Page 52 - Continental Reinsurance 2022 Annual Report

50 Corporate Governance Report

To review the appropriateness and completeness of the Company's Statutory Accounts and its other published financial
statements.
To oversee the independence of the External Auditors.
To receive a summary of whistleblowing cases reported and the result of the investigation.

The composition and record of attendance of the meeting of the Board Audit & Compliance Committee during the year are
presented as follows:

MEMBERS MEETINGS

28/01/2022 22 /04/2022 22/07/2022 2 6/10 /2022 09 /12/2022

MR. IAN TOFIELD (CHAIRMAN) ü ü ü X1 X2
MR. JUNIOR NGULUBE ü ü X3 X4
MR. LAWRENCE M. NAZARE * ü ü ü ü ü
MRS. CHRISTABEL ONYEJEKWE* X6 X7
MR. PAUL KOKORICHA* ü X7 ü ü ü
MR. EMMANUEL BRULE X5 ü ü ü ü
MS. SEUN ONI * ü X11 X12 X8 X9
MR. QUINTEN MATTHEW * X14 X15 ü ü
MR. STEVE IWENJORA ü X17 X18
X10 ü ü
X13 ü ü
X16

Notes

X1 – X2 Mr. Ian Tofield resigned from the company on July 29, 2022
X3– X18 The Board Committees were reconstituted at the board meeting of July 29, 2022, and the newly constituted

Committee members had their first meeting in October 2022
*Current members of the committee.

5.2 Enterprise Risk Management and Underwriting Committee
The primary function of the committee is to review the strategy and provide oversight of the underwriting operations of the
Company and the integrity and effectiveness of the Company's enterprise risk management framework.

The Terms of Reference of the Committee include:
Review, approve and monitor the Company's overall risk strategy and appetite.
Provide oversight of the Company's framework for the assessment and management of risk.
Review the adequacy and effectiveness of risk management function and controls in the company.
Review and approve periodically the level of risk assumed by the Company in its underwriting, investment and operational
activities and the methods by which such risk is measured.
Review, approve and monitor the Company's key risk tolerances and review reports on any breaches of key risk tolerances and
the adequacy of the proposed action.
Review the Company's forward-looking risk and solvency assessment and general capital management.
Review the Company's procedures to design, validate and use risk models for business purposes
Ensures that the Company maintains appropriate underwriting policies, guidelines, and authorities and monitor compliance
with the policies and guidelines.
Oversees underwriting performance, monitor, and assess the potential impact of emerging risks.
Formulate geographical expansion of the Company.
Assess the effectiveness of the company's Retrocession Programme and the adequacy of Technical Reserves.
The Committee together with the Company's legal adviser will review any legal matters that could have a significant impact on
the Company's business.