Corporate Governance

China Taiping Insurance (Singapore) Pte Ltd (“the Company”) is committed to the establishment of good standards of corporate governance practices, emphasizing our philosophy to value creation through diligent management. The Board reviews its corporate governace practices from time to time to fulfill its commitment to excellence in corporate governance and to ensure its compliance with regulatory standards.

The Board is collectively responsible for overseeing the management of the business affairs and formulates the overall strategy for the Company. The Board delegates to the Management Committee the responsibility of the execution of strategic plans and the management of daily operational matters. The Management Committee regularly reports to the Board on the financial performance as well as key business affairs.

Appointment of the Directors is decided by the Group’s Nomination Committee. The principal duties of the Nomination Committee include reviewing the Board composition, developing and formulating the relevant procedures for nomination and appointment of directors and ensuring the Board has a balance of adequate expertise, skills, experience and diversity.

The Renumeration Committee from the Group is responsible for the establishment of a formal and transparent procedure for developing the remuneration policies and to determine the specific remuneration packages of all executive directors and senior management. The Remuneration packages is determined by taking into consideration factors such as salaries paid by comparable companies, time commitment, responsibility, employment conditions elsewhere in the Group. Performance-based remuneration is reviewed and approved by reference to the corporate goals and objectives.