance funds, handling the Policy Owners' Protection Fund levy, and switching assets between funds. These rules ensure effective and consistent implementation of the fund concept to protect policyholders.
Notices
Last Revised Date: 05 March 2020
Notice 101 Maintenance of Insurance Funds
Requirements for insurers on the maintenance of insurance funds.
View Notice
Notice 101 Maintenance of Insurance Funds
(216.5 KB)
This notice applies to all licensed insurers.
It sets out requirements on:
The management of insurance funds.
Policy Owners' Protection Fund (PPF) levy.
Switching of assets between insurance funds.
05 Mar 2020
MAS 101 (Amendment) 2020 (356.5 KB)
28 Aug 2004
MAS Notice 101 dated 28 August 2004 (11.1 KB) [cancelled with effect from 21 Oct 2011 ]
Sets out the specific operational safeguards that insurers should put in place for effective and consistent implementation of the fund concept.