Having made its insurance-linked securities (ILS) grant scheme more restrictive back in 2023, to only offer the grant to catastrophe bonds or ILS covering regional risks from Asia Pacific, Singapore is reversing that move and expanding the ILS grant offering once again to cover cat bond risks from other locations around the globe, it appears.
In addition, we understand that Singapore’s ILS grant scheme will be extended again, as its current iteration had been due to expire at the end of 2025.
Around late 2017, Singapore drew up plans for an ILS Grant Scheme, to help fund some of the upfront costs incurred in issuing catastrophe bonds in the country under its nascent regulatory regime for insurance-linked securities (ILS).
The grant was a way to attract issuers and broker teams to stimulate activity in Singapore’s ILS market.
FULL ORIGINAL PUBLICATION HERE