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Corporate Governance Disclosure in Insurance Sector

IHC. Insurance Holding Company. Ministry of Investment. Corporate Governance Disclosure in Insurance Sector. IHC. Insurance Holding Company. Introduction. The main pillars of our work plan. Corporate Governance in Insurance Sector. IHC. Insurance Holding Company. Introduction.

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Corporate Governance Disclosure in Insurance Sector

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  1. IHC Insurance Holding Company Ministry of Investment Corporate Governance Disclosure in Insurance Sector

  2. IHC Insurance Holding Company • Introduction • The main pillars of our work plan • Corporate Governance in Insurance Sector

  3. IHC Insurance Holding Company Introduction 1- Reform of the public sector. 2 - Companies are being restructured to prepare them for open market. 3 - Management teams are being reorganized & retrained to adopt corporate governance principles .

  4. IHC Insurance Holding Company Introduction The Ministry of Investment has, for the first time puts guidelines and measures to ensure the application of corporate governance principles. We are part from all of this

  5. IHC Insurance Holding Company Ministry of Investment Insurance Holding Company

  6. IHC Insurance Holding Company • Introduction • The main pillars of our work plan • Corporate Governance in Insurance Sector

  7. IHC Insurance Holding Company The main pillars of our work plan 1- Fulfill the requirements of the law -203 for public sector enterprise. 2- Managing the restructuring of the subsidiary companies. 3- Reform as you go and value creation process. 4- Reforms in Insurance laws .

  8. IHC Insurance Holding Company • Introduction • The main pillars of our the work plan • Corporate Governance in Insurance Sector

  9. IHC Insurance Holding Company Corporate Governance in Insurance Sector Key elements of insurance governance A Strong System Strong governance in the insurance sector requires Two lines of defense

  10. IHC Insurance Holding Company Key elements of insurance governance include : The regulatory approach.

  11. IHC Insurance Holding Company • A strong system would be characterized by: • risk management . • (2) supervisory boards . • (3) accounting standards . • (4) corporate structures . • (5) a risk-based supervisory approach • (6) protection of policyholders.

  12. IHC Insurance Holding Company Strong governance in the insurance sector requires two lines of defense. External Internal

  13. IHC Insurance Holding Company Strong governance in the insurance sector requires two lines of defense. The first line of defense consists of the internalorgans of the company • Risk management . • Actuary . • Supervisory board . • Life insurance requires .

  14. IHC Insurance Holding Company Strong governance in the insurance sector requires two lines of defense. The second lineof defense consists of External measures provide. The Supervising authority .

  15. IHC Insurance Holding Company Strong governance in the insurance sector requires two lines of defense. • Both lines of defense are needed to Ensure • A high level of transparency • and accountability in the sector . • An effective form of discipline.

  16. IHC Insurance Holding Company The insurance industry in Egypt plays an active and essential role .

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