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This document serves as an application to carry on insurance broking business in Singapore under the relevant provisions of the Insurance Act (Cap 142). It requires detailed information about the

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How to fill out APPLICATION TO CARRY ON INSURANCE BROKING BUSINESS IN SINGAPORE

01

Visit the Monetary Authority of Singapore (MAS) website to access the application form.

02

Gather necessary documentation, including business plans, financial statements, and proof of qualifications.

03

Complete the application form with accurate and complete information.

04

Submit the completed application form along with the required documents to MAS.

05

Pay the applicable fees associated with the application process.

06

Await confirmation and any additional requests for information from MAS.

07

Address any feedback or additional requirements provided by MAS.

08

Receive approval and guidance on setting up operations as an insurance broker.

Who needs APPLICATION TO CARRY ON INSURANCE BROKING BUSINESS IN SINGAPORE?

01

Individuals or entities seeking to operate as an insurance broker in Singapore.

02

New companies intending to start an insurance broking business.

03

Existing companies looking to expand their services to include insurance broking.

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What is APPLICATION TO CARRY ON INSURANCE BROKING BUSINESS IN SINGAPORE?

The APPLICATION TO CARRY ON INSURANCE BROKING BUSINESS IN SINGAPORE is a formal request submitted to the regulatory authority, typically the Monetary Authority of Singapore (MAS), by individuals or companies seeking to operate as insurance brokers in Singapore.

Who is required to file APPLICATION TO CARRY ON INSURANCE BROKING BUSINESS IN SINGAPORE?

Any individual or entity intending to engage in insurance broking activities in Singapore must file the APPLICATION TO CARRY ON INSURANCE BROKING BUSINESS. This includes existing insurance firms entering the broking sector and new entrants.

How to fill out APPLICATION TO CARRY ON INSURANCE BROKING BUSINESS IN SINGAPORE?

To fill out the APPLICATION TO CARRY ON INSURANCE BROKING BUSINESS, applicants must complete the designated application form provided by the MAS, ensuring all required fields are accurately filled, and accompany it with necessary documentation such as business plans, financial projections, and proof of relevant experience.

What is the purpose of APPLICATION TO CARRY ON INSURANCE BROKING BUSINESS IN SINGAPORE?

The purpose of the APPLICATION TO CARRY ON INSURANCE BROKING BUSINESS IN SINGAPORE is to ensure that only qualified individuals and firms operate as insurance brokers, maintaining the integrity and professionalism of the insurance industry while protecting consumers.

What information must be reported on APPLICATION TO CARRY ON INSURANCE BROKING BUSINESS IN SINGAPORE?

The application must report information including the applicant's personal and business details, the structure of the business, financial health, compliance with regulatory requirements, experience and qualifications of key personnel, and any relevant business plans.

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