The review comes as public sector insurers face regulatory pressures to improve solvency ratios and adapt to upcoming reforms under the Insurance Amendment Bill.
Gan Kim Yong, Singapore’s Deputy Prime Minister and Chair of MAS, unveiled plans to incentivise insurers' green infrastructure investments while expanding ILS market.
With six of the ten largest life insurers globally, Asia offers reinsurers the chance to strike new asset intensive reinsurance deals before the pipeline in mature markets starts to dry-up.
John Lee also used his annual policy address to announce plans to conduct a sector wide insurance review that would look at capital requirements for infrastructure investments.
The combined impact of HK RBC and IFRS 17 has led to an improvement in: product mix, economic valuation, and corporate governance by insurers, says Chow Tai Fook CFO.
