This notice applies to all authorised reinsurers.

It sets out the criteria to be met by a related corporation that intends to enjoy the exemption granted under regulation 12(b) of the the Insurance (Authorised Reinsurers) Regulations.

Regulation 12(b) of the Regulations provides that section 56A of the Insurance Act (Cap.142) shall not apply where a reinsurance arrangement is entered into between a licensed insurer (other than a captive insurer) and its related corporation which is incorporated outside Singapore, is not a licensed insurer and satisfies the criteria as specified in this notice.