The board of an insurance company is the supreme governing body of the company. It has numerous stakeholders and many duties, which are discussed in this paper. The literature review concerns e.g., nonexecutive directors, board risk taking and oversight, ESG and diversity policies. In the ...
Description of board of directors and committee policies and practices Description of management policies and practices Management and oversight of critical risk areas In addition to annual reporting, insurers will be required to provide an increased level of compensation di...
Below, we highlight the FRB’s changes to holding company supervision, potential areas of impact, and action steps. Changes to the FRB’s approach to supervision Pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act, the FRB has supervisory oversight res...
MMG INSURANCE COMPANY Job Description Job Title: Commercial Lines Underwriter Department: Commercial Lines Underwriting Reports To: Commercial Lines Manager FLSA Status: Exempt SUMMARY Accepts, rejects, and modifies routine Commercial Lines risks through new business, renewal, and endorsement underwriting with...
Statement by the Board of Directors and the Management This report has been approved by the Board of Directors of Ping An Insurance (Group) Company of China, Ltd. (hereinafter referred to as "Ping An," the "Company" or the "Group"). The Board of Directors and the management of the ...
07 January 2025 Länsförsäkringar's Magnus Strömgren: tackling Sweden's tech risk challenges The Swedish mutual insurance group's CRO discusses his role and the company's responses to an environment of regulatory and technological change, withSarfraz Thind ...
reinsurance and life insurance to a diverse group of clients. The company is defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE...
All insurance companies are at risk from social inflation. As part of the Board’s oversight responsibility, it is important that there is an understanding of how this latent risk may impact the company in unexpected ways. By its nature, that impact is impossible to predict in a specific way...
A mutual insurance company is a corporation owned exclusively by the policyholders who are "contractual creditors" with a right to vote on the board of directors. Generally, companies are managed and assets (insurance reserves, surplus, contingency funds, dividends) are held for the benefit and ...
Both banks and insurance companies are financial intermediaries. However, their functions are different. An insurance company ensures its customers against certain risks, such as the risk of having a car accident or the risk that a house catches on fire. In return for this insurance, their...