Newsletter June 2011: OECD revises insurer governance guidelines

Revised guidelines on insurer governance released in May seek to reflect the lessons learned from the global financial crisis, including the need for a board with the necessary leadership and expertise. The guidelines*, which are non-binding, were issued by the Organisation for Economic Cooperation and Development (OECD), the Paris-based ‘club’ for the world’s most advanced economies. High-standard corporate governance is a key component of the regulatory and supervisory framework, the OECD said.