OBS_VALUE: <ul><li><a href=https://sso.agc.gov.sg/Act/IA1966 target=_blank>Insurance Act 1966(Insurance Act 19662020 Revised Edition (Original Enactment: Act 46 of 1966), last amended 01 November 2022. Sections 4 and 11.)</a></li><li><a href=https://www.mas.gov.sg/regulation/Insurance/Direct-Insurers-Licence target=_blank>Monetary Authority of Singapore official website(Direct Insurer: Apply for Licence - Admission Criteria)</a></li></ul>