16. Registration of insurance brokers
Feedback & supportA person who desires to carry on business as an insurance broker shall apply in writing to the Authority for registration under this section and shall furnish such information as the Authority may require.
insurance broker
“insurance broker” means a person who is or has been carrying on insurance business in Singapore as an agent for insureds or intending insureds;
Upon receiving an application under subsection (1), the Authority shall consider the application and may, subject to section 17, register the applicant with or without conditions or refuse to register the applicant.
The Authority may register the applicant as a direct general insurance broker, general reinsurance broker, direct life insurance broker, life reinsurance broker or a combination of any of these.
direct general insurance broker
“direct general insurance broker” means a person who is for the time being registered under Part III in respect of general business but not any reinsurance business;
The Authority shall cause notice of any registration or change of name of a registered insurance broker to be published in the Gazette.
registered insurance broker
“registered insurance broker” means a person who is for the time being registered under Part III;