Page 83 - IC46 addendum
P. 83
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Committee which shall consist of a minimum
of two non-executive directors, the CEO, chief
of Finance, Chief of Investment Division and
the appointed Actuary.
b. Every insurer shall draw up , annually an
Investment policy and place the same before
the board of Directors for approval.
c. The investment policy as approved by the
board shall be implemented by the investment
committee , which shall keep the board
informed about its activities and fund
performance.
d. The board shall review the investment policy
and its implementation on a half yearly basis
or at such short interval as it may decide and
make such modification to the investment
policy as is necessary to bring it in line with
investment provisions laid down in the
insurance act and in Investment regulations.
e. The details of IP or its review as periodically
decided by the board shall be made available
to the concurrent or internal auditor. The
auditor shall comment on such review and its
impact on investment operations.
f. All of the above.
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