Singapore legislation
Regulation 3
Regulation 3
Application of Regulations to actuaries of composite insurers
Subregulation 1
A duty or right of the appointed actuary or certifying actuary of a licensed insurer under any provision of these Regulations except regulation 12 shall be —
if the insurer is a composite insurer which is a direct insurer —
the duty or right of its appointed actuary if the duty or right relates to the insurer’s life business; or (ii)the duty or right of its certifying actuary if the duty or right relates to the insurer’s general business; or
if the insurer is a composite insurer which is a reinsurer, the duty of its certifying actuary.
Subregulation 2
A duty of the appointed actuary or certifying actuary of a licensed insurer under regulation 12 shall be —
if the insurer is a composite insurer which is a direct insurer, a duty of both its appointed actuary and certifying actuary; or
if the insurer is a composite insurer which is a reinsurer, a duty of its certifying actuary.