| Insurance Act |
| Insurance (Financial Guarantee Insurance) Regulations |
| Rg 6 |
| G.N. No. S 40/1997 |
| REVISED EDITION 1998 |
| (15th June 1998) |
| [6th February 1997] |
| Citation |
| 1. These Regulations may be cited as the Insurance (Financial Guarantee Insurance) Regulations. |
| Definitions |
2. In these Regulations, unless the context otherwise requires —
|
| Licensing by Authority |
| Minimum capital and rating requirements |
4. The Authority shall not license a person to carry on the business of a financial guarantee insurer in Singapore unless the insurer has —
|
| Single and aggregate risk limits |
5.—(1) A financial guarantee insurer shall limit its net exposure under any single financial guarantee insurance policy issued by the insurer in Singapore as follows:
|
| Contingency reserves |
6.—(1) In addition to maintaining claim liabilities and premium liabilities as required under regulation 19 of the Insurance (Valuation and Capital) Regulations 2004 (G.N. No. S 498/2004) and MAS Notice 133, a financial guarantee insurer shall —
[S 134/2020 wef 31/03/2020]
|
| Currency adjustment |
7. Where a financial guarantee insurance policy is issued in non-Singapore dollars —
|
| 8. [Deleted by S 229/2013 wef 18/04/2013] |
| Requirements and returns as to fund solvency and capital adequacy |
8A.—(1) A financial guarantee insurer who carries on the business of issuing only financial guarantee insurance policies shall be exempt from —
|
| 9. [Deleted by S 838/2018 wef 01/01/2019] |
| 10. [Deleted by S 838/2018 wef 01/01/2019] |
| 11. [Deleted by S 838/2018 wef 01/01/2019] |