Risk committee

Assisting the Board in its oversight of risk within the Group.

The principal purpose of the committee is to assist the Board in its oversight of risk within the Group, with particular focus on the Group's risk appetite, risk profile and the effectiveness of the Group's Risk Management Framework. We review the risks inherent in both our investment portfolios and in the insurance products we offer our clients.

In addition to the risks inherent in investing and in providing assurance, we review the strength of our capital base and our liquidity position, the level of our operational risk, and the significant ongoing changes to the regulatory framework.

The committee ensures that due diligence appraisals are carried out on strategic or material transactions, and also works with the Remuneration Committee to ensure that risk management is properly considered in setting the Group's Remuneration Policy.

The committee comprises independent non-executive directors.