Admission Criteria for Special Purpose Reinsurance Vehicles ("SPRV")

In assessing an application for life and/or general SPRV licences, MAS takes into consideration factors similar to those for reinsurers' licences. In addition, the applicant should satisfy MAS that it will be structured as a bankruptcy remote vehicle separate from the ceding insurer/originator by means of, for instance, the vehicle being owned by a charitable trust. The SPRV must also demonstrate how it will maintain the fully funded status of the vehicle at all times.

Key Resources

Last Modified on 07/09/2017