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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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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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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NoticesLast Revised Date: 19 March 2021
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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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: 08 December 2020
Guidelines on Environmental Risk Management for Insurers
Guidelines to enhance insurers’ resilience to and management of environmental 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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GuidelinesPublished Date: 13 May 2019
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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GuidelinesLast Revised Date: 05 October 2018
Guidelines on Outsourcing
Guidelines for financial institutions on risk management of outsourcing arrangements.
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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.
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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 – 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 – Objectives and Scope
Articulates the objectives and scope of MAS’ Guidelines on Risk Management Practices.