Singapore life insurers in growing unease as MAS zooms in on agents' compensation

ST understands the line of questioning is centred on whether insurers who rely on agents or advisors to distribute their products, have breached any rules in their compensation structures.
ST understands the line of questioning is centred on whether insurers who rely on agents or advisors to distribute their products, have breached any rules in their compensation structures.PHOTO: ST FILE

SINGAPORE - Singapore's financial regulator has ramped up efforts in recent weeks to look more deeply into life insurers' compensation structures for agents, triggering a sense of nervousness in the industry.

The Straits Times understands from market sources, who spoke on condition of anonymity, that senior agency leaders of Prudential - one of the major life insurance players - were roped in to help with queries from the Monetary Authority of Singapore (MAS) more than a month ago.

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