Singapore

Details

  • Service: Advisory
  • Type: Publication series
  • Date: 8/20/2013

Revisions to the Risk-Based Capital Framework 

The ongoing insurance regulatory developments in the international markets remain a central theme for the industry. To further enhance Singapore’s insurance Risk-Based Capital framework, the Monetary Authority of Singapore (MAS) has conducted further regulatory reviews of corporate governance, risk management, risk-based capital standards and group supervision for insurers.

The new Risk-Based Capital (RBC) and Enterprise Risk Management (ERM) requirements represent a significant change in Singapore’s regulatory environment. A fundamental review of insurance business models will be necessary to ensure that governance, processes and capabilities are fit for purpose under the new regime.
Revisions to the Risk-Based Capital Framework
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In this publication, we will discuss the upcoming RBC 2 and ERM framework requirements and how the proposed changes will affect insurers in Singapore.