Singapore’s Life Insurance Association (LIA)
has said it supports the need for the industry to undergo a regular
review and the objectives of the Financial Advisory Industry Review
(FAIR).
Ravi Menon, managing director of the Monetary
Authority of Singapore, announced the launch of FAIR on 26 March
2012 at the LIA’s 50th anniversary gala dinner.
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Responding to FAIR, an article from the LIA in
The Straits Times quoted Tan Hak Leh, president of the LIA, as
saying: “Our industry prides itself on providing a life-long
protection to our customers and taking a long-sighted view of the
industry.
“We look forward to providing constructive
feedback to the FAIR panel to bring the life insurance industry
forward to the next 50 years and beyond.”
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