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MAS: Proposed changes won't hamper well-managed insurers

Plans to amend risk-based capital framework are part of regulator's move to make insurance sector more resilient

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"As an industry, we are also very objective in making sure that we are not asking for things that are not reasonable . . . We are also hoping that the framework is good because it is important for the industry to be well-capitalised." - Khoo Kah Siang, LIA's president

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"The risk requirements under (the proposed changes) are designed to be more risk-sensitive, comprehensive and calibrated to a higher target confidence level." - MAS's Ong Chong Tee

Singapore

THE proposed changes to the risk-based capital framework will be more risk-sensitive, robust and fit-for-purpose, but should not hamper well-managed insurance businesses unduly.

The changes, also known as RBC 2, seek to reflect the relevant risks insurers face and are

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