Monetary Authority of Singapore
Singapore amends insurance bill post-Allianz deal
Key concern raised by the MCCY is the terms and structure of the deal.
Singapore amends insurance bill post-Allianz deal
Key concern raised by the MCCY is the terms and structure of the deal.
MAS to assess capital plans in Allianz-Income deal
It will evaluate if Allianz’ acquisition meets regulatory requirements.
Only a third of Singaporeans have critical illness coverage
A quarter of Gen Zs did not meet MAS’ financial planning guidelines.
MAS banks on financial institutions to enforce robust IT security
All FIs in Singapore must comply with the Personal Data Protection Act (PDPA).
MAS confirms no competitive concerns with Allianz deal
Income's market share in life and general insurance is less than 10%.
Singapore insurers thrive under RBC 2 Regime
MAS had introduced the capital regime back in 2004.
MAS revokes insurance broker license of Acesynergy Brokers
ABPL failed to comply with regulatory requirements.
IRAS, MAS revise tax treatment of insurance reserves
Previously, reserves were non-deductible as estimates of contingent liabilities.
MAS slaps 12-year ban on ex-Manulife rep for cheating
Ong Ka Yong was sentenced to 47 months’ imprisonment on 4 September 2023.
Online nomination of insurance beneficiaries available soon: MAS
Singapore has amended insurance regulations to allow online nomination of beneficiaries.
MAS floats raising deposit insurance coverage to S$100,000
This will result in 91% of deposits being fully covered by deposit insurance.
MAS slams 6 ex-Great Eastern financial advisers with prohibition orders
This follows after the six individuals were convicted of tax evasion.
MAS issues 8-year ban to former AIG, Liberty insurance agent
Yeo Siew Liang James was convicted of 18 counts of corruption in 2021.
Singapore launches digital banker’s guarantee, insurance bond
The eGuarantee@Gov is available from over 20 financial institutions locally.
Moody's: MAS measures against erring insurers to boost client confidence
The overall business impact would be temporary because no further penalties were handed out.
Singapore's MAS reprimands AIA FA, Prudential, Aviva FA & CEO for breach of rules
They failed to properly monitor individuals onboarded as advisors, directors.
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1. Allianz-Income merger in limbo as parties weigh new rules 2. India's life insurance growth slows to 10.6% in October 3. South Korean insurers brace for profit squeeze amidst rate cuts 4. bolttech secures $50m venture debt from HSBC, expands market 5. Life insurance premiums forecast to grow by 3% yearly until 2026Resource Center
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Humans need to be in insurance’s genAI loop
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Insurance
Employees still need to interpret AI-generated data and make decisions to minimise risks.
Employees still need to interpret AI-generated data and make decisions to minimise risks.
