Risk management principles and best practice standards to guide financial institutions in managing technology risk.
Guidance on Insurers' Own Risk and Solvency Assessments
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.