Investment Committee 

Members

Mike Jefferies and Susie Staley

The Investment Committee has various duties and responsibilities, including:

• reviewing the investment policy for TOWER shareholder and policyholder funds;
  
• reviewing the risk management policy and statements in respect of investment management, including derivative policy;
  
• considering the establishment, adjustment or deletion of limits and counter-party approvals, and the scope of financial instruments to be used in the management of TOWER’s investments;
  
• reviewing the appointment of external investment managers;
  
• monitoring investment and fund manager performance; and
  
• monitoring compliance with investment policies and client mandates.

The Terms of Reference for the Investment Committee require that the Committee comprises a minimum of two suitably qualified non-executive directors.

The Board appoints the Chairman of theCommittee, who must be a non-executive Director but cannot also be Chairman of the Board.

Following each meeting the Chairman of the Committee provides a report to the Board.

The Chairman is also required to provide an annual report summarising the Committee’s activities, findings, recommendations and results for the past year.