78 • Housekeeping matters and delivering cost efficiency related to the business growth of the Company • Exploring the possibility of shared services between ARC Agency and ARC Ltd. GOVERNANCE COMMITTEE RESPONSIBILITIES AUDIT & RISK COMMITTEE RESPONSIBILITIES FINANCE & INVESTMENT COMMITTEE RESPONSIBILITIES UNDERWRITING & REINSURANCE COMMITTEE RESPONSIBILITIES • Adoption of the 2020 Annual Audited Financial Statements (IFRS and Statutory) and successful management of the process of designing, overseeing and revising the Company risk mapping and risk appetite framework • Design of the risk register, directed by Deloitte. The process involved the Legal, Underwriting, Finance & Operations departments, and covered topics such as governance risks and market and credit risks • Revised the draft Investment Guidelines 9.0 to allow ARC Ltd. to invest in loans and infrastructure debt (in particular for clean energy infrastructure). Major re-allocations will be approved by the Finance and Investment Committee. • Development of the Risk Management Protocol for non-sovereign business (NSB), learning lessons from the NSB pilot • Tropical cyclone reinsurance optimisation strategy for season 2021/2022 FOCUS AREAS 2022 FOCUS AREAS 2022 FOCUS AREAS 2022 FOCUS AREAS 2022 SAFEGUARD I NG VALUE
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