Signator life insurance

Signator life insurance Signator life insurance and found it difficult to adapt to the recent accounting and tax system changes.

Signator life insurancePwC commercial consultants pointed out that since the new system introduced, signator life insurance and insurance benefits will find the calculation and dividend distribution will change.

However, PwC pointed out that these changes in Singapore as the global financial industry participants are necessary.

PwC forensic business partner, Insurance Group is responsible for partner Sim Hwee Cher said: ”financial derivatives and insurance contracts of these new guidelines and by the MAS (Singapore HKMA) regarding the implementation of changes in venture capital in Singapore’s financial industry to enhance the level of . We want to become a participant in the global financial industry, so Singapore will have to develop some system. ”

Tax Partner, PwC, insurance tax partner in charge pointed out that Yip Yoke Har, the world changes, the insurance industry is changing the accounting system for the field with the global standards, Singapore should speed up the change.

PwC pointed out that from January 1 last year, the entry into force of the accounting and regulatory changes signator life insurance and the insurance have certain influence.

Sim said that since the enactment of the new system to measure the benefits and insurance will be a new situation in surplus, taxes will be affected. When our insurance companies and their taxable surplus arising from differences of the dividend distribution of insurance will also be affected.

On the signator life insurance, the new system will affect their plans to cash flow and expenditure approach. However, PwC said that enterprises should consider a number of long-term.

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