Absolutely. Singapore Life has significantly more capital than is required for a life insurance company. In fact, we have started out with more capital than a number of more established companies have in Singapore. Not only that, but our shareholders have more than $6 billion in market capital and will support our business as we grow.
In addition, we have support from the world’s largest reinsurers including Munich Re with whom we share some of the risks that we take on, which ensures that we can pay claims whenever they fall due.
Singapore Life has met all Monetary Authority of Singapore (MAS) requirements, including capital requirements, in order to operate. Our Capital Adequacy Ratio (CAR) as at end September 2017 is in excess of 1000%.
Furthermore, all our existing and new policies are also protected by the Policy Owner’s Protection Scheme, which provides 100% protection of the guaranteed benefits up to the applicable caps.