Annual IAIS Conference took place in Singapore in October
2003. Held for the first time in Asia, the meeting saw
a record turnout of 364
Organised around the theme Building Competencies
in the Insurance Sector, regulators and industry
practitioners addressed topics such as solvency, reinsurance,
asset/liability valuation and the reliance relationship
between regulators and the industry. Several key initiatives,
including the adoption of the new set of 28 Insurance
Core Principles, were approved. The Principles serve as
universal benchmarks for regulators.
On the capital markets front, MAS will organise the second
Capital Markets Seminar, with the theme Restoring
Confidence in Turbulent Times, in August 2004.
The seminar will provide a forum for securities regulators
from the region to share their experiences on issues of
common interest, as they seek to develop and maintain
market confidence in a rapidly changing and challenging
environment. The seminar will also include a focus on
some of the leadership challenges in this new environment
by securities regulators.
Enhancing Risk-focused Supervisory Approach
Box 1 Fostering a Sound and Progressive
Financial Services Sector