The Monetary Authority of Singapore (MAS) has announced a package of measures, including a S$30 million grant scheme, to help insurers put more long-term capital into infrastructure and securitised assets.
The measures were unveiled on 2 November by Mr Chee Hong Tat, Minister for National Development and Deputy Chairman of MAS, at the Singapore International Reinsurance Conference. MAS said they form part of the work of the Growth Capital Workgroup, which it convened with the Ministry of Energy, Trade and Industry in February 2026.
S$30 million grant now in effect
Under the new Infrastructure Capability Development Grant for Insurers, MAS has set aside S$30 million from its Financial Sector Development Fund. The grant is meant to help insurers cover the costs of setting up dedicated investment teams, upskilling existing staff and hiring professional services as they start or expand infrastructure investment activities.
The scheme took effect on the day of the announcement. MAS said interested insurers can approach it for details.
Lower capital charges proposed
MAS is also consulting on changes to the insurance capital framework that would give differentiated treatment to infrastructure and securitisation investments. Under the proposals, three groups of assets would attract lower capital charges:
- rated infrastructure debt that meets specified credit quality and other qualifying requirements;
- qualifying infrastructure equity and debt with added risk-mitigating features, such as revenues backed by long-term contracts, limited exposure to demand risk, or support from counterparties with strong credit; and
- senior investment-grade securitisation tranches that meet criteria on simplicity, transparency and comparability, or conditions such as portfolio diversification and liquidity safeguards.
The consultation closes on 18 December 2026.
More rating agencies, simpler assessments
In addition, MAS said it will recognise more external credit assessment institutions with expertise in infrastructure and securitisation issuances. Institutions that meet the criteria set out in MAS Notice 133 can write in to apply.
The regulator also plans to make it easier for insurers to assess infrastructure investments through standardised disclosure templates, clearer assessment guidance and declarations from fund managers, while keeping appropriate due diligence in place.
