Notice 126 Enterprise Risk Management (“ERM”) for Insurers
Enterprise risk management (ERM) requirements and guidelines for licensed insurers.
Credit risk is the risk arising from the uncertainty of an obligor’s ability to perform its contractual obligations. These guidelines apply to financial institutions (FIs) that extend credit, and provide FIs with guidance on key principles of, and sound practices in credit risk management.
The guidelines cover:
Enterprise risk management (ERM) requirements and guidelines for licensed insurers.
Requirements and principles that govern insurers' investment activities.
Requirements and guidelines on enterprise risk management for designated financial holding companies that has a subsidiary that is a licensed insurer incorporated, formed or established in Singapore (“DFHC (Licensed Insurer”)).
Requirements and principles on investment activities of designated financial holding companies that has a subsidiary that is a licensed insurer incorporated, formed or established in Singapore (“DFHC (Licensed Insurer”)).
This consultation paper sets out MAS’ proposed revisions to the Guidelines on Corporate Governance for Designated Financial Holding Companies, Banks, Direct Insurers, Reinsurers and Captive Insurers which are incorporated in Singapore. MAS is proposing these revisions taking into account international standards and industry good practices.
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.