Regulatory Alerts2026-03-16
Added · Updated
Notice FHC-N133 on Valuation and Capital Framework for Designated Financial Holding Companies (Licensed Insurer)
MAS Notice FHC-N133 establishes valuation and capital requirements for Designated Financial Holding Companies with a licensed insurer subsidiary, utilizing the Risk Based Capital 2 consolidation approach. The framework mandates specific capital treatments for structured products, infrastructure investments, and equity counter-cyclical adjustments. It also introduces additional criteria for recognizing capital instruments as Additional Tier 1 or Tier 2 Capital, restricting such instruments to non-retail investors in Singapore starting from 1 January 2026. These requirements apply to all Designated Financial Holding Companies (Licensed Insurer) and licensed insurers, excluding Captive Insurers, Marine Mutual Insurers, and SPRVs.