Singapore Reinsurance Corporation Limited announced that The Insurance (Corporate Governance) Regulations 2013 (CG Regulations) requires that the Board must comprise at least one-third of directors who are independent directors as defined in the CG Regulations by 2016. A director who has served on the board for a continuous period of 9 years or longer would not come within the definition of an independent director under the CG Regulations. Accordingly, to ensure Singapore Reinsurance Corporation Limited's compliance with the CG Regulations, Mr. Keith Tay, Mr. Ong Choo Eng and Mr. Li Weiguo have resigned as directors of the company effective December 31, 2015.