The Board is committed to good corporate governance and has adopted policies pursuant to the principles and guidelines in the Guidelines on Corporate Governance for Financial Holding Companies, Banks, Direct Insurers, Reinsurers and Captive Insurers which are incorporated in Singapore (CG Guidelines) by the Monetary Authority of Singapore (MAS) and the Insurance (Corporate Governance) Regulations 2013 (CG Regulations) issued on 3 April 2013 and the Singapore Exchange Securities Trading Limited Listing Manual (SGX Listing Manual). The Company has put in place an internal guide to ensure good corporate governance in its business practices and activities. The Company believes that it has complied with the spirit and intent of the CG Guidelines and in areas where the Company’s practices have deviated from the CG Guidelines, rationale for the same is provided herein.
The Company aims to preserve and enhance shareholder value by ensuring high standards of corporate performance and accountability.
The Board is supported by specialised Board committees to facilitate effective oversight of the Company and supervision of Management and the matters delegated by the Board to such Board committees are listed out in the terms of reference of each Board committee. The Board committees, namely, the Executive Committee, Audit Committee, Nominating Committee, Remuneration Committee and Investment Committee meet regularly to consider the audit and risk management processes, investments, remuneration, nomination and other matters. A report on each committee’s last meeting is provided at the next Board meeting.