![]() He explained that, “MAS will extend the Insurance-Linked Securities (ILS) Grant Scheme till end 2025 to support the continued growth of catastrophe bonds and additional climate risk financing instruments such as sidecars and collateralised reinsurance arrangements.”Īdding that, “This will enable additional financing for protection against disaster risks to be raised from the capital markets.” He also placed the ILS Grant Scheme as a priority within the Monetary Authority’s Finance for Net Zero (FiNZ) Action Plan, a strategy to to mobilise financing to catalyse Asia’s net zero transition and decarbonisation activities in Singapore and the region. Speaking this morning, Mr Lawrence Wong, Deputy Prime Minister and Minister for Finance of Singapore, as well as Deputy Chairman of the financial regulator the Monetary Authority of Singapore (MAS), announced this extension. Now, the ILS Grant Scheme has been extended for a further three years, so the Singapore ILS Grant will now be available to qualifying cat bond and other ILS sponsors right through until the end of 2025. The ILS Grant Scheme has certainly assisted in bringing this ILS activity to Singapore, but so too have the regulators flexible approach and willingness to engage directly with ILS market participants around the globe. Singapore began its focus on insurance-linked securities (ILS) as a business opportunity around 2016, becoming a regular keynote speaker at our series of ILS Asia conferences (the next conference upcoming in July 2023) and engaging withe ILS market participants globally.īy late 2017, plans for an ILS Grant Scheme to help fund some of the upfront costs incurred in issuing catastrophe bonds in the country were formulated and an ILS working group established to set a strategic direction.įast-forward to 2023 and we now have 21 separate Singapore located catastrophe bond issues listed in the Artemis Deal Directory, while we’ve also seen three issuances of a collateralised reinsurance sidecar that benefits MS Amlin in Asia. ![]() We hope that every human, creature, and ghost has a purrfectly magical day.The insurance-linked securities (ILS) grant scheme in Singapore has been a significant help in the country attracting catastrophe bonds and other ILS activity and it has now been extended by a further three years, to run until the end of 2025. Regardless, we loved the process of dreaming up the possibilities. Plans like the “Eiffel Tower spell” were abandoned, and similarly, gag spells didn’t make the cut. We had so many ideas for elaborate symbols to draw, like a witch’s hat that would appear on the character’s head after it was drawn! In the end we decided that for a short game against the clock, simple was better. We had lots of fun ideas for the resident foe of each level, including a chef ghost, a venn diagram ghost, and a big whistle ghost that summons other spirits.ĭoodling for a whole Doodle game was very exciting for us. The game includes five levels set in a school environment: the library, cafeteria, classroom, gym, and the building’s rooftop. “Graveyard” concepts included vacuums, candy-eating ghosts, and hiss-worthy exams. This opened the door to a more robust world filled with interesting characters and paw-some themes. Connecting soup to Halloween proved too abstract, so the team shifted to the idea of a wizard school. The original concept for the game involved a magic cat making a soup that was so good, it raised the dead. It seemed like a good opportunity for a cat hero, since the winner of last year’s Candy Cup Doodle was Yellow Witch and her black cat. The inspiration for this year’s cat spell-casting game came from a real-life black cat named Momo that belongs to Doodler Juliana Chen. And you’d better pounce fast-the ghost that stole the master spellbook is getting away!įrom the team that created the Magic Cat Academy: Help her cast out mischievous spirits by swiping in the shape of the symbols above the ghosts’ heads. This year’s Halloween Doodle follows freshman feline Momo on her mission to rescue her school of magic. Press play to swipe spells, save your friends, and help restore the peace at the Magic Cat Academy. ![]() Grab your wand and help fend off a ghostly catastrophe.
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