Subsidiary Legislation
Insurance (Valuation and Capital) Regulations 2004
Sets out the requirements under the risk-based capital framework for all licensed insurers, including the way in which assets and liabilities are to be valued.
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Insurance (Valuation and Capital) Regulations 2004
Amendment Notes
- 28 Feb 2020
- Insurance (Valuation and Capital) (Amendment) Regulations 2020 (185.4 KB) takes effect on 31 Mar 2020.
- 19 Dec 2018
- Insurance (Valuation and Capital) (Amendment) Regulations 2018 takes effect on 31 Dec 2018.
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NoticesLast Revised Date: 30 November 2023
Notice 122 Asset & Liability Exposures for Insurers
Requirements for insurers on submitting returns to MAS, including reporting forms, glossary and submission timeframe.
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Requirements and principles that govern insurers' investment activities.
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Notice 130 on Insurance Returns (Accounts and Statements) for Captive Insurers
Requirements for captive insurers on the returns to be lodged with MAS.
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ID 40/20 Guidelines on the Preparation of the Actuarial Investigation Report and Updates to Notice 133
Informs licensed insurers on new guidelines on the preparation of the actuarial investigation report and changes to Notice 133
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GuidelinesPublished Date: 23 December 2020
Guidelines on the Preparation of Actuarial Investigation Report (ID 01/20)
To provide guidance on the information that should be disclosed when an actuary prepares a report referred to in section 37(1)(b) of the Act (an “actuarial investigation report”).
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Sets out the classification of tax liabilities arising from non-guaranteed benefits of participating policies.
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CircularsPublished Date: 09 March 2020
ID11/20 Consequential Amendments Arising from Amendments to Insurance (Valuation and Capital) Regulations 2004
Informs all licensed insurers on consequential amendments arising from amendments to Insurance (Valuation and Capital) Regulations 2004
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Guidelines for insurers seeking exemption to use internal models to determine the regulatory liability and capital requirements for life insurance products with investment guarantees which have non-linear payouts.
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Notice DIPOP-N02 on Policy Owners' Protection Scheme Returns
Requirements on the submission of Policy Owners' Protection (PPF) Scheme returns by PPF Scheme members.
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NoticesLast Revised Date: 05 March 2020
Notice 319 Valuation of Policy Liabilities of Life Business [Cancelled with effect from 31 Mar 2020]
Requirements and guidelines on the valuation and reporting of policy liabilities.
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CircularsPublished Date: 28 February 2020
ID 07/20 Issuance of Insurance (Valuation And Capital) (Amendment) Regulations 2020 and New MAS Notice 133 on Valuation and Capital Framework for Insurers
Informs all licensed insurers of the issuance of the Insurance (Valuation and Capital) (Amendment) Regulations 2020 and new MAS Notice 133 on Valuation and Capital Framework for Insurers
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Insurance (General Provisions and Exemptions for Special Purpose Reinsurance Vehicles) Regulations 2018
Sets out requirements for reinsurers established as special purpose reinsurance vehicles for purposes of insurance securitisation.
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Sets out requirements for carrying on financial guarantee insurance business as a direct insurer licensed under the Insurance Act (Cap. 142).
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CircularsPublished Date: 19 December 2018
ID 14/18 Review of Insurance Returns and Amendments to Insurance (Valuation and Capital) Regulations 2004
Informs all licensed insurers of the review of insurance returns and the regulations that have been issued or amended to move the existing reporting requirements from subsidiary legislations to notices.
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Notice 121 Captive Insurance - Writing of In-House and Non In-House Risks
Requirements and guidelines for captive insurers on the writing in-house and non in-house risks.
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Subsidiary LegislationPublished Date: 18 April 2013
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Sets out requirements for captive insurers licensed under the Insurance Act (Cap.142).
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Sets out the classification of tax liabilities arising from non-guaranteed benefits of participating policies.
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Guidelines for valuation of general insurance policy liabilities, and for preparing an actuarial investigation report for general insurance business.