Published Date: 19 July 2017

Guidance on Insurers' Own Risk and Solvency Assessments

Information paper outlining MAS' key observations from a review of the industry’s Own Risk and Solvency Assessment (ORSA) reports, with the aim of guiding insurers towards improving their respective ORSAs.

This information paper applies to all licensed insurers, except for captive insurers and marine mutual insurers.

It summarises MAS’ key observations from a focused review of ORSA reports submitted by direct life, general and composite insurers as well as reinsurers.

The review was centred on board deliberations, risk governance structures, risk tolerance statements and limits, risk management processes, and continuity analyses and stress tests.