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The Monetary Authority of Singapore (MAS) has extended its insurance-linked securities (ILS) grant scheme to the end of 2022, as Singapore looks to build on recent positive momentum and attract more catastrophe bond issuers to its shores.

Speaking today at our Artemis ILS Asia virtual conference, Mr. Benny Chey, Assistant Manager Director (Development and International) at the Monetary Authority of Singapore (MAS), announced the extension of the ILS grant scheme until December 31st, 2022, alongside the region’s desire to expand the range of ILS products available beyond cat bonds.

Launched in February 2018 to encourage ILS issuances in Singapore and to develop the region as Asia’s leading hub for ILS business, the ILS grant scheme funds 100% of certain upfront issuance costs of catastrophe bonds in Singapore.

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