2009-10 - Aditya Birla Nuvo, Ltd

BIRLA SUN LIFE INSURANCE COMPANY LIMITED
Para Guidelines Compliance status
RMC shall:
• Assist Board in operating risk
management system by specialized
analyses and review
• Report to Board on risk exposures and
actions to manage such exposures
Ensured
• Advise Board on risk management
decisions relating to strategies and
operational matters (corporate strategy,
mergers and acquisitions and related
matters)
7.4 Asset Liability Management Committee
(ALMC) - Mandatory
Asset Liability Management Committee
details are captured in Section A of this
Corporate Governance Report.
ALMC lays down framework to ensure
Company invest in a manner which enable
it to meet cash flow needs and capital
requirements, at a future date.
Responsibilities of ALMC are:
• Setting the insurer’s risk/reward
objectives
• Quantifying the level of risk exposure
and assessing the expected rewards and
cost
• Formulating and implementing optimal
ALM strategies (product and enterprise
level)
• Laying down the risk tolerance limits.
• Monitoring risk exposures (at periodic
intervals) and revising ALM strategies
• Placement of ALM information before
Board at regular intervals
7.5 Policyholders’ Protection Committee (PPC)
- Mandatory
Ensured
Ensured
Policyholders’Protection Committee details
are captured in Section A of this Corporate
Governance Report.
PPC shall report directly to the Board and
shall ensure that Policyholders have access
to redressal mechanisms and shall draft
policies and procedure for dealing with
customers and quick resolution of disputes
Ensured
Responsibilities of PPC are:
• Formation of policies for addressing
complaints and grievances of policyholders
Ensured
• Compliance of statutory requirements
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