Direct Insurer: Apply for Licence

Applicants need a licence to carry on life and/or general insurance business in Singapore.

Admission Criteria

MAS assesses applications for direct life and general insurance licences using these criteria:

  • Domestic and international rankings of the applicant by factors such as premiums and assets.
  • Past and present credit ratings by international rating agencies, including Standard and Poor's, A.M Best, Moody's and Fitch.
  • Track record, financial soundness and reputation of the applicant, including the applicant’s compliance with its home regulations. In assessing this criteria, MAS will consult the applicant's home supervisory authority.
  • Experience in product innovation, use of alternative business distribution channels and expertise in specialist and niche fields.
  • Well-developed business strategy and detailed plans that reflect the risk profile of the business.
  • Robust risk management systems and processes that are commensurate with the size and complexity of the business.
  • Fitness and propriety of the licensee, any director or key executive person, all of its substantial shareholders, and all persons having effective control of the licensee.
Note: All licensed direct insurers will be required to subscribe to the Financial Industry Disputes Resolution Centre

Before You Apply

Before submitting a formal application, you are encouraged to contact the Insurance Department of MAS about your plans.

For further enquiry or to make an appointment with the Insurance Department of MAS, send an email to .

How to Apply

To apply, submit the Application to Carry on Insurance Business in Singapore (518.7 KB). Refer to the form for detailed instructions.

Processing time

It will take approximately 6 to 8 weeks after we receive the complete application to process and approve an application. As each application will be evaluated on a case-by-case basis, processing time depends on the circumstances of each application and the completeness of the information submitted.

Ensure that your application is complete, correct and accompanied by the requisite supporting documents.