This notice applies to all authorised reinsurers. It sets out the requirements on a bank covenant that authorised reinsuers may lodged with MAS in lieu of the deposit required under section 46(1) of the Insurance Act 1966.
Informs authorised reinsurers that MAS will be adopting eGuarantee@Gov in relation to the bank covenants, and MAS Notice 135 (Bank Covenants in lieu of Deposits) has been issued to replace MAS Notice IA/PP-N02.1a (Bank Covenants in lieu of Deposits).
Sets out requirements applicable to authorised reinsurers such as the lodgement of reinsurance deposit, disclosure requirements and submission of annual returns.