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Corporate Governance

The Board has constituted various committees in compliance with statutory requirements and voluntarily to ensure focused attention on specific areas. Each committee operates under a defined charter:
Audit Committee

The Audit Committee has been constituted in accordance with the Section 177 of the Companies Act, 2013 and Regulation 5 of the IRDAI (Corporate Governance for Insurers) Regulations, 2024 read with Clause 4.1 of the Master Circular on Corporate Governance for Insurers, 2024. The Committee assists the Board in overseeing the accuracy, integrity and transparency of the Company’s financial statements, legal and regulatory compliance, auditor independence and performance, and acquisitions and investments made by the Company.

Composition:

Dr. Nachiket Madhusudan Mor Chairperson and Independent Director
Mr. Ankit Agarwal Member and Non-Executive Director
Ms. Rituparna Chakraborty Member and Independent Director
Nomination and Remuneration Committee

The Nomination and Remuneration Committee has been constituted in accordance with the Section 178 of the Companies Act, 2013 and Regulation 5 of the IRDAI (Corporate Governance for Insurers) Regulations, 2024 read with Clause 4.5 of the Master Circular on Corporate Governance for Insurers, 2024. The Committee assists the Board in matters relating to the appointment, remuneration, performance evaluation, succession planning and leadership development of Directors, Key Managerial Personnel and Senior Management, and also oversees Board diversity and corporate governance, in accordance with applicable law and the policies of the Company.

Composition:

Ms. Rituparna Chakraborty Chairperson and Independent Director
Dr. Nachiket Madhusudan Mor Member and Independent Director
Ms. Alamelu TL Member and Independent Director
Risk Management Committee

The Risk Management Committee has been constituted in accordance with Regulation 5 of the IRDAI (Corporate Governance for Insurers) Regulations, 2024, read with Clause 4.3 of the Master Circular on Corporate Governance for Insurers, 2024. The Committee assists the Board in the implementation and oversight of the Company’s risk management system and risk management strategy, including the identification, assessment, measurement, monitoring, mitigation and reporting of risks across the Company.

Composition:

Ms. Rituparna Chakraborty Chairperson and Independent Director
Dr. Nachiket Madhusudan Mor Member and Independent Director
Ms. Alamelu TL Member and Independent Director
Mr. Vaibhav Goyal Member and Managing Director & CEO
Mr. Shivam Tewari Member and Chief Risk Officer
Mr. Shantanu Gaur Member and Appointed Actuary
Mr. Deepak Kumar Hota Member and Chief Financial Officer
Investment Committee

The Investment Committee has been constituted in accordance with Regulation 5 of the IRDAI (Corporate Governance for Insurers) Regulations, 2024, read with Clause 4.2 of the Master Circular on Corporate Governance for Insurers, 2024. The Committee assists the Board in overseeing the investment operations of the Company and is responsible for recommending the Investment Policy and laying down the operational framework for investment activities, with due regard to liquidity requirements, prudential regulatory norms, risk management and mitigation strategies, commensurate yield on investments and protection of policyholders’ funds.

Composition:

Mr. Ankit Agarwal Chairperson and Non-Executive  Director
Ms. Alamelu TL Member and Independent Director
Mr. Vaibhav Goyal Member and Managing Director & CEO
Mr. Sunny Srichand Janyani Member and Chief Investment Officer
Mr. Shantanu Gaur Member and Appointed Actuary
Mr. Deepak Kumar Hota Member and Chief Financial Officer
Mr. Shivam Tewari Member and Chief Risk Officer
Policyholder Protection, Grievance Redressal and Claims Monitoring Committee

The Policyholder Protection, Grievance Redressal and Claims Monitoring Committee has been constituted in accordance with Regulation 5 of the IRDAI (Corporate Governance for Insurers) Regulations, 2024, read with Clause 4.4 of the Master Circular on Corporate Governance for Insurers, 2024. The Committee assists the Board in establishing and overseeing systems and processes for protection of the interests of policyholders, creation of insurance awareness, fair treatment of customers, effective grievance redressal and monitoring of claims settlement processes. 

Composition:

Ms. Rituparna Chakraborty Chairperson and Independent Director
Ms. Alamelu TL Member and Independent Director
Mr. Madan Bezbaruah Expert/ Representative of Customers from Delhi 
Corporate Social Responsibility Committee

The Corporate Social Responsibility Committee has been constituted in accordance with the Section 135 of the Companies Act, 2013 and Regulation 5 of the IRDAI (Corporate Governance for Insurers) Regulations, 2024, read with Clause 4.6 of the Master Circular on Corporate Governance for Insurers, 2024. The Committee assists the Board in formulating, reviewing and monitoring the Corporate Social Responsibility Policy of the Company and recommends CSR activities, projects and programmes to be undertaken by the Company, including the amount of expenditure to be incurred thereon, in accordance with Schedule VII of the Companies Act, 2013, applicable CSR Rules and the policies of the Company. 

Composition:

Ms. Rituparna Chakraborty Chairperson and Independent Director
Ms. Alamelu TL Member and Independent Director
Mr. Vaibhav Goyal Member and Managing Director & CEO
Finance Committee

The Finance Committee has been constituted on a voluntary basis to assist the Board and the Company in matters relating to the day-to-day operations and financial affairs of the Company. The Committee discharges such roles and responsibilities as may be delegated by the Board or prescribed under applicable law from time to time, and shall periodically update the Board on the decisions taken by it. 

Composition:

Mr. Ankit Agarwal Chairperson and Non-Executive Director
Mr. Vaibhav Goyal Member and Managing Director & CEO