Notice FHC-N106 Appointment of Director, Chairperson, Member of Nominating Committee, and Key Executive Person
This Notice applies to all DFHCs (Licensed Insurer). It sets out the requirements and guidelines for DFHCs (Licensed Insurer) to:
- Seek MAS' approval for the appointment of any director, chairperson or key executive person.
- Notify MAS of any additional directorship or key executive person role taken up by a key executive person.
- Ensure that the proposed appointees for the appointment of directors and key executive persons are fit and proper to fulfil their roles and responsibilities.
Corporate governance requirements for designated financial holding companies that has a subsidiary that is a licensed insurer incorporated, formed or established in Singapore (“DFHC (Licensed Insurer)), including the independence of directors, composition of the board of directors and board committees, and their responsibilities.
Guidelines on corporate governance for financial institutions incorporated in Singapore.
Guidelines on fit and proper criteria for all relevant persons carrying out any activity regulated by MAS.
Guidelines on the role that a financial institution's Board of Directors and senior management play in risk management.
Informs locally incorporated insurers on the release of the consultation paper on the 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