Published : Dec-2019
No. of Pages : 80
1. INTRODUCTION
1.1. What is this Report About?
1.2. Definitions
2. GOVERNANCE, RISK AND COMPLIANCE
2.1. Legislation Overview and Historical Evolution
2.2. Latest Changes in Regulation
2.3. Legislation and Market Practice by Type of Insurance
2.3.1. Life Insurance
2.3.2. Property insurance
2.3.3. Motor insurance
2.3.4. Liability insurance
2.3.5. Marine, aviation and transit insurance
2.3.6. Personal accident and health insurance
2.4. Compulsory Insurance
2.4.1. Motor vehicle third-party liability insurance
2.4.2. Workers' compensation insurance
2.4.3. Aviation carriers' liability insurance
2.4.4. Professional indemnity insurance
2.4.5. Insurance against oil pollution from ships
2.4.6. Third-party liability cover for certain pleasure craft and vessels operating in Singapore
2.4.7. Liability insurance for clinical trials
2.4.8. National health insurance plan
2.4.9. Health insurance for foreign workers
2.5. Supervision and Control
2.5.1. International Association of Insurance Supervisors (IAIS)
2.5.2. Monetary Authority of Singapore
2.5.3. General Insurance Association of Singapore (GIA)
2.5.4. Life Insurance Association of Singapore (LIA)
2.6. Non-Admitted Insurance Regulations
2.6.1. Overview
2.6.2. Intermediaries
2.6.3. Market practices
2.6.4. Fines and Penalties
2.7. Company Registration and Operations
2.7.1. Type of insurance organization
2.7.2. Establishing a local company
2.7.3. Foreign ownership
2.7.4. Types of license
2.7.5. Capital requirements 61
2.7.6. Solvency margin
2.7.7. Reserve requirements
2.7.8. Investment regulations
2.7.9. Statutory return requirements
2.7.10. Fee structure
2.8. Taxation
2.8.1. Insurance premium or policy taxation
2.8.2. Withholding taxes on premium paid overseas
2.8.3. Corporate tax
2.8.4. VAT
2.8.5. Captives
2.9. Legal System
2.9.1. Introduction
2.9.2. Access to court
2.9.3. Alternative dispute resolution (ADR)
3 APPENDIX
3.1 Methodology
3.2 Contact GlobalData
3.3 About GlobalData
3.4 GlobalData's Services
3.5 Disclaimer
List of Tables
Table 1: Insurance Industry Definitions
Table 2: Singapore - Insurance Regulatory Framework Key Features
Table 3: Singapore - Life Insurance Regulatory Framework
Table 4: Singapore - Property Insurance Regulatory Framework
Table 5: Singapore - Motor Insurance Regulatory Framework
Table 6: Singapore - No-Claims Discounts on Motor Insurance Policies
Table 7: Singapore - Liability Insurance Regulatory Framework
Table 8: Singapore - Minimum PII cover for Retail LFMC
Table 9: Singapore - Levy Rates Applicable to PPF Scheme Member
Table 10: Singapore - Investment Concentration Limits
Table 11: Singapore - Corporate Tax Rates for the Financial Year 2019
List of Figures
Figure 1: Singapore - Insurance Supervision and Control at Various Levels
Figure 2: Singapore - Insurance Regulatory Frameworks for Company Registration and Operation
