Industry players here who sell their risks to reinsurers have been asked to submit the terms and conditions of their contracts to the Monetary Authority of Singapore (MAS).
MAS on Aug 26 told 300 participants of the Singapore Actuarial Senior Business Correspondent Society conference that it is monInsurers in Singapore will be more closely watched by the financial regulator, especially when it comes to reinsurance, or insurance for insurers.
Participants told The Straits Times that the regulator had made it clear that insurers who have such deals could be audited.
Typically, insurers buy reinsurance to recover some or all amounts paid out to claimants. In doing so, insurers ensure they are solvent.
Esta historia es de la edición August 29, 2024 de The Straits Times.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición August 29, 2024 de The Straits Times.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Mbappe could be stripped of captaincy
PARIS France captain Kylian Mbappe is facing criticism in his home country for skipping Les Bleus' Nations League games against Israel and Belgium while being available to play for his club Real Madrid.
STEWING OVER 'WORST' DEFEAT
Spurs boss slams unacceptable second half’ at Brighton, conceding thrice in 18 minutes
CHRISTIAN IS ROOKIE CHAMP
S’pore driver heads to Eurocup-3’s final round with chance of being overall winner
TENNIS STARS PICK 'SECOND FAMILY'
New coaching partnerships help top players refresh, improve their games
Scepticism over Chinese stocks remains despite world-beating rally
Global fund managers waiting for Beijing to back up stimulus pledges with real money
US scientists win Nobel Prize in medicine for work on microRNA
Duo lauded for discovering new principle of gene regulation for multicellular organisms
Hurricane Milton strengthening as it heads towards Florida
FLORIDA Hurricane Milton is intensifying on its path towards Florida possibly reaching Category 4 power and may spark the largest evacuation in seven years as it aims for the state's Gulf Coast and Tampa.
Trump on the stump, Harris hits airwaves with race on razor's edge
US presidential candidates scramble for votes in 7 swing states vital to poll victory
China military drills expected soon after Taiwan national day
China is likely to launch military drills this week near Taiwan, using Taiwan President Lai Ching-te's upcoming national day speech as a pretext to pressure the island to accept its sovereignty claims, Taiwanese officials say.
Gaza war deadliest conflict for journalists: Observers
Israel refutes claim by advocacy group that it directly targeted 32 media workers