Regulatory framework for Structured Investment - Linked Insurance Business
The Insurance Act has been amended on the 2nd of August 2022 to introduce a new class of policy, namely Structured Investment-Linked Insurance Business (SILIB) under the long-term insurance business segment.
Following consultation with the industry, the Financial Services Commission (FSC) has issued, under the Insurance Act, the Insurance (Structured Investment Linked Insurance Business) Rules 2022 effective as from 3 September 2022 for this new class of long-term insurance business.
The introduction of the SILIB is to further enhance the development and competitiveness of the financial services sector.
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