Under Singapore's Insurance Act, what is the difference between a 'direct insurer' and a 'reinsurer'?
-
A
There is no regulatory difference between them
-
B
A direct insurer provides coverage to policyholders; a reinsurer provides coverage to other insurers, and both require separate MAS licences
-
C
Only direct insurers need MAS licences; reinsurers are unregulated
-
D
Reinsurers can also sell directly to the public