Since starting commercial operations, the Company has developed policies and processes for managing capital.
Singlife Shield | DBS Singapore Section B(6) / Duties, Responsibilities, and Functions of each Director. Our customer service team is happy to chat with you. Full details on address, operating hours, doctor in charge & more here! As at December 31, 2020 and 2019, the Company is fully compliant with the minimum statutory net worth requirements. Evaluate all material RPTs to ensure that these are not undertaken on more favorable economic terms (e.g., price, commissions, interest rates, fees, tenor, collateral requirement) to such related parties than similar transactions with non-related parties under similar circumstances and that no corporate or business resources of the Company are misappropriated or misapplied, and to determine any potential reputational risk issues that may arise as a result of or in connection with the transactions. To ensure compliance with these externally imposed capital requirements, it is the Companys policy to assess its position, at least on a quarterly basis, against set minimum capital requirements. DETROIT, MI 48221.
Henry Ford Health | Henry Ford Health - Detroit, MI Ensure the implementation of an appropriate risk management process, and to manage a business, financial and operational risks of the Company; VII. WebYou can get Singlife Cash For Medical Costs for you or your family members depending on your chosen product. The non-audit work should be disclosed in the annual report; k. Establish and identify the reporting line of the Head of Internal Audit or other relevant person of SLP so that the reporting level allows the internal audit activity to fulfill its responsibilities. Singlife Philippines Shareholders, Directors, Officers and Employees adhere to conducting themselves in a professional and ethical manner of the highest standards. 2016-68 which supersedes all previously issued IC CL on RBC and shall be implemented effective January 1, 2017. It is therefore understandable that when he was invited to lead AXA Philippines, after successfully heading INGs retail business in Malaysia and subsequently Poland, he took his chance and accepted the challenge to turnaround the distressed business. The Risk Oversight Committee (ROC) shall be composed of least three (3) members, majority of whom should be independent Directors including the Chairman. He may propose appointment of new members to the Board or seek the resignation of directors. Reports to the Board on a regular basis, or as deemed necessary, on the Company's material risk exposures, the actions taken to reduce the risks, and recommends further action or plans, as necessary; and. Officers, directors, shareholders, and employees must abstain themselves from participating in any and all discussions and activities which relate to the conflict of interest, and they shall not use any information not publicly available to attain profit for themselves. The chairman of the CGCom shall be appointed by the Board. Set for release within the year are upgraded versions of Singlife Philippines protection products currently available in GInsure on the GCash app. The formal notice (Notice), Agenda (which already contains rationale and explanation to inform Directors regarding each agenda item), and meeting materials are circulated to the Directors at least 5 days in advance prior to the board meeting. Duties, Responsibilities, and Functions of each Director. Approve renumerations of Directors;4. We aim to prioritize our customers by making insurance accessible to them 24/7. : All Directors are provided with continuous training about corporate governance and regulatory requirements. Each plan can be tailored to fit ones lifestyle, budget, and needs to to provide the best possible price for the right amount of coverage. a. Data show that most people have only one month worth of savings for emergencies, which is likely not enough to pay off bills and sustain daily needs long till they are able to recover from the incident. The latter is composed of mainly middle-income families who are left in the dark on how to protect themselves because majority of life insurance products are designed for the higher income segments. Agree on a strategic plan for the Company; II. The Company elevates any requirement for additional capital infusion to shareholders to address any foreseen capital deficiency. Qualifications: Eir graduated with honors from the De La Salle University Manila with a degree in BS Legal Management. Duties, Responsibilities and Functions of each DirectorAll Directors are required to: I. To enhance Board and Management effectiveness, the Board will evaluate its performance at least annually, including all related matters reserved to the Board and the performance of the Board Committees and individual directors. Upon constitution, the ROC shall draft its Terms of Reference for the conduct of its functions, duties and responsibilities for the approval of the Board. 10607 to be known as the New Insurance Code which prescribes that new domestic insurance companies shall possess at least a paid-up capital amounting to P=1.00 billion for it to engage in business in the Philippines. Feel 4.
