SSIC Section L – Financial and insurance activities
Companies in this section provide financial services, insurance, or services that support finance and insurance businesses.
Financial services cover raising money, taking deposits and lending money to others. Banks, finance companies, moneylenders, pawnbrokers, leasing firms and remittance firms are typical examples. The section also covers companies that only hold assets, such as holding companies, trusts and investment funds.
Insurance covers companies that take on risk in return for a premium, including life and general insurers, reinsurers and pension funds. Support services include stockbrokers, money-changers, fund managers, payment processors, insurance agents and brokers, and claims adjusters. Firms that only give IT or other non-financial support to banks or insurers are classified elsewhere.
Commonly registered businesses
- Holding companies of non-financial groups, such as property or trade (64202)
- Single and multi-family offices (66306)
- Other fund managers, such as for shipping trusts and pension funds (66309)
- Investment funds, trusts and personal investment holding companies (64300)
- Holding companies of financial and insurance groups (64201)
- General insurers for motor, property, travel, health and other risks (65124)
Divisions of Financial and insurance activities128 companies
·
| Code | Title | Companies |
|---|---|---|
| 64 | Financial service activities (except insurance and pension funding) | 48 |
| 641 | Monetary intermediation | 14 |
| 6411 | Central Bank | 0 |
| 64110 | Central bank | 0 |
| 6412 | Full Banks | 10 |
| 64120 | Full banks | 10 |
| 6413 | Wholesale Banks | 3 |
| 64130 | Wholesale banks | 3 |
| 6414 | Merchant Banks | 1 |
| 64140 | Merchant banks | 1 |
| 6415 | Finance Companies | 0 |
| 64150 | Finance companies (with deposit taking functions) | 0 |
| 642 | Activities of holding companies | 29 |
| 6420 | Activities of Holding Companies | 29 |
| 64201 | Holding companies (financial and insurance) | 1 |
| 64202 | Holding companies (non-financial) | 28 |
| 643 | Trusts, funds and similar financial entities | 0 |
| 6430 | Trusts, Funds and Similar Financial Entities | 0 |
| 64300 | Trusts, funds and similar financial entities | 0 |
| 649 | Other financial services activities (except insurance and pension funding activities) | 5 |
| 6491 | Financial Leasing | 0 |
| 64910 | Financial leasing companies | 0 |
| 6492 | Other Credit Granting | 0 |
| 64921 | Thrift and loan societies and credit associations | 0 |
| 64922 | Credit card services | 0 |
| 64923 | Mutual benefits organisations | 0 |
| 64924 | Money-lending | 0 |
| 64925 | Pawnbrokerage | 0 |
| 64929 | Other credit granting n.e.c. | 0 |
| 6499 | Financial Service Activities n.e.c. (Except Insurance and Pension Funding Activities) | 5 |
| 64991 | Factoring companies | 0 |
| 64992 | Representative offices of foreign banks | 0 |
| 64993 | Remittance services | 0 |
| 64994 | Treasury centres | 0 |
| 64999 | Other financial service activities n.e.c. | 5 |
| 65 | Insurance, reinsurance, provident funding and pension funding | 24 |
| 651 | Insurance underwriting | 21 |
| 6511 | Life Insurance (Insurance Underwriting) | 8 |
| 65110 | Life insurance | 8 |
| 6512 | General Insurance (Insurance Underwriting) | 13 |
| 65121 | Marine insurance | 0 |
| 65122 | Captive insurance | 0 |
| 65123 | Import, export and credit insurance | 0 |
| 65124 | General insurance | 13 |
| 652 | Reinsurance underwriting | 3 |
| 6520 | Reinsurance | 3 |
| 65201 | Life reinsurance | 1 |
| 65202 | General reinsurance | 2 |
| 653 | Provident and pension funding | 0 |
| 6530 | Provident and Pension Funding | 0 |
| 65300 | Provident funding and pension funding | 0 |
