The Monetary Authority of Singapore (MAS) has signalled that a long-awaited consultation on new laws to establish a Protected Cell Company (PCC) structure that could be used for collateralised reinsurance arrangements and efficient insurance-linked securities (ILS) issuance is coming soon.
Long-term readers of Artemis may recall that Singapore has been asked by the ILS market to establish a structure that will support collateralised reinsurance and private ILS deals for a number of years now, while its executives have signalled this was coming in the past as well.
Way back in 2018 we reported that plans were already underway to implement regulation for the introduction of a protected cell company (PCC) for collateralised reinsurance, seen at the time as a next, natural step following the establishment of the catastrophe bond focused special purpose reinsurance vehicle (SPRV).
FULL ORIGINAL PUBLICATION HERE