Financial Services – Singapore Monetary Authority

A licensed insurer, a reinsurer with a license, a Marine, Aviation, and Transit (MAT) insurer, or a foreign insurer can carry on insurance business in Singapore. A registered insurance broker or an approved insurance broker can conduct insurance broking activities in Singapore. Find out how these institutions are regulated, updated, and licensed.

 

 

 

Types of Entities and Licences

According to the Insurance Act, insurance brokers and insurers must be licensed and regulated. Read about the licensing requirements for each type of insurance entity.

Visit the Financial Institutions Directory for a list of Singapore’s insurers and brokers.

 

 

 

Regulations and Guidance

The MAS Act grants the agency the power to regulate and supervise financial institutions through the issuance of legal instruments.

 

 

 

View all regulations

Browse by Entity Types

  • Insurance
  • Insurance Broker
  • Financial Adviser
  • Direct Insurer (Composite)
  • Direct Insurer (Life)
  • Direct Insurer (General)
  • Reinsurer (Composite)
  • Reinsurer (Life)
  • Reinsurer (General)
  • Captive Insurer
  • Lloyd’s Asia Scheme
  • Financial Holding Company (Insurance)
  • Approved MAT Insurer
  • Authorized Reinsurer
  • Representative Office (Insurance)
  • General Insurance Agents

Development Initiatives

Schemes and Initiatives

Financial institutions considering establishing or expanding operations in Singapore will find tax incentives and grant schemes available from MAS.

 

 

 

Roadmap for a Leading Global Financial Centre in Asia

MAS’ roadmap for financial services, including skills upgrades, innovation, and technology advancement, is available here.

 

 

 

FinTech Regulatory Sandbox

By testing new innovations in a controlled environment, the FinTech Regulatory Sandbox helps financial institutions and FinTech players.

 

 

Hiring

You can defray a portion of the hiring and training costs for Singaporean citizen employees using the Financial Associate Management Scheme (FAMS).

 

 

 

International Postings

Sending Singapore citizen employees overseas can be made more affordable with the International Postings Programme (iPOST).

 

 

 

Leadership Development

As Asian financial institutions grow in complexity, the Asian Financial Leaders Scheme (AFLS) is designed to help develop senior-level talent that is ready to take on leadership roles.

 

 

 

Specialized Training

The Finance Scholarship Programme (FSP) is an award-winning postgraduate scholarship for financial institutions to help them develop specialist leaders for the finance sector in Singapore.

 

 

 

Lifelong Learning

Through SkillsFuture Study Awards, MAS provides a wide range of educational programs to help Singaporean finance professionals deepen their skills.

 

 

 

Skills & Career Development

Discover how professionals in the financial sector can enhance their capabilities through training programs.

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