Circulars
ID 15/25 Update to Notice 133 and Notice FHC-N133 on Additional Criteria for Additional Tier 1 and Tier 2 Capital Instruments for Insurers
Informs insurers on the amendments of Notice 133 and Notice FHC-N133 to include the additional criteria to recognise capital instruments issued by insurers as AT1 or Tier 2 Capital under the RBC 2 framework, subject to the condition that such capital instruments are sold only to persons who are not retail investors in Singapore from 1 January 2026.
Related to this Item
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NoticesLast Revised Date: 16 March 2026
Notice FHC-N133 on Valuation and Capital Framework for Designated Financial Holding Companies (Licensed Insurer)
Notice FHC-N133 sets out the valuation and capital requirements for a Designated Financial Holding Company (Licensed Insurer) based on the enhanced valuation and capital framework (“RBC 2”) consolidation approach.
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NoticesLast Revised Date: 16 March 2026
Notice 133 Valuation and Capital Framework for Insurers
Sets out the requirements under the risk-based capital framework for all licensed insurers, including the way in which assets and liabilities are to be valued.
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CircularsPublished Date: 09 October 2025
ID 12/25 Response to Consultation Paper on Proposed Inclusion of Additional Criteria for Additional Tier 1 and Tier 2 Capital Instruments for Insurers
Informs insurers on the issuance of the Response to Consultation Paper on Proposed Inclusion of Additional Criteria for Additional Tier 1 and Tier 2 Capital Instruments for Insurers.
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ConsultationsPublished Date: 27 March 2025
Consultation Paper on Proposed Equity Counter-Cyclical Adjustment and Inclusion of Additional Criteria for Additional Tier 1 and Tier 2 Capital Instruments for Insurers
This consultation paper sets out the proposed enhancements to the RBC 2 capital treatment for equity counter-cyclical adjustment and additional criteria for Additional Tier 1 and Tier 2 Capital for insurers under RBC 2 framework.
- Consultation number:
- P001 - 2025
- Start date:
- 27 March 2025
- Closing date:
- 28 April 2025
- MAS response date:
- 09 October 2025