You are the Company Secretary of XYZ Insurance