| 66 | Activities auxiliary to financial service and insurance activities | 56 |
| 661 | Activities auxiliary to financial service activities, except insurance and pension funding | 11 |
| 6611 | Securities and commodities exchange | 0 |
| 66110 | Securities and commodities exchange | 0 |
| 6612 | Security and Commodity Contracts Brokerage | 2 |
| 66121 | Stock, share and bond brokers and dealers | 1 |
| 66122 | Foreign exchange brokers and dealers | 0 |
| 66123 | Gold bullion brokers and dealers | 0 |
| 66124 | Commodity and futures brokers and dealers | 0 |
| 66125 | Carbon credit brokers/traders | 1 |
| 66126 | Money-changing services | 0 |
| 66129 | Securities and commodities brokerage n.e.c. | 0 |
| 6619 | Other Activities Auxiliary to Financial Service Activities | 9 |
| 66191 | Trustee, fiduciary and custody services | 0 |
| 66192 | Corporate finance advisory services | 2 |
| 66193 | Clearing and settlement of financial instruments | 0 |
| 66194 | Activities auxiliary to fund management activities | 0 |
| 66195 | Transaction/payment processing services | 5 |
| 66199 | Other auxiliary financial services n.e.c. | 2 |
| 662 | Activities auxiliary to insurance and pension funding | 20 |
| 6621 | Risk and Damage Evaluation | 0 |
| 66210 | Risk and damage evaluation | 0 |
| 6622 | Activities of Insurance Intermediaries | 18 |
| 66221 | Insurance agencies and agents | 9 |
| 66222 | Insurance brokers | 9 |
| 6629 | Other Activities Auxiliary to Insurance and Pension Funding | 2 |
| 66291 | Representative offices of foreign insurers | 0 |
| 66292 | Captive managers | 0 |
| 66299 | Other auxiliary insurance and pension services | 2 |
| 663 | Fund management activities | 25 |
| 6630 | Fund Management Activities | 25 |
| 66301 | Traditional/long-only asset/portfolio management | 17 |
| 66302 | Hedge fund management | 0 |
| 66303 | Property fund/REIT management | 0 |
| 66304 | Private equity firms | 0 |
| 66305 | Venture capital activities | 0 |
| 66306 | Single/multiple family offices activities | 0 |
| 66307 | Private debt funds | 0 |
| 66309 | Fund management activities n.e.c. | 8 |
Companies in Financial and insurance activities128 companies
| Company | Status |
|---|---|
| AMOVA ASSET MANAGEMENT ASIA LIMITED 198202562H Fund management activities n.e.c. | Live Company 16 Jun 1982 |
| APOLLO MANAGEMENT SINGAPORE PTE. LTD. 200618603H Fund management activities n.e.c. | Live Company 12 Dec 2006 |
| ASCENDAS VISTA PROPERTY PTE. LTD. 201732811R Fund management activities n.e.c. | Live Company 15 Nov 2017 |
| AVANDA INVESTMENT MANAGEMENT PTE. LTD. 201425971G Fund management activities n.e.c. | Live Company 2 Sep 2014 |
| COMMONS SR TRUSTEE PTE. LTD. 201713496N Fund management activities n.e.c. | Live Company 16 May 2017 |
| MACQUARIE INFRASTRUCTURE MANAGEMENT (ASIA) PTY LIMITED T06FC6823A Fund management activities n.e.c. | Live Company 24 Feb 2006 |
| T. ROWE PRICE SINGAPORE PRIVATE LTD. 201021137E Fund management activities n.e.c. | Live Company 4 Oct 2010 |
| WESTERN ASSET MANAGEMENT COMPANY PTE. LTD. 200007692R Fund management activities n.e.c. | Live Company 5 Sep 2000 |
Useful information for businesses in this section
- Banks, merchant banks and finance companies need a licence from MAS. (MAS)
- Insurers and insurance brokers must be licensed or registered under the Insurance Act. (MAS, Insurance Act)
- Fund managers and securities dealers usually need a capital markets services licence. (MAS)
- Payment, remittance and money-changing services come under the Payment Services Act. (MAS, Payment Services Act)
- Moneylenders and pawnbrokers need a licence from the Ministry of Law. (Registry of Moneylenders, Registry of Pawnbrokers)