Corporate Governance

Article of Association

I. Executive Committee

The Executive Committee provides recommendations to the board with regard to different subjects such as strategic and business plans. The board may delegate its authorities and responsibilities to the Executive committee.

II. Investment Committee

The Investment Committee is responsible for overseeing the management of investment portfolio of the company, establishment and execution of the investment policies.

III. Nomination and Remuneration Committee

The Nomination and Remuneration Committee assumes several responsibilities including recommendation to the board of nominees for membership based on adopted policies and criteria, annual review of board membership requirement, examine the board structure and recommend the proposed changes, ensure independence of board members and non-existence of conflict of interests, setup clear policies for compensation of board members and senior executives.

IV. Risk and Underwriting Committee

The Risk and Underwriting and Committee is appointed by the Board to assist the Board in fulfilling its overall responsibility to the shareholders and other stakeholders by overseeing the Risk Management and underwriting activities of the Company on behalf of the Board. Key responsibilities include designing the risk management strategy in consistence with the Company's commitments to shareholders and regulatory requirements, approving underwriting policies and guidelines, as well as defining the Company's risk tolerance and risk appetite.

V. Audit Committee

The Audit Committee implements the board's recommendations with regard to supervision of financial reports and assessment of adequacy of internal and external audit processes. The Audit Committee assesses and oversees compliance management processes and internal controls of the company.