Deepening Singapore's Role As A Risk Management Hub – Singapore's Proposed Protected Cell Company Structure

• Published date: 09 July 2026
• Subject Matter: Corporate/Commercial Law, Insurance, Corporate and Company Law, Corporate Governance, Insurance Laws and Products
• Law Firm: Withers LLP
• Author: Mr Daniel Yong, Gary Beh and Claire Tian

On 7 July 2026, the Monetary Authority of Singapore ("MAS") launched a consultation proposing to establish a legislative framework for a new corporate structure in Singapore – the Protected Cell Company ("PCC"). The initiative aims to strengthen Singapore's position as risk management hub and to support the growth of alternative risk transfer solutions.

At present, risk owners in Singapore must set up individual legal entities in the form of special purpose vehicles in order to legally ringfence capital, assets and liabilities for each risk programme or coverage. MAS observes that the effort and costs to do so can deter the broader adoption of solutions that would support better risk management and protection.

The PCC structure is designed to lower the barrier to entry for participation in the alternative risk transfer market by permitting asset and liabilities to be segregated into individual Cells yet remain housed under a common platform and single entity (the PCC) and therefore provide a more cost-efficient, streamlined and flexible structuring option.

It is intended...