Insurers may carry on insurance business in Singapore as licensed insurers, authorised reinsurers, approved Marine, Aviation and Transit (MAT) insurers, or foreign insurers. Insurance brokers may conduct insurance broking activities in Singapore as registered insurance brokers or approved insurance brokers. Find out about the regulations, updates and licensing for such institutions.
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Prudential and Supervisory Requirements
Licensing, Authorisation and Registration
Sets out MAS’ supervisory expectations of financial institutions’ (“FIs”) controls to address the misuse of legal persons risks and typologies observed.
(a) Form for registered insurance brokers to notify MAS of cancellation of registration; and (b) Form for approved insurance brokers to notify MAS of withdrawal of approved insurance broker status. The form is to be submitted to MAS before the cancellation of registration or withdrawal of approved insurance broker status.
Form for potential acquirers to seek MAS' approval for obtaining effective control of registered insurance brokers.
Form for registered insurance brokers to apply for the appointment of a Chief Executive Officer or Director.
Application for Registration as an Insurance Broker.