MAS emphasized earlier insurer involvement in project planning and construction, where risk engineers can influence design, resilience and maintenance before assets are commissioned. It also highlighted the need to supplement traditional insurance and reinsurance with capital markets capacity, noting that Asia represented about 30% of global economic losses from natural catastrophes in 2025 but only about 8% of those losses were insured. The authority reiterated its development of a Protected Cell Company framework for insurance-linked securities, captive insurance and sovereign risk pools. The proposed structure would legally segregate assets and liabilities among cells within one company, reducing the cost and complexity of establishing multiple special purpose vehicles. More than 30 insurance-linked securities have already been issued and listed in Singapore, supported by an MAS grant scheme that helps defray issuance costs.
2026-09-21Monetary Authority of Singapore
Monetary Authority of Singapore urges engineering insurers to expand Asia’s infrastructure risk capacity
The Monetary Authority of Singapore called on engineering insurers to help Asia understand, reduce and finance the risks arising from large and complex infrastructure projects. It emphasized early insurer involvement in project design and reiterated plans for a Protected Cell Company framework to support insurance-linked securities, captive insurance and sovereign risk pools. More than 30 insurance-linked securities have been issued and listed in Singapore to date.