The new regime introduces granular loading factors, stricter reliance on external ratings and a 100% default charge for complex instruments, aligning insurers’ capital requirements more closely with product risk.
The Monetary Authority of Singapore (MAS) has issued its response to industry feedback on proposals to revise the capital treatment of structured products and infrastructure investments for insurers. The changes will be incorporated into MAS Notice 133 on Valuation and Capital Framework for Insurers and are expected to take effect on 31 March 2026. The regulator received 34 submissions and has confirmed that it will proceed with the core proposals for structured products MAS’ consultat