Singapore legislation
Regulation 10
Regulation 10
Debt securities
Amended byS 233/2013 wef 18/04/2013
Subregulation 1
Amended byS 233/2013 wef 18/04/2013
A licensed insurer shall value a debt security as follows:
(a)
where it is listed on any securities exchange, at its market value; or
(b)
where it is not listed on any securities exchange, at its net realisable value.
Subregulation 2
In determining the net realisable value of a debt security that is not listed on a securities exchange, the insurer shall take into account —
(a)
the prevailing interest rate;
(b)
the likelihood of default by the issuer; and
(c)
the cash flows that are expected to arise from the debt security.