Regulatory Alerts2020-11-16
Added
Notice 320 Management of Participating Life Insurance Business
The Monetary Authority of Singapore issued Notice 320 to establish requirements for direct insurers licensed to carry on life business regarding the management of participating life insurance business. The notice mandates the implementation of internal governance policies, specific controls for the allocation of charges and expenses, and enhanced disclosures related to these operations. These requirements were finalized following a consultation process and are subject to amendments effective from January 2021.
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