New York – Mr. Daniel Wang, Executive Director – Insurance, Monetary Authority of Singapore (MAS), has been named the new Chair of the UNDP convened Sustainable Insurance Forum (SIF). Mr. Wang succeeds Ms. Anna Sweeney, former Executive Director – Insurance, at the Bank of England, who served as Chair from December 2020 to December 2022.
Mr. Daniel Wang heads the Insurance Department at the Monetary Authority of Singapore (MAS). The Insurance Department supervises and regulates insurance companies and oversees policy formulation for the insurance sector in Singapore. Mr. Wang is also Chair of the Climate Risk Steering Group (CRSG) at the International Association of Insurance Supervisors (IAIS).
Commenting on taking up his new role as Chair, Mr. Wang said: “It is a privilege and honor 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”.
Mr. Marcos Neto, Director of the UNDP Sustainable Finance Hub, noted: “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”.
As co-founder and strategic partner to the SIF, the IAIS plays a key role in the ongoing work of the UNDP SIF. Welcoming the appointment, Mr. Romain Paserot, Acting IAIS Secretary General, said: “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”.