Corporate Governance | Life Insurance

CORPORATE GOVERNANCE

Constitution of the Company

Constitution of the Company

Board of Directors Charter

Board of Directors Charter

Anti-Bribery and Corruption Policy

Anti-Bribery and Corruption Policy

Whistleblowing Programme

Whistleblowing Programme

Details on Board Composition
Board of Directors

Board Committees Composition (as at 31 December 2020)

Board Committee	Composition
Board Audit Committee	Mr David Siew (Chairman) Mr Ng Hon Soon Mr Ou Shian Waei
Board Nominations and Remuneration Committee	Mr Tan Yam Pin (Chairman) Mr Norman Ip Mr Koh Poh Tiong
Board Risk Management Committee	Mr Ng Hon Soon (Chairman) Mr Norman Ip Mr Ou Shian Waei

Appointments, Resignations and Removals of Directors during the Financial Year 2020 (as at 31 December 2020)

Mr Ou Shian Waei (appointed on 15 January 2020)

Training and Education Provided to the Board during the Financial Year 2020 (as at 31 December 2020)

The Company has in place an In-House Orientation Programme for newly appointed Directors to familiarize themselves with its operations. The Directors are provided with the opportunity for relevant training programmes on an ongoing basis in areas relating to financial industry for them to keep abreast with the latest developments in the industry including the Financial Institutions Directors’ Education (“FIDE”) Core Programme which promotes high-impact Boards by strengthening Board competencies in dealing with corporate governance, risk management and strategic issues faced by the financial services industry.

During the financial year, the Directors, collectively or on their own, attended seminars, courses and briefing organized by professional bodies and regulatory authorities as well as those conducted in-house, among others as follows:

· BNM-FIDE FORUM Annual Dialogue with Governor of Bank Negara Malaysia.

· Board Educational Series:

Ø Anti-Money Laundering & Countering Financing of Terrorism - Regulatory Development and Internal Process

Ø Cyber Security in Year 2020

Ø Cyber Security Road Map Update and Understanding of Functions Implemented

Ø Guidelines on Adequate Procedures Gap Analysis Report and Corruption Risk Management

Ø Great Eastern Life Malaysia - 3-Year Digital Transformation Initiatives

Ø Implementation of MFRS 17 Insurance Contracts: Technical Accounting Papers (Batch 3)

Ø Implementation of MFRS 17 Insurance Contracts: Technical Accounting Papers (Batch 4)

Ø Implementation of MFRS 17 Insurance Contracts: Technical Accounting Papers (Batch 5)

Ø Sustainability - Getting the Board on Board

Ø Sustainability - The Future in Question: Economic Cycles, Technology and Cyber Security

· FIDE Core Programme: Module B

· FIDE Simulation Exercise

· Webinar:

Ø Challenging Times: What Role Must the Board Play?

Ø Climate Action: Mission Impossible? Taking Action on Climate Change

Ø Climate Action: The Board's Leadership in Greening the Financial Sector

Ø Digital Banking: Why Does it Matter?

Ø Digital Financial Institutions Series: Fidor’s Experience

Ø Green Fintech: Ping An's Use of Technology to Support Green Finance Objectives

Ø Regulation and Board Intervention

Ø Risks: A Fresh Look from the Board's Perspective

Number of Meetings convened by Board and Board Committees in Financial Year 2020 (as at 31 December 2020)

Board (including Board Retreat)	11
Board Nominations and Remuneration Committee	7
Board Audit Committee	10⁽¹⁾
Board Risk Management Committee	5

⁽¹⁾ The Board Audit Committee Meetings included 2 Joint Board Audit Committee - Board Risk Management Committee Meetings