Singapore is well-recognised as the leading specialty insurance and reinsurance hub in Asia. Simon Goh, Head of the Insurance & Reinsurance Practice of Rajah & Tann Singapore, highlights the current trends and developments in the insurance industry in Singapore in an article titled “An Overview of Current Trends and Developments in Insurance in Singapore” published by the IFC Review, a leading guide to global wealth management.
In this article, Simon provides an overview of the legal and regulatory regime pertaining to the insurance industry in Singapore. It also looks at, among other things, initiatives by the Singapore government to transform Singapore’s reinsurance industry from a mainstream traditional reinsurance hub to a sophisticated, full-fledged global capital for Asian risk transfer.
Simon served as the Chairman of the Insurance Law Sub-committee (“Sub-committee”) that was formed by the Singapore Academy of Law (“SAL”) to review and reform the Singapore’s insurance laws. The recommendations of the SAL’s Report on Reforming Insurance Law in Singapore that are expected to introduce significant changes to certain areas of insurance contract law were discussed briefly in the article.
For more information, click here to read the full Authored Publication.
