Sets out the corporate governance requirements applicable to all direct insurers and reinsurers incorporated in Singapore (except marine mutual insurers)
Guidelines on Corporate Governance
These guidelines apply to all financial holding companies, banks, direct insurers, reinsurers and captive insurers incorporated in Singapore.
They provide guidance on best practices in relation to board matters, remuneration matters, accountability and audit, shareholder rights and responsibilities, and oversight of related party transactions.
Financial institutions (FIs) should observe the guidelines to the fullest extent possible. FIs should disclose their corporate governance practices and explain deviations from the guidelines through:
- Annual reports, for FIs listed on the Singapore Exchange.
- Websites, for FIs not listed on the Singapore Exchange.