NIA is committed to maintaining high standards of corporate governance and develops its corporate governance practices.
The Company’s Board of Directors (“the Board”) provides strategic direction to the Company leads the Management team in achieving its business objectives and ensures that obligations to shareholders, policyholders and stakeholders are met. The Board assesses the Company’s and the Management’s performance and is responsible for reviewing and approving the business strategy, ensuring financial integrity of the Company is preserved, providing oversight in risk management policies and determining executive officers’ remuneration.
The Chairman of the Board is divided from the CEO and the Chairman is responsible for the leadership and governance of the Board. The Chairman is a non-independent and non-executive member of the Board and has direct access to the Management team of the Company and Group Internal Audit function. The Board has established two management committees; Risk Management Committee and Investment Management Committee to assist the Board in the supervision and governing the operations and business affairs of the Company in accordance with the Board approved Charter. Members of the Committee are appropriately qualified and experienced to discharge their responsibilities.