Mount Alvernia Hospital Singapore | MyFamilySecure Having life insurance in place ensures that you have the money you need when you need it most.When you are insured, you have a guaranteed source of money to cushion the blow of an expensive medical bill or a sudden loss of income. By creating transparent and understandable product propositions, administered in a cost-effective manner, the banks venture became a success both by increasing customer share of wallet as well as by improving the banks financials. No matter how much you earn or save, there will still be times when your income or savings are not enough. Please refer to the policy schedule for the plan that you have bought. A(1)(I) / Corporate Governance Principles. Audit findings and recommendations shall be reported to the Board and Management. As at December 31, 2020 and 2019, the Company has complied with the unimpaired capital requirement. The Board is primarily responsible for the governance of the Company. Under the Companys Articles of Incorporation, the Board shall have seven (7) directors, with at least two (2) elected by the shareholders. In the event that a meeting of the shareholders cannot be held for lack of a quorum, the meeting shall be adjourned to the same time and day of the following week and at the same place and at least one (1) weeks notice shall be given to the shareholders in relation to such adjourned meeting. The allocation of each fund can range from 0% to 100%, as long as the total allocation is 100%. We also protect all creditors information by safeguarding their personal information by applying our data privacy policies. initiatives including ING Directs Euro strategy.
APS for Hospital Care Benefit for Child 240423 Certification of Corporate Secretary, Annex A, Company Information Sheet 2022. 3 days ago. The Chairman of the Audit Com should not be the chairman of the Board or of any other committees. iii. Monitor, assess, and control the performance of the business against the approved budget and the strategy; V. Ensure that a capable and motivated workforce is in place and can be sustained through recruitment, hiring, performance management, succession planning, training and development. Simply put, life insurance makes all the difference when things do not go as planned.Knowing how beneficial life insurance can be, it is troubling to know that majority of the insurable population in the Philippines still miss the benefits that come with being financially protected. The responsibilities set out above may pertain only to the Chairmans role in respect to the Board proceedings and should not be taken as a comprehensive list of all the duties and responsibilities of a Chairman. Disclose to the Chief Executive Officer, Chairman of the Board or Corporate Secretary their interest in transactions or any other conflict of interest within three (3) days from the occurrence or discovery of such interestor conflict. On January 13, 2015, the IC issued Circular Letter (CL) No. Further policies and guidelines strategy and framework are presented to the Board for approval. Such regulations not only prescribe approval and monitoring of activities but also impose certain restrictive provisions [e.g., net worth requirements and risk-based capital (RBC) requirements]. d. Report to the Board of Directors on a regular basis, the status and aggregate exposures to each related party as well as the total amount of exposures to all related parties. Notices for regular or special shareholders meetings shall be sent by the Corporate Secretary by personal delivery, by mail or by electronic-mail at least fourteen (14) days prior to the date of the meeting (or such shorter period of notice in respect of any particular meeting as may be agreed by all the shareholders) to each shareholder of record at his/her last known post office address, his/her declared electronic mail address, or by publication in a newspaper of general circulation. Exercise their appraisal rights over certain matters. For Management, Company provides Short-Term and Long-Term Incentives that both depend on individual performance and Company performance. Board members are selected based on their capabilities and their fit within the team to exercise the responsibilities of the Board. Review and make recommendations to the Board on the Company's remuneration policy or structure, and ensure that such remuneration policy or structure is: (i) in line with the applicable requirements as set by the Directors or shareholders in any form of written agreement, as may be appropriate, or with the Companys business strategies; (ii) at par, if not better, than those paid by comparable companies; (iii) commensurate to the time and commitment required from and delivered by the subject persons; (iv) in line with the good corporate governance practice, and (v) governed by a proper framework that ensures fair and timely execution of the Remuneration Policy; iv. Section 21.5.2 / Governing Law and Arbitration. The notice shall state the place, date and hour of the meeting, and the purpose or purposes for which the meeting is called. She achieved her Juris Doctor degree from the Ateneo Law School in 2010.Trainings: Last training attended was the Money Laundering & Terrorist Financing Prevention Program (MTP) Seminar by Norberto Nabong, NNabong Training Services in 2020.Relevant Experience: Having over 9 years of experience in the life insurance industry, Eir was the Head of Legal of FWD Life Insurance Corporation, one of the newest insurance companies in the Philippines. Approves the qualifications (and disqualifications) needed for each Board Appointee, andensures that the Company recommends only to the Board for appointment individuals whopossess the approved qualifications; b. All of Singlifes employees, management, directors, and shareholders conduct its business with honesty and integrity, and strictly observes the ethical business practice in terms of accepting gifts and other personal benefits. Michelle Suarez-Balois (Corporate Secretary). WebBRENT GENERAL HOSPITAL. Approval of the enterprise risk management strategy which may include focus on the following elements: (a) common language or register of risks, (b) well-defined risk management goals, objectives and oversight, (c) uniform processes for assessing risks and developing strategies to manage risks that are identified and prioritized, (d) designing and implementing risk management strategies, and (e) continuing assessments to improve risk strategies, processes and measures, and delegate approval of the enterprise risk management plan (Plan) to a risk management committee which may be established by the Board; b. The RBC Requirement is defined under RBC2 Framework as the capital required to be held appropriately to the risks an insurance company is exposed to. The members of the Audit Com shall be appointed by the Board from time to time from among the Directors and shall be composed of at least three (3) non-executive Board members, of which 2 need to be independent, all of whom must have relevant background, knowledge, skills, and/or experience in the areas of accounting, auditing, and finance. She achieved her Juris Doctor degree from the Ateneo Law School in 2010. Any shareholding or interests of more than five percent (5%) held by the employee, director orcontractor or by a member of his/her family up to second (2nd) degree of consanguinity oraffinity in the vendor/supplier business; orii. The Chairman of the Board is appointed by the shareholders by rotation for a period of twenty-four (24) months with each shareholder having a shareholding percentage of twenty percentage (20%) or more at all times being able to nominate a director as Chairman. In appointing Directors, the Office of the Corporate Secretary requires each candidate to submit their Biographical Data (format of which is as prescribed by the Insurance Commission). 35-2006. Affiliation:i. vii. e. The Corporate Secretary or his/her designated representative shall act as the Secretary of the Committee.
