In due course an update of the second Risk Based Capital framework (RBC2) will be introduced by the Monetary Authority of Singapore due to evolving global regulatory landscapes.
The new capital regime is expected to enhance risk assessments and more accurately reflect insurance companies’ businesses and their risk profiles.
European insurers and reinsurers with a presence in Singapore have provided feedback specifically relating to the treatment of infrastructure investments, securitised assets, and the calibration of the general insurance catastrophe risk requirement. In this paper, the EuroCham Financial Services Committee expressed its views on these topics based on the 2017 Impact Study and will continue to engage in dialogue with MAS about the latest developments on RBC2.
This position paper was made possible with the kind support of Accenture Consulting.
Access the paper via the link HERE.