MAS's executive director Daniel Wang named the new chair of the UNDP convened SIF

Wang succeeds Anna Sweeney, the Bank of England’s former executive director (insurance), who served as chair from December 2020 to 2022.

Wang, who heads the insurance department at the MAS, is also the current chair of the Climate Risk Steering Group (CRSG) at the International Association of Insurance Supervisors (IAIS).

Wang’s new appointment will provide an opportunity to further strengthen the coordination and collaboration between the SIF and IAIS, says MAS.

The MAS’s insurance department oversees and regulates insurance companies and oversees policy formulation for the insurance sector in Singapore.

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“It is a privilege and honour to be given the opportunity to lead the SIF. I look forward to work closely with our members, the UNDP, IAIS and other partners to address sustainability issues affecting the global insurance sector, and where we can help to advance climate action in our collective journey towards net zero,” says Wang.

“In what is a critical period for climate action globally, the SIF continues to add value to its 37 members who are at the cutting edge of the climate action agenda. I am pleased to welcome Daniel Wang as the new SIF chair and congratulate him on his appointment. The UNDP looks forward to supporting him and the membership during his two-year term as they collectively work to advance climate action,” says Marcos Neto, director of the UNDP Sustainable Finance Hub.

“With Daniel Wang now chairing both the SIF and the IAIS CRSG, we are provided a great opportunity to further strengthen the coordination and collaboration between the SIF and IAIS and advance a strong and coordinated supervisory response to the risks from climate change,” says Romain Paserot, acting IAIS secretary general.