Guidelines
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.
Related to this Item
-
NoticesLast Revised Date: 30 September 2022
Notice 126 Enterprise Risk Management (“ERM”) for Insurers
Enterprise risk management (ERM) requirements and guidelines for licensed insurers.
-
GuidelinesLast Revised Date: 28 June 2021
Guidelines on Risk Management Practices – Board and Senior Management
Guidelines on the role that a financial institution's Board of Directors and senior management play in risk management.
-
GuidelinesPublished Date: 18 January 2021
Guidelines on Risk Management Practices – Technology Risk
Risk management principles and best practice standards to guide financial institutions in managing technology risk.
-
GuidelinesPublished Date: 01 July 2014
Guidelines on Risk Management Practices – Internal Controls
Guidance to financial institutions on sound practices for their internal control environment and business process controls.
-
GuidelinesPublished Date: 01 March 2013
Guidelines on Risk Management Practices – Liquidity Risk
Guidelines for financial institutions on managing their liquidity risk.
-
GuidelinesPublished Date: 01 March 2013
Guidelines on Risk Management Practices – Credit Risk
Guidelines for financial institutions on managing their credit risk.
-
GuidelinesPublished Date: 01 March 2013
Guidelines on Risk Management Practices – Objectives and Scope
Articulates the objectives and scope of MAS’ Guidelines on Risk Management Practices.
-
GuidelinesPublished Date: 01 March 2013
Guidelines on Risk Management Practices – Market Risk
Guidelines for financial institutions on managing their market risk.
-
GuidelinesPublished Date: 01 March 2013
Guidelines on Risk Management Practices – Operational Risk
Guidelines for a financial institution’s operational risk management framework, including business continuity and outsourcing.
-
GuidelinesPublished Date: 01 March 2013
Guidelines on Risk Management Practices for Insurance Business - Core Activities
Guidelines on sound practices in carrying out insurance business and principles relating to risk management framework.
-
ConsultationsPublished Date: 23 January 2013
Consultation Paper on Review of Requirements on Investment Activities of Insurers
- Consultation number:
- P001 - 2013
- Start date:
- 23 January 2013
- Closing date:
- 28 February 2013
- Status:
- Responded
-
GuidelinesPublished Date: 01 November 2012
Guidelines on Risk Management Practices for Insurance Business - Insurance Fraud Risk
Guidelines on risk management practices to mitigate insurance fraud risk.