FSC Convened a Colloquium for Chief Internal Auditors of Insurance-related Companies on October 26, 2021
In order to strengthen the communication with insurance-related companies and associations as well as improve the effectiveness of internal audit mechanisms, the FSC held a colloquium for chief internal auditors of 45 life insurance companies, non-life insurance companies and reinsurance companies as well as the life insurance association and non-life insurance association on Oct. 26, 2021.
The session topics included the primary examination findings for senior financial consumer protection, the introduction of “Principles for Effective Financial Examination” , recent regulation amendments and supervision focuses, and the importance of corporate integrity as well as the shared experiences on how to make and follow up the improvements of examination findings by 2 insurance companies.
During the meeting, the FSC exchanged a wide range of opinions on topics, including recent supervisory issues and critical examination matters with all participants. By two-way communication, it allowed financial institutions to gain a better understanding about the supervisory concerns and the examination focuses.