Singapore legislation
Regulation 5
of Insurance (General Provisions and Exemptions for Captive Insurers) Regulations 2018
Regulation 5
Capital adequacy requirement
For the purposes of section 18(1)(b) of the Act, the capital adequacy requirement that a captive insurer must satisfy is that the shareholders’ equity and surplus, less the contingent liabilities of the captive insurer, must not at any time be less than the sum of —
(a)
$400,000; and (b)the GSIF amount.