Informs insurers of the consequential amendments as well as other amendments to certain Notices arising from the Banking (Amendment) Act 2020.
Notice IA/PP-N03.1 Insurance Deposits
Specifies the insurance deposits that approved MAT insurers shall maintain with the Authority.
This notice applies to all approved marine, aviation and transit (MAT) insurers.
It sets out the form of insurance deposits and bank covenants that approved MAT insurers need to maintain with MAS.