MySinglife Responsible for coordinating, monitoring, and facilitating compliance with existing SLP Compliance Policies, laws, rules and regulations; j. Expense risk - risk of loss arising from expense experience being different than expected. We deliver advanced surgical care for serious and Singapore Life Philippines. At the same time, customers can seamlessly put in place mitigation plans in the form of protection tools, so expected and unexpected events do not derail them from achieving targets. We strongly encourage all our stakeholders (partners, employees, directors, shareholders, and others) to speak up and report any wrongdoing by sending an email to [emailprotected] without fear of retaliation. said Rien Hermans, CEO of Singlife Philippines. d. The ROC will act on matters for and on behalf of the Board under authority properly delegated to it, which includes but is not limited to the matters below: 1. She previously served as legal counsel and distribution compliance officer for Manulife Philippines and was President of the Life Insurance Claims Association of the Philippines. B(1)(X) / Responsibilities of the Board. VI. Prior to this he was a Compliance Assistant Manager of Allianz PNB Life and a Compliance Specialist of Insular Life. I. We are committed to complying with laws, relevant regulations and company policies. Approval of the enterprise risk management strategy which may include focus on the following elements: (a) common language or register of risks, (b) well- defined risk management goals, objectives and oversight, (c) uniform processes for assessing risks and developing strategies to manage risks that are identified and prioritized, (d) designing and implementing risk management strategies, and (e) continuing assessments to improve risk strategies, processes and measures, and delegate approval of the enterprise risk management plan (Plan) to a risk management committee which may be established by the Board; 2. Most insurance companies are still running on core systems that were developed in the eighties, said Rien Hermans, CEO of Singlife Philippines. b. The Singlife Plan & Protect app enables customers to build a better, smarter emergency fund that can be withdrawn at any time using a nifty Singlife Card. Disclose any conflicts of interest and to abstain from participating in any discussion or voting on any matter in which they have a material personal interest unless prior approval of the Board has beenobtained. 22-2008 provided that for the purpose of determining compliance with the law, rules and regulations requiring that the paid-up capital should remain intact and unimpaired at all times, the statements of financial position should show that the net worth or equity is at least equal to the actual paid-up capital. Directors are expected to regularly attend meetings of the Board and Committees of which they are members in person or through teleconference, video conference, or any other means.
