OBS_VALUE: No licensed insurer shall appoint a person as its key executive person unless — (a) the insurer has satisfied the Monetary Authority of Singapore (MAS)  that the person is a fit and proper person to be so appointed; and  (b) the insurer has obtained the approval of the MAS to so appoint the person.  The MAS may — (a) grant its approval, with or without conditions to a licensed insurer to appoint a key executive person; and (b) at any time add to, vary or revoke any condition of approval referred to above or impose any conditions thereto.