Committees of the Board and Other CommitteesOther committees

The Management Committee

Structure

The Management Committee meets every month under the chairmanship of the President and Chief Executive Officer who is assisted by co-members comprised of Executive Vice Presidents and some Senior Vice Presidents.

The Investment Committee

Structure

The Investment Committee meets not less than 4 times a year and consists of 6 members under the chairmanship of Mr. Jean-Denis Talon, President of the Board who is assisted by co-members and independent directors Messrs. Yves G. Breton and Pierre Monahan. The following members of management also made up this Committee: the Executive Vice President and Chief Financial Officer, the Chief Investment Officer and the Chief Risk Officer.

Duties and Responsibilities

The Investment Committee is responsible for the following matters:

• Gives advice with regard to applying the investments policy, and recommends any relevant modifications
• Receives and reviews asset allocation and asset/liability matching policies and objectives, as well as the impact of stress tests on asset allocation capital, the asset classes selection and the asset-liability matching
• Receives reports from management on investments risks
• Monitors and assesses the performance of portfolio managers and recommends any changes in such portfolio managers

The Risk Management Committee

Structure

The Risk Management Committee meets 3 times a year under the chairmanship of the Executive Vice President and Chief Financial Officer. The following members of management also made up this Committee: the Chief Risk Officer, the Chief Investment Officer, the Business Continuity Manager, the Local Risk Officers and other Vice Presidents from the Legal Affairs and Compliance, Finance, Actuarial and Reinsurance sectors.

Duties and Responsibilities

The Risk Management committee is responsible for the following matters:

• Helps management identify, understand, evaluate, monitor, mitigate, address and review the significant risks and residual risks after mitigating insurance companies, including strategies and processes to manage those risks
• Reviews the risk profile and the risk management policy, and receives reports on economic capital outputs, ALM reporting, asset concentration data, product approval process, reinsurers’ exposures and business continuity
• Establishes a risk awareness culture that reflects insurance companies’ risk policies and philosophies, and helps management to assess business strategies and plans from a risk perspective