Regulatory Alerts2024-06-27
Added
Notice 134 Recovery and Resolution Planning
The Monetary Authority of Singapore issued Notice 134 to establish recovery and resolution planning requirements for notified insurers and designated financial holding companies with licensed insurance subsidiaries. The regulation mandates that these entities comply with specific planning obligations to ensure financial stability and orderly resolution. An amendment to this notice is scheduled to take effect on 1 January 2025, following a consultation process that concluded in late 2024.
Notices
Last Revised Date: 27 June 2024
Notice 134 Recovery and Resolution Planning
Sets out the requirements on recovery and resolution planning for notified insurers and notified designated financial holding companies that has a subsidiary that is a licensed insurer incorporated, formed or established in Singapore (“DFHC (Licensed Insurer”)).
View Notice
Notice 134 Recovery and Resolution Planning
(136.9 KB)
This Notice applies to notified insurers and notified DFHC (Licensed Insurer). It sets out the requirements that a notified insurer and a notified DFHC (Licensed Insurer) have to comply with in its recovery and resolution planning.
27 June 2024
Notice 134 Recovery and Resolution Planning (136.9 KB)
Notice 134 Recovery and Resolution Planning Amendment 2024 (148.3 KB) takes effect on 1 Jan 2025
09 May 2024
Notice 134 Recovery and Resolution Planning for Insurers (130.1 KB)
Notice 134 Cancellation 2024 (89.7 KB)
29 December 2023
Notice 134 Recovery and Resolution Planning for Insurers (130.6 KB) [Cancelled with effect from 10 May 2024].
Issuance of Guidelines to MAS Notice 134 on Recovery and Resolution Planning (“Guidelines To MAS Notice 134”) and Response to Feedback on Consultation Paper.
Guidelines for notified insurers and notified DFHC (Licensed Insurer)s on recovery and resolution planning requirements under MAS Notice 134.
This consultation paper sets out MAS' proposals on the new guidelines for recovery and resolution planning.
Consultation number:
P009-2024
Closing date:
25 October 2024
MAS response date:
26 December 2024
Informs insurers on the issuance of the Notice for Recovery and Resolution Planning for Insurers ("MAS Notice 134") and Response to Feedback on Consultation Paper.
Informs insurers on the release of the consultation paper on new notice for recovery and resolution planning for insurers and proposed enhancement of resolution powers for the insurance sector.
This consultation paper sets out MAS' proposals on the new notice for recovery and resolution planning for insurers and proposed enhancement of resolution powers for the insurance sector.
Consultation number:
P010 - 2023
Closing date:
31 October 2023
MAS response date:
12 September 2024