Monetary Authority of Singapore Annual Report 2012/2013
Anchor of Economy

ENGAGING THE INDUSTRY

Insurance Directors’ Programme

The board of directors of a financial institution is responsible for adequate risk oversight of the organisation’s business activities, including establishing effective processes and controls to manage risks, and ensuring that these processes comply with regulatory requirements. In our efforts to reinforce the responsibilities of boards of institutions across the financial sector, MAS in consultation with directors of insurance companies, organised an Insurance Directors’ Programme for directors of four significant insurance companies and one holding company. The series of seminars focused on effective board governance and entrepreneur risk management for the insurance sector. Speakers included former regulators from developed jurisdictions.