Corporate Governance in Insurance Regulations
With Goethe from Grey to Green to Gold?
Dr. Monica Mächler
Taking into account the growth in corporate governance requirements in insurance regulation around the globe, Monica Mächler presented at first their key features in terms of regulatory techniques, implementation by companies and the supervisory process. She discussed then open issues such as the relation to corporate law and to stock exchange requirements, varying perspectives of legal entities and groups as well as uniformity versus company specificity. In addition, she raised the questions of efficiency and effectiveness of the requirements, their nature as principles or rules and their harmonsation potential.
Dr. Monica Mächler has been a member of the Supervisory Board of Directors of Deutsche Börse AG since May 2012 and of Zurich Insurance Group Ltd. since April 2013. She regularly speaks, teaches and writes on financial market regulation and international law including the business impact thereof.
Mrs Mächler served as Vice Chair of the Board of Directors to the integrated Swiss Financial Market Supervisory Authority (FINMA) from 2009 to September 2012, after having been the Director of the Swiss Federal Office of Private Insurance from 2007 to 2008. From 2010 to 2012 Monica Mächler chaired the Technical Committee of the International Association of Insurance Supervisors IAIS.
From 1999 to 2006 Monica Mächler assumed the role of Group General Counsel and Company Secretary of Zurich Insurance Group which she had joined in 1990. During the years 1985 to 1990 she was in private practice specializing in banking and international business law after earning her JD at the University of Zurich’s Law School and having been admitted to the Zurich Bar.