Commission updates Corporate Governance for Licensed Insurers

The Commission has today reissued the Code of Corporate Governance (“the Code”) to include an appendix containing principles applicable to Licensed Insurers which come into effect for financial years beginning on or after 1 April 2016. 

The introduction to the Code contains some minor updates necessary to insert the new appendix but the Code, guidance and the existing appendices 1 and 2 remain unchanged. 

Licensed Insurers with financial years commencing prior to 1 April 2016 may continue to apply the existing Licensed Insurers’ Corporate Governance Code until their next financial year end.

A link to the updated Code can be found here.