Singapore's proposed insurance structure could make captive insurance and insurance-linked securities easier and cheaper to establish by lowering costs and reducing administrative work, analysts said. George Ong, regional director at Aon Insurance Managers (Singapore) Pte Ltd., said the proposal could make captive insurance more accessible by lowering entry costs and giving companies an alternative to establishing standalone captive insurers. The regulator said the framework would support captive insurers—insurance companies established by businesses to cover their own risks—and insurance-linked securities, which lets insurers transfer insurance risk to investors. Welsch said the lower cost and simpler structure could encourage more captive insurance and insurance-linked security transactions whilst giving companies, sponsors, and investors greater flexibility. Both said the framework's success should be measured by the number of protected cell companies and cells established, growth in the issuance of captive insurance and insurance-linked securities, and the amount of risk and capital managed through Singapore.