Singapore legislation

Regulation 26

of Financial Holding Companies (Corporate Governance of Designated Financial Holding Companies with Licensed Insurer Subsidiary) Regulations 2022

Regulation 26

Responsibilities of Board on risk management

The Board of a Tier 2 DFHC (Licensed Insurer) is responsible for overseeing —

(a)

the establishment and the operation of an independent risk management system for managing risks on an enterprise‑wide basis; and

(b)

the adequacy of the risk management function of the Tier 2 DFHC (Licensed Insurer), including ensuring that it is sufficiently resourced to monitor risk by the various risk categories and that it has appropriate independent reporting lines.

Read in full context — Financial Holding Companies (Corporate Governance of Designated Financial Holding Companies with Licensed Insurer Subsidiary) Regulations 2022 →