Contact us - Singlife The fund manager also has the option to use alternate funds not in the pool up to a maximum allocation of 10%. A Peso-denominated Investment-linked fund managed by Metrobank for Singlife Philippines, which aims to provide long term capital growth by investing in a diversified portfolio of US Dollar denominated equities and equity funds. In appointing Directors, the Office of the Corporate Secretary requires each candidate to submit their Biographical Data (format of which is as prescribed by the Insurance Commission). The Parties agree to use their best efforts to resolve, through negotiation in good faith, any and all controversies or claims arising out of or in connection with the interpretation or application of the provisions of this Agreement, including the breach, termination or invalidity thereof (each, a Dispute). c. Ensure that appropriate disclosure is made, and/or information is provided to regulating and supervising authorities relating to the Companys RPT exposures, and policies on conflicts of interest or potential conflicts of interest. Board Structure and Composition, 2nd paragraph. 2023/02-R. Do I get a physical copy of my insurance policy? 3.8. Net worth shall consist of paid-up capital, retained earnings, unimpaired surplus, and revaluation of assets as may be approved by the Insurance Commissioner. Rien began his presentation by highlighting the various milestones achieved by the Company beginning April-September 2019 until January 2021. The below table shows how the RBC ratio as at the reporting date was determined by the Company: The final RBC ratio can be determined only after the accounts of the Company have been examined by the IC specifically as to admitted and non-admitted assets as defined under the Code. Board diversity shall include, but is not limited to skill, experience, age, gender and ethnicity. The minimum net worth of the said companies shall remain unimpaired at all times and shall increase to the amounts as follows: Net Worth Compliance Date, P550,000,000 December 31, 2016, P900,000,000 December 31, 2019, P1,300,000,000 December 31, 2022. The Board shall foster and encourage a corporate environment of strong internal control, fiscal accountability, high ethical standards and compliance with the law and code of conduct. Devote time and attention necessary to properly discharge their duties and responsibilities. Review and assess the adequacy and effectiveness of its Terms of Reference annually and request for Board approval for proposed changes. There being none, the directors unanimously approved the presentation. Board Structure and Composition, 3rd paragraph. Ensure the continuing soundness, effectiveness and adequacy of SLPs control environment. Singlife Philippines understands that customers look for protection products that fit their needs, their budget, and are always on hand. Further, it is essential that the partner believes in what we believe in putting customers in control of their finances through technology, offering meaningful benefits at a fair price, and delivering an exemplary customer experience every single time., The company is actively engaged in various stages of discussions with potential partners, so customers can look forward to availing protection products that are big on coverage and easy on the wallet from other digital platforms they are already familiar with, very soon. At the same time, the regulators are also interested in ensuring that the Company maintains appropriate solvency position to meet liabilities arising from claims and that the risk are at acceptable levels. It safeguards customers and their loved ones from great financial distress due to accidents that can cause a person, especially a breadwinner, to become physically incapable of earning a monthly income. Receive regular information on management of credit, market, liquidity, operational, legal and other risk exposures of the Company; 6. They can be adjusted or stopped at any time with zero cost, knowing financial situations can change in a snap. c. The Board shall ensure that reports accurately reflect the financial condition and the results of the Companys operations. At least one member of the committee must have relevant thorough knowledge and experience on risk and risk management. The level of capital maintained is usually higher than the minimum capital requirements set by the regulators and the amount computed under the Amended RBC (RBC2) Framework. c. Each member shall have adequate understanding at least or competence at most of SLPs financial management systems and environment. The Company principally writes life insurance where the life of policyholder is insured against death, illness, injury or permanent disability, usually for a pre-determined amount. Appointees are persons whose appointment must be approved by the Board or the Shareholders, as stated in relevant laws, rules, regulations or Company policies. b. Present to the shareholders a balanced and understandable assessment of the Companys performance and financial condition. We use cookies to enhance your website browsing experience and show you relevant content. Jay Mercene (Assistant Corporate Secretary). Evaluate and determine non-audit work by an external auditor and keep under review the non-audit fees paid to the external auditor both in relation to their significance to the auditor and in relation to SLPs total expenditure on consultancy. All of Singlifes employees, management, directors, and shareholders conduct its business with honesty and integrity, and strictly observes the ethical business practice in terms of accepting gifts and other personal benefits. 7. Review and assess the adequacy and effectiveness of its Terms of Reference annually and request for Board approval for proposed changes. All gift-giving activities must be properly disclosed to Management before they are carried out. There being none, the directors unanimously noted the presentation. 4th Avenue Bonifacio Global City, Taguig, Philippines 1634, Open Monday to Friday, 9:00 AM to 8:00 PM, Contact us at help@singlife.com+632-8299-3737. The Board shall use the ASM to communicate with investors and encourage theirparticipation. Approves the qualifications (and disqualifications) needed for each Appointee, and ensures that the Company recommends only to the Board for appointment individuals who possess the approved qualifications; ii.
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SingHealth - Wikipedia d. All resolutions shall be recorded and included in the minutes of the meeting. c. The Corporate Secretary of the Committee shall be appointed by the Chairman of the Committee.
Moreover, Insurance Memorandum Circular (IMC) No. Provide oversight over the Senior Managements activities in managing credit, market,liquidity, operation, legal and compliance, and other risks of the Company; b. ProvideoversightoftheCompanysinternalandexternalauditors; c. Review and approve audit scope and frequency, and the annual internal audit plan; d. Approve appointment of the external auditor, including any question of its resignation ordismissal, and the audit fees for the particular audit year; e. Discuss with external auditor the nature and scope of its audit, and ensure coordinationwhere more than one audit firm is involved; f. Monitor and evaluate the adequacy and effectiveness of SLPs internal control system; g. Receive and review reports of internal and external auditors and regulatory bodies, whereapplicable, and ensure that management is taking appropriate corrective actions, in a timelymanner in addressing control and compliance functions with regulatory bodies; h. Review the quarterly, half-year, and annual financial statements before submission to theBoard; i.
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