Sets out the corporate governance requirements applicable to all direct insurers and reinsurers incorporated in Singapore (except marine mutual insurers)
Last Revised Date: 18 April 2013
Notice 106 Appointment of Director, Chairman and Key Executive Person
Requirements and guidelines for licensed insurers on the appointment of director, chairman and key executive person.
This notice applies to all licensed insurers.
It sets out requirements and guidelines for insurers to:
- Seek MAS' approval for the appointment of any director, chairman or key executive person.
- Notify MAS of any additional directorship or key executive person role taken up by a director or key executive person.
- Notify MAS of additional equivalent roles taken up by the appointed actuary or certifying actuary.
- Ensure that the proposed appointees for the appointment of directors and key executive persons are fit and proper to fulfil their roles and responsibilities.