|
This Code has been crafted pursuant to Insurance Commission Circular Letter No. 13-2002, which declares that it is the “national policy to institute corporate governance reforms in order to achieve policyholder and market investor confidence; sustain the growth of the insurance industry, thereby contributing to country’s economic well-being; this Code of Corporate Governance is hereby promulgated for adoption and compliance by all insurance companies and intermediaries authorized to do business in the Philippines.”
The Code aims at defining the responsibilities and accountabilities of the Board of Directors and Officers of the National Reinsurance Corporation of the Philippines (hereinafter referred to as the Company or Corporation). It is the primary source of guidance on all aspects of governance including statutory guidance under which the Company operates, and sets the rules governing Board meetings. The Code is designed to be an active, flexible and practical document; thus, some information may be duplicated between certain sections. This is to make changes in the Code easier whenever some sections are modified, amended, revised or updated as the need arises.
|
 |
