Tang See Kit Channel NewsAsia 12 Jun 19;
SINGAPORE: The Monetary Authority of Singapore (MAS) is currently developing the market for insurance-linked securities (ILS) as an alternative risk-financing solution, said Acting Prime Minister Heng Swee Keat on Wednesday (Jun 12).
This can help strengthen Asia’s resiliency against natural catastrophes – one of the three broad ways Singapore can contribute to sustainable growth in the region, according to Mr Heng.
The other two ways include bridging partnerships for regional infrastructure development opportunities through Singapore’s Infrastructure Asia initiative, and promoting sustainable economic growth by growing its sustainable finance sector.
“Singapore seeks to contribute to Asia’s sustainable growth by serving as a key node for channelling financing to the region,” he said.
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