Guidelines
Guidelines on Risk Management Practices for Insurance Business - Core Activities
Guidelines on sound practices in carrying out insurance business and principles relating to risk management framework.
These guidelines apply to all insurers.
They set out:
- Sound practices in carrying out insurance business, covering core activities such as product development, pricing, underwriting, claims handling and reinsurance management.
- Principles that should be embedded in a risk management framework.
Amendment Notes
- 10 Jan 2024
- Previous version dated 1 Mar 2013 (94.9 KB) takes effect. (Cancelled with effect from 10 Jan 2024)
Related to this Item
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CircularsPublished Date: 05 March 2026
ID 04/26 Issuance of Guidelines on Transition Planning (Insurers)
Inform insurers of the publication of an addendum on transition planning to the Guidelines on Environmental Risk Management, which sets out more detailed supervisory expectations for insurers to manage the transition and physical risks they face from climate change as part of a sound transition planning process.
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GuidelinesLast Revised Date: 05 March 2026
Guidelines on Environmental Risk Management for Insurers
These guidelines set out MAS' expectations on environmental risk management for all insurers.
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GuidelinesLast Revised Date: 30 June 2025
Guidelines on Prevention of Money Laundering and Countering the Financing of Terrorism - Direct General Insurance Business, Reinsurance Business, and Direct Life Insurance Business (Accident & Health Policies)
Guidelines on processes and controls to prevent money laundering and countering the financing of terrorism, in relation to general insurance and reinsurance business as well as business related to accident and health policies.
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NoticesLast Revised Date: 20 November 2024
Notice 302 Product Development and Pricing
Requirements for the development and pricing of life insurance products and investment-linked policy sub-funds.
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GuidelinesLast Revised Date: 10 July 2024
Guidelines on Risk Management Practices – Internal Controls
Guidance to financial institutions on sound practices for their internal control environment and business process controls.
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CircularsPublished Date: 10 January 2024
ID 01/24 Amendments to Guidelines on Risk Management Practices for Insurance Business - Core Activities and Guidelines on Risk Management Practices for Insurance Business - Insurance Fraud Risk
Informs insurers on the issuance of the revised Guidelines on Risk Management Practices for Insurance Business - Core Activities and revised Guidelines on Risk Management Practices for Insurance Business - Insurance Fraud Risk.
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GuidelinesLast Revised Date: 10 January 2024
Guidelines on Risk Management Practices for Insurance Business - Insurance Fraud Risk
Guidelines on risk management practices to mitigate insurance fraud risk.
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ConsultationsPublished Date: 18 October 2023
Consultation Paper on Guidelines on Transition Planning for Insurers
This consultation sets out MAS’ proposed Guidelines on Transition Planning for all insurers. The Guidelines set out the expectation for these financial institutions to have a sound transition planning process to enable effective climate change mitigation and adaptation measures by their customers, asset managers and investees in the global transition to a net zero economy and the expected physical effects of climate change.
- Consultation number:
- P013-2023
- Start date:
- 18 October 2023
- Closing date:
- 18 December 2023
- MAS response date:
- 05 March 2026
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NoticesLast Revised Date: 30 September 2022
Notice 126 Enterprise Risk Management (“ERM”) for Insurers
Enterprise risk management (ERM) requirements and guidelines for licensed insurers.
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GuidelinesLast Revised Date: 09 November 2021
Guidelines on Corporate Governance
Guidelines on corporate governance for financial institutions incorporated in Singapore.
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NoticesLast Revised Date: 28 June 2021
Notice 307 Investment-Linked Policies
Requirements and standards in relation to disclosure, investment guidelines, borrowing limits and operational practices for investment-linked policies.
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GuidelinesLast Revised Date: 28 June 2021
Guidelines on Risk Management Practices – Board and Senior Management
Guidelines on the role that a financial institution's Board of Directors and senior management play in risk management.
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GuidelinesPublished Date: 18 January 2021
Guidelines on Risk Management Practices – Technology Risk
Risk management principles and best practice standards to guide financial institutions in managing technology risk.
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GuidelinesPublished Date: 10 September 2020
Guidelines on Individual Accountability and Conduct
Guidance on the five high level outcomes that financial institutions should achieve to promote the accountability of senior managers, strengthen oversight over material risk personnel, and reinforce conduct standards among all employees.
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NoticesLast Revised Date: 05 March 2020
Notice 114 Reinsurance Management
Requirements and guiding principles for insurers on the management of outward reinsurance arrangements.
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GuidelinesLast Revised Date: 05 October 2018
Guidelines on Outsourcing [Cancelled]
Guidelines for financial institutions on risk management of outsourcing arrangements.
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GuidelinesPublished Date: 01 March 2013
Guidelines on Risk Management Practices – Credit Risk
Guidelines for financial institutions on managing their credit risk.
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GuidelinesPublished Date: 01 March 2013
Guidelines on Risk Management Practices – Objectives and Scope
Articulates the objectives and scope of MAS’ Guidelines on Risk Management Practices.
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GuidelinesPublished Date: 01 March 2013
Guidelines on Risk Management Practices – Market Risk
Guidelines for financial institutions on managing their market risk.
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GuidelinesPublished Date: 01 March 2013
Guidelines on Risk Management Practices – Liquidity Risk
Guidelines for financial institutions on managing their liquidity risk.