iFAST Financial Pte Ltd (Singapore), the Singapore business division of iFAST Corporation, holds the Capital Markets Services Licence and Financial Advisers Licence issued by the Monetary Authority of Singapore (MAS), and is an Exempt Insurance Broker registered with MAS. As a general insurance retail broker, we are in a position to provide you with functional services to meet your insurance needs in the… Singapore – Singapore Phone number
Read Also: Insurance Agent Vs Independent Financial Advisor Vs Personal Banker: What Is The Difference? Licensing For Financial Planners In Singapore. In Singapore, financial planners are licensed and regulated by the Monetary Authority of Singapore (MAS) under the Financial Advisers Act (FAA).
Exempt insurance broker singapore. Companies that wish to carry on insurance broking business in Singapore need to be registered by MAS unless otherwise exempted. Find out about the admission criteria and how to apply. Exempt Insurance Brokers. For exemptions from the requirements to be registered as insurance brokers, refer to section 35ZN of the Insurance Act. Buy, manage and claim at your fingertips. PolicyPal helps you keep your insurance in order. Get it today! For the full list of exempt financial services, please refer to the list of financial services (PDF, 170KB). Arranging of Exempt Financial Services. Services such as the arranging or broking of insurance, underwriting or advising of financial activities do not fall within the scope of exemption. You need to charge GST for such services.
an exempt insurance broker in respect of any misconduct committed by any of its broking staff, the insurance broker or exempt insurance broker shall, at the request of the Authority, furnish the records set out in paragraph 10 to the Authority. Disciplinary Action 12 An insurance broker or an exempt insurance broker is responsible for Any registered or exempt insurance broker shall report to the MAS, upon discovery of any misconduct as laid down in Notice to Insurance Brokers committed by their staff by submitting a misconduct report not later than 14 days after the discovery of the misconduct by the registered or exempt broker, as the case may be. For example, if you are an insurance broker and you receive a commission from an insurance company for arranging a life policy for a local policyholder, you must charge GST at 7% for this service that you provide to the insurance company. You must do so even though the premium of the life policy is exempt from GST.
Banks, merchant banks, finance companies, insurance companies, insurance brokers and holders of a CML License are all exempt from requiring an FA License. These entities are already regulated by the Monetary Authority of Singapore (MAS) under separate legislation. Click here to read our new corporate flyer today, or read on to learn more about why we are the insurance broker of choice in Singapore. The Pacific Prime difference Founded in 2000 in Hong Kong, and in Singapore for over a decade, Pacific Prime has grown significantly to become one of the world’s leading insurance brokers. Find a financial institution, licence type or activity in Singapore. See All Financial Institutions. Directory Home. 88 result(s) Print/Download List. View. Registered Insurance Broker; Exempt Financial Adviser +65 62251900: 151 CHIN SWEE ROAD #03-03 MANHATTAN HOUSE 169876: ANIKA INSURANCE BROKERS & CONSULTANTS PTE LTD.
Promiseland is also an exempt independent general insurance broker.. able to provide the products from just about every general insurance and employee benefits company in Singapore. Our corporate clients range from small-medium enterprises to listed companies and multinational companies. Singapore offers a wide and comprehensive range of marine insurance services, with a number of marine insurers and Protection and Indemnity (P&I) Clubs operating here. The increase in Asian trade in recent years has led to a corresponding rise in demand from ship and cargo owners for marine insurance. MAS Withdraws the Exemption of Three Insurance Brokers under the Financial Advisers Act. "Aviva would like to assure our customers that no Aviva product is affected by the withdrawal of the exempt financial advisor status of each of Acclaim Insurance Brokers Pte Ltd (AIB), Leadenhall Insurance Brokers Pte Ltd (LIB), and Magnetron Insurance & Financial Services Pte Ltd (MIFS) under the.
Insurance and reinsurance is exempt from VAT under article 135 of the Sixth VAT Directive. So are "related services provided by insurance brokers and insurance agents". No definition is given of broker or agent, nor of related services, although it is clear they must be insurance-related. Insurance brokers tend to be relatively easy to identify. (2) Any insurance broker which fails to comply with any of the conditions imposed by the Authority under subsection (1) or section 35X(2) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 and, in the case of a continuing offence, to a further fine not exceeding $5,000 for every day or part thereof during which the offence continues after conviction. Insurance Tax Highlights – Asia Pacific Singapore March 2014 Singapore is recognised as a leading insurance hub in Asia-Pacific and home to many top global insurance players. It has an ecosystem comprising a strong brokers’ cluster, the largest captive community in Asia Pacific, a growing cluster of specialty players and the largest grouping of
Visit www.insurance.poems.com.sg to purchase online As your insurance broker, Phillip Securities protects your interests and ensures that you are adequately covered. Select your coverage from over 35 insurance providers With a wide network of over 20 established insurance carriers, we are able to recommend you the most suitable policies for your preferred coverage. ACCLAIM INSURANCE BROKERS PTE. LTD. was incorporated on 18 November 1982 (Thursday) as a Exempt Private Company Limited by Shares in Singapore. The Company current operating status is live with registered address at INTERNATIONAL PLAZA. The Company principal activity is in INSURANCE AGENCIES AND AGENTS (INCLUDING FINANCIAL PLANNING SERVICES). Find a financial institution, licence type or activity in Singapore. See All Financial Institutions. Directory Home. 39 result(s) Print/Download List. View * Please note that a financial institution may hold multiple licences. Therefore, the results count on the licences may be higher than the number of financial institutions returned.
GOBEAR INSURANCE BROKER (SG) PTE. LTD. (the "Company") is a Exempt Private Company Limited by Shares, incorporated on 24 July 2019 (Wednesday) in Singapore. The address of the Company's registered office is 137 TELOK AYER STREET , #08-01, SINGAPORE (068602) . EL-Mandate Advisory Pte Ltd is a licensed financial advisory company and exempt insurance broker. Founded and headquartered in Singapore, our team has more than 30 years of experience, and a strong track record in providing solutions to individuals and businesses. A broker is an independent agent, who represents the buyer, rather than the insurance company, and tries to find the buyer the best policy by comparison shopping. After gaining some experience in the industry this is a way to start your own business in the form of a brokerage which you could develop into a specialist broker who focuses on the.
“exempt reinsurance broker” means an exempt insurance broker carrying on business as a general reinsurance broker or a life reinsurance broker; [ Deleted by S 840/2018 wef 01/01/2019 ] “net asset value”, in relation to a company, means the excess of the value of the assets owned by the company over its liabilities.