IMF Staff Country Reports

Singapore: Detailed Assessment of Observance-Insurance Core Principles

December 5, 2013

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Singapore: Detailed Assessment of Observance-Insurance Core Principles, (USA: International Monetary Fund, 2013) accessed December 26, 2024

Summary

This paper discusses findings of the Detailed Assessment of Observance on Insurance Core Principles on Singapore. The insurance industry in Singapore is growing, in particular the offshore nonlife sector. Gross premium of the sector has grown significantly by more than 80 percent in the last five years. The Monetary Authority of Singapore has made significant progress in improving the insurance regulatory regime and supervisory practice since the initial Financial Sector Assessment Program in 2004.The updated regulatory framework and supervisory practices have a significantly high level of observance of the Insurance Core Principles.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Corporate governance, Crime, Economic sectors, Financial institutions, Financial sector policy and analysis, Insurance, Insurance companies, Stress testing

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Asia and Pacific, Chief executive, Corporate governance, CR, Financial market, Global, Insurance, Insurance companies, ISCR, Line of business, MAS director, MAS guideline, MAS officer, MAS power, MAS staff, MAS supervisor, MAS website, Parent company, Risk assessment, Risk management, Stress testing

Publication Details

  • Pages:

    90

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2013/343

  • Stock No:

    1SGPEA2013006

  • ISBN:

    9781475563979

  • ISSN:

    1934-7685