AMICE comments on the revised set of OECD Guidelines on Insurer Governance
08 February 2010
As general remarks we note that the major part of the OECD guidelines tackle the governance of all insurance companies and primarily the PLCs but also dedicates a separate chapter to mutual insurers. The report does not however mention cooperative insurers which are less numerous in Europe but are very present on the markets of other parts of the world (North and South America, Japan, etc.) We would therefore like to suggest that the OECD look into their governance practices which are more congruent with the mutual principles than the public limited companies.
Additionally, we think the OECD revised set of guidelines are sufficiently detailed and thus the level of granularity should not be developed any further.
© AMICE - Association of Mutual Insurers and Insurance Cooperatives in Europe
