Liberty Insurance Pte Ltd (Liberty Insurance or the Company) is a licensed general insurer regulated by the Monetary Authority of Singapore (MAS) and a member of the General Insurance Association of Singapore (GIAS). In Year 2018, Liberty Insurance achieved a gross written premium (Singapore Insurance Fund) of S$156 million and is ranked 7^th largest insurer in the general insurance industry in Singapore.

Liberty Insurance is a 100% owned subsidiary of Liberty Mutual Group Inc. Headquartered in Boston, Liberty Mutual Group is a diversified global insurer and ranks 68^th on the Fortune 100 list of largest corporations in the U.S. based on 2018 revenue. The Financial Ratings are Standard & Poor’s ‘A’ (Strong); A.M. Best Co ‘A’ (Excellent) and Moody’s A2 (Good). For more information regarding Liberty Mutual Group please visit www.libertymutual.com.

Liberty Insurance offers a wide range of personal and commercial insurance products including property, liability, motor, home, personal accident, medical, property, work injury compensation, bonds, employee benefits and marine cargo.

Our Company business objective is to achieve profitable growth and remain among the top ten general insurance companies in Singapore. We have earned a reputation for keeping our promises, consistency in underwriting philosophy and doing the right thing. We will continue doing so to remain the insurer of choice by our intermediaries and our customers.

We think and look ahead on behalf of our policyholders, and play an integral role in helping people live safer, more secure lives.

Liberty Insurance is committed to maintaining high standards of corporate governance and develops its corporate governance practices in accordance with the principles set out in the guidelines issued by the MAS.

Drawing on the resources and experience of Liberty Mutual Group, the Company’s Board of Directors (“the Board”) provides strategic direction to the Company leads the Management team in achieving its business objectives and ensures that obligations to shareholders, policyholders and stakeholders are met. The Board assesses the Company’s and the Management’s performance and is responsible for reviewing and approving the business strategy, ensuring financial integrity of the Company is preserved, providing oversight in risk management policies and determining executive officers’ remuneration.

The Chairman of the Board is divided from the CEO and the Chairman is responsible for the leadership and governance of the Board. The Chairman is an independent and non-executive member of the Board and has direct access to the Management team of the Company and Group Internal Audit function. The Board has established two management committees; Risk Management Committee and Investment Management Committee to assist the Board in the supervision and governing the operations and business affairs of the Company in accordance with the Board approved Charter. Members of the Committee are appropriately qualified and experienced to discharge their responsibilities.

Liberty Insurance places high importance on risk management and we seek to manage our risk exposure within the risk appetite and tolerance limit to achieve our business objective. The Risk Management Strategy (RMS) is designed to support the business in assessing, understanding and managing risks in order to achieve business objectives and optimal return.Key objectives of the RMS are:

• Ensuring risk is considered in the formulation and implementation of business strategies
• Identification of business activity where risk may arise and effectively manage those exposures to a level consistent with the Company's appetite
• Establishing the risk appetite and tolerance limits and describing its fundamental importance and relationship to the formulation of business strategies 
• Detailing the methodology and activities designed to identify, measure, manage, monitor and report risks; and
• Ensuring timely and relevant risk management information is provided to management to actively monitor and manage risk in alignment with the Company’s risk appetite

The Company’s Risk Management Policy defines the key risk principles with regard to risk management in the company and also the categories of risk faced by the Company.

In accordance with its definition and in order for the Company to identify and manage its risks effectively, the Company uses the following Risk Categorisation Groups and Definitions.

Further information on the management of the above mentioned risks are disclosed in the Audited Annual Accounts.

The Company has instituted confidential helplines to support the Company’s compliance policy. Employees of the Company may contact Liberty Singapore Compliance helpline or Liberty Group Compliance helpline on confidential basis to seek advice or raise compliance concerns.

The Company monitors risk limits based on financial and non-financial impact on earnings volatility, liquidity and capital requirements. Given the developing nature of the environment in which the Company operates, the Company’s risk management policy will continue to evolve and adapt.