Singapore: the corporate governance of insurers

Earlier this year the Monetary Authority of Singapore published a consultation paper containing, amongst other things, proposals to extend the application of the MAS Insurance (Corporate Governance) Regulations and MAS Guidelines on Corporate Governance for Banks, Financial Holding Companies and Direct Insurers to all locally incorporated insurers and reinsurers (see here). MAS published a summary of the feedback received, together with its response, last month: see here (pdf). MAS states that it is proceeding with its proposal to extend the Regulations and Guidelines to all locally incorporated insurers and reinsurers.