On 25 October 2022, the Monetary Authority of Singapore (“MAS“) issued a consultation paper containing its proposals for a Domestic Systemically Important Insurers (“D-SIIs“) framework with the primary aim to assess the systemic importance of insurers and identify a D-SII, and apply relevant policy measures to a D-SII to address the specific negative externalities that a D-SII can potentially pose as a result of its distress or failure.
The consultation ends on 30 November 2022, and MAS proposes to implement the D-SII framework on 1 January 2024.
This Update outlines key features of the proposed D-SII framework.
For more information, click here to read the full Legal Update.
