The central bank will extend its support to cover non-Apac risks and renewable energy products, while continuing to prioritise solutions that address the region’s needs.
[SINGAPORE] The Monetary Authority of Singapore (MAS) has refreshed its insurance-linked security (ILS) grant scheme to offset issuance costs, encourage broader market participation and innovation, and support the growing demand for risk transfer solutions, particularly in Asia.
The central bank will also work with the industry to attract and catalyse demand for ILSs in Singapore, MAS managing director Chia Der Jiun said at the 21st Singapore International Reinsurance Conference (SIRC) organised by the Singapore Reinsurers’ Association (SRA) on Monday (Nov 3).
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