On 19 February 2021, the Monetary Authority of Singapore (" MAS") issued a consultation paper inviting public comments on proposed revisions to MAS Notice 126 on Enterprise Risk Management, MAS Notice 125 on Investments of Insurers and MAS Notice 124 on Public Disclosure Requirements. The proposed revisions to MAS Notices 126, 125, and 124 are intended to align MAS' rules and regulations for insurers in line with the development of the Holistic Framework for Systemic Risk in the Insurance Sector (and corresponding updates to the Insurance Core Principles) by the International Association of Insurance Supervisors in November 2019 for the purpose of mitigating systemic risk in the insurance sector. 1. Applicability of the MAS Notices to Insurers