ID11/22 Amendments to Notices 124, 125 and 126
Informs insurers of the amendments to MAS Notice 124, 125 and 126, and MAS' response to feedback received on the public consultation on proposed revision to MAS Notice 124, 125 and 126.
Enterprise risk management (ERM) requirements and guidelines for licensed insurers.
This notice applies to all licensed insurers, except captive insurers and marine mutual insurers.
It sets out the ERM requirements and guidelines for insurers to identify and manage interdependencies between key risks, and how these are translated into management actions related to strategic and capital planning matters.
Informs insurers of the amendments to MAS Notice 124, 125 and 126, and MAS' response to feedback received on the public consultation on proposed revision to MAS Notice 124, 125 and 126.
Public disclosure requirements for licensed insurers.
Requirements and guidelines on enterprise risk management for designated financial holding companies that has a subsidiary that is a licensed insurer incorporated, formed or established in Singapore (“DFHC (Licensed Insurer”)).
Guidelines on the role that a financial institution's Board of Directors and senior management play in risk management.
To respond to the feedback received on the consultation paper on MAS' proposed revisions to the MAS Notices 124,125 and 126.
Risk management principles and best practice standards to guide financial institutions in managing technology risk.
Guidelines for financial institutions on risk management of outsourcing arrangements.
Information paper outlining MAS' key observations from a review of the industry’s Own Risk and Solvency Assessment (ORSA) reports, with the aim of guiding insurers towards improving their respective ORSAs.
Guidance to financial institutions on sound practices for their internal control environment and business process controls.
Guidelines for financial institutions on managing their liquidity risk.
Guidelines for financial institutions on managing their credit risk.
Articulates the objectives and scope of MAS’ Guidelines on Risk Management Practices.
Guidelines for financial institutions on managing their market risk.
This consultation paper sets out MAS proposals to introduce ERM requirements and guidelines for all licensed insurers (except captives and marine mutuals), to expand on MAS' expectations on how insurers identify and manage interdependencies between key risks, and how these should be translated into strategic management actions and capital planning.
Requests insurers to provide MAS with a copy of their Internal Audit and/or Compliance work plans and reports.