--- id: sgkb.data.insurance-regulation-anchors kind: dataset title: "Insurance Regulation and Protection Anchors" url: https://ik.sg/en/knowledge/dataset/sgkb.data.insurance-regulation-anchors language: en evidence_status: verified last_verified: 2026-10-14 collection_as_of: 2026-10-16 --- # Insurance Regulation and Protection Anchors Dated MAS Notice 133 solvency calibration anchors, SDIC deposit-insurance and PPF framing, and MAS FID insurance-licence category labels — with population and denominator boundaries per row. # Insurance Regulation and Protection Anchors Use each row with its stated denominator. **Solvency ratios** apply to licensed insurers' statutory returns; **SDIC limits** apply only when a **member** bank or insurer **fails**; **FID licence labels** describe permissions, not a count of distinct corporate groups. Narrative context lives in [insurance and mas supervision](/en/knowledge/article/sgkb.economy-finance.insurance-and-mas-supervision). ## Population bases | Term | Meaning in this dataset | Do not confuse with | |---|---|---| | Licensed insurer (MAS) | Direct insurer, reinsurer or captive holding an Insurance Act licence | MOH national health schemes or CPF insurance | | PCR / MCR (Notice 133) | Prescribed and minimum capital requirements at supervisory intervention levels | Individual policy claim limits | | DI Scheme member | Bank or finance company in SDIC deposit insurance | Life insurer PPF membership | | PPF Scheme member | Life or general insurer in SDIC policy-owner protection | MediShield Life or CareShield Life | | FID licence category | Permission type in the MAS directory filter list | One category per unique company | Source: [MAS Notice 133](https://www.mas.gov.sg/regulation/notices/notice-133); [SDIC](https://www.sdic.org.sg/), accessed 14 October 2026. ## MAS Notice 133 — solvency intervention levels (December 2025 notice text) | Metric | Value | Population / denominator | As of | |---|---:|---|---| | Higher intervention PCR calibration | 99.5% one-year VaR | Total risk requirement at higher supervisory solvency intervention level | Notice 133 text, 8 Dec 2025 | | Lower intervention MCR calibration | 90.0% one-year VaR | Total risk requirement at lower supervisory solvency intervention level | Notice 133 text, 8 Dec 2025 | | MCR as share of PCR | 50% | MCR set as half of PCR at lower intervention level | Notice 133 text, 8 Dec 2025 | | MAS 133 (Amendment) 2025 effective | 1 January 2026 | All licensed insurers subject to Notice 133 page listing | MAS Notice 133 page, accessed Oct 2026 | | MAS 133 (Amendment) 2026 effective | 31 March 2026 | Further amendment per MAS publication calendar | MAS Notice 133 page, accessed Oct 2026 | Source: [MAS Notice 133 PDF, 8 December 2025](https://www.mas.gov.sg/-/media/mas-media-library/regulation/notices/id/notice-133/mas-notice-133_8-dec-2025.pdf); [MAS Notice 133 page](https://www.mas.gov.sg/regulation/notices/notice-133), accessed 14 October 2026. VaR calibration is **regulatory solvency**, not a retail return guarantee. ## SDIC failure-protection anchors (scheme membership required) | Metric | Value | Population / denominator | As of | |---|---:|---|---| | Deposit insurance cap | S$100,000 | Insured deposits aggregated per depositor per **DI Scheme member** bank or finance company | SDIC website, accessed Oct 2026 | | CPFIS / CPFRS deposit cap | S$100,000 (separate aggregation) | Eligible placements with a **member** bank under stated CPF schemes | SDIC website, accessed Oct 2026 | | PPF life coverage basis | Guaranteed benefits, subject to caps | **Member** life insurer failure; accident & health policies and riders excepted from cap rule per SDIC | SDIC website, accessed Oct 2026 | | PPF general coverage basis | Not capped except statutory limits | **Member** general insurer failure; motor/property sub-limits per SDIC | SDIC website, accessed Oct 2026 | Source: [SDIC](https://www.sdic.org.sg/), accessed 14 October 2026. Schemes pay **only on failure** of a member institution, not for ordinary claims against a solvent insurer. ## MAS FID insurance-sector licence categories (labels, not counts) The MAS Financial Institutions