IAG Board Committees

IAG Board

IAG-Board-Charter-Approved-210520.pdf

Standards for assessing a Director as Independent (72.22 KB)

Audit Committee

Chair: Tom Pockett

Members: Duncan Boyle, Sheila McGregor, Helen Nugent AO  

Responsibilities
The Audit Committee helps the Board fulfil its statutory and fiduciary responsibilities by monitoring:

• the integrity of external and internal financial reporting, including compliance with applicable laws and regulations;
• tax and financial risks;
• that Directors and management are provided with high quality financial and non-financial information, and
• the independence of the Auditor, Group General Manager Internal Audit and Global External Peer Review Actuary.

Charter

Audit Committee Charter (108.25 KB)

Nomination Committee

Chair: Elizabeth Bryan AM

Members: All of IAG's Non-Executive Directors sit on the Nomination Committee - Simon Allen, Duncan Boyle, Peter Harmer, Sheila McGregor, Jon Nicholson, Helen Nugent AO, Tom Pockett, George Savvides AM and Michelle Tredenick

Responsibilities
The Nomination Committee assists the Board in fulfilling its statutory and fiduciary responsibilities by ensuring the Board:

• employs appropriate processes to address Board succession issues; and
• appoints Directors that allow the Board to have the appropriate balance of skills , knowledge, experience, independence, and diversity to enable it to discharge its duties and responsibilities effectively.

Charter

Nomination Committee Charter (97.01 KB)

People and Remuneration Committee

Chair: Jon Nicholson 

Members:  Simon Allen, Duncan Boyle, George Savvides and Michelle Tredenick

Responsibilities
The People and Remuneration Committee helps the Board fulfil its responsibilities to shareholders by ensuring that the Board comprises people who have the necessary range of skills, expertise and experience to enable it to discharge its responsibilities effectively. It also:

• provides assurance to the Board on the effectiveness and integrity of, and compliance with, IAG's remuneration policies and practices;
• assesses the effectiveness of IAG's remuneration policy and compliance with regulatory requirements on remuneration; and
• monitors the development, implementation and reporting of IAG's business sustainability strategy.

Charter

PARC Charter (120.93 KB)

Risk Committee

Chair: Duncan Boyle

Members: All of IAG's Non-Executive Directors sit on the Risk Committee - Simon Allen, Elizabeth Bryan, Duncan Boyle, Jon Nicholson, Sheila McGregor, Helen Nugent AO, Tom Pockett, George Savvide AM and Michelle Tredenick  

Responsibilities
The Risk Committee assists the boards of IAG Limited and its subsidiaries and related entities in fulfilling their risk management and compliance responsibilities including:

• oversight of material risks to which IAG is exposed, and oversight of risk management and control systems for adequacy and effectiveness;
• the Group’s compliance with the Group Risk Management Strategy, Group Reinsurance Risk Management Strategy and other governance and risk related Group Policies identified in the Group Risk Management Strategy;
• effective operation of compliance systems considering the requirements of applicable laws, regulations, industry codes, listing authorities’ rules and organisational policies, and frameworks;
• oversight of the Group’s risk management and governance frameworks; and
• safeguarding the independence of the Group Chief Risk Officer (CRO) and Chief Actuary and the risk management and compliance functions.

Charter

Risk Committee Charter (133.99 KB)