Our Head of Insurance Hui Choon Yuen, Head of Tax Tan Shao Tong, together with Senior Associates Chua Jianjie Alvin and Wesley Aw, contributed to a guide published by Thomson Reuters Practical Law titled “Insurance and Reinsurance in Singapore: Overview”.
In the guide, our lawyers provide a comprehensive overview of Singapore’s regulatory framework for insurance and reinsurance. This includes the requirements for authorisation and licensing, restrictions on ownership and control, ongoing compliance obligations and potential penalties for breaches. It also explores rules on sales and marketing, the transfer of risk, reinsurance arrangements, contractual considerations, claims processes, dispute resolution mechanisms, insolvency procedures, and tax implications.
Additionally, they share insights that help businesses understand how Singapore’s regulatory landscape compares with other jurisdictions, enabling them to prepare more effectively to operate in the market.
Click below to read the full article.