Directory **Insurance** sector exposes filter categories including **Direct Insurer (Life)**, **Direct Insurer (General)**, **Direct Insurer (Composite)**, **Reinsurer (Life/General/Composite)**, **Captive Insurer (Life/General/Composite)**, **Approved Insurance Broker**, **Registered Insurance Broker**, **Authorised Reinsurer**, **Financial Holding Company (Insurance)** and **Representative Office (Insurance)** ([MAS FID insurance sector](https://eservices.mas.gov.sg/fid/institution?count=0§or=Insurance), accessed 14 October 2026). The directory is the authoritative label set for permissions; **do not treat category names as a live institution headcount** without reading the directory's current filtered total. ## Record details - **Tags:** statistics; finance-sector; regulation; policy - **What each row represents:** one dated Notice 133 solvency anchor, SDIC scheme limit, or MAS FID insurance-licence label with denominator - **All domains:** data - **Facets:** business; institution; law; policy; statistics - **Status:** verified - **All topics:** [Insurance regulation and supervision](https://ik.sg/en/knowledge/topic/sgtopic.economy.insurance-regulation) - **Also known as:** Notice 133 PCR; SDIC PPF; insurance licence types Singapore - **Explore connections:** insurance-and-mas-supervision; banking-and-financial-hub; mas-and-monetary-policy - **Entities:** [Monetary Authority of Singapore](https://ik.sg/en/knowledge/entity/sg.agency.mas); [Singapore Deposit Insurance Corporation](https://ik.sg/en/knowledge/entity/sg.organisation.sdic) - **Language:** en - **Volatility:** slow - **Jurisdiction:** SG - **Last verified:** 2026-10-14 - **Temporal scope:** current - **Update cadence:** after MAS Notice 133 amendments or SDIC scheme limit changes - **Source format:** markdown - **Geographic scope:** national - **Classification source:** curated - **Classification confidence:** high ## Sources - [MAS — Notice 133 Valuation and Capital Framework for Insurers](https://www.mas.gov.sg/regulation/notices/notice-133) — Accessed 2026-10-14 - [MAS — Notice 133 (8 December 2025)](https://www.mas.gov.sg/-/media/mas-media-library/regulation/notices/id/notice-133/mas-notice-133_8-dec-2025.pdf) — Accessed 2026-10-14 - [SDIC — Deposit Insurance and Policy Owners' Protection schemes](https://www.sdic.org.sg/) — Accessed 2026-10-14 - [MAS — Financial Institutions Directory: Insurance sector](https://eservices.mas.gov.sg/fid/institution?count=0§or=Insurance) — Accessed 2026-10-14 ## Explore connections - Articles: [Banking and the Financial Hub](https://ik.sg/en/knowledge/article/sgkb.economy-finance.banking-and-financial-hub) - Articles: [Insurance and MAS Supervision](https://ik.sg/en/knowledge/article/sgkb.economy-finance.insurance-and-mas-supervision) - Articles: [MAS and Monetary Policy](https://ik.sg/en/knowledge/article/sgkb.economy-finance.mas-and-monetary-policy) - Topics: [Insurance regulation and supervision](https://ik.sg/en/knowledge/topic/sgtopic.economy.insurance-regulation) - People & organisations: [Monetary Authority of Singapore](https://ik.sg/en/knowledge/entity/sg.agency.mas) - People & organisations: [Singapore Deposit Insurance Corporation](https://ik.sg/en/knowledge/entity/sg.organisation.sdic) - Dated values: [MAS Notice 133 minimum capital requirement as share of prescribed capital requirement](https://ik.sg/en/knowledge/observation/sgobs.economy.insurance.mas-notice-133.mcr-share-of-pcr.2026) - Dated values: [MAS Notice 133 minimum capital requirement calibration](https://ik.sg/en/knowledge/observation/sgobs.economy.insurance.mas-notice-133.mcr-var.2026) - Dated values: [MAS Notice 133 prescribed capital requirement calibration](https://ik.sg/en/knowledge/observation/sgobs.economy.insurance.mas-notice-133.pcr-var.2026) - Dated values: [SDIC Deposit Insurance scheme insured deposit cap](https://ik.sg/en/knowledge/observation/sgobs.economy.insurance.sdic-di-insured-deposit-cap.2026) Dates describe this record’s own period and applicability. A verification date does not mean a rule is currently in force. An expanding collection. Published counts show available knowledge, not complete coverage of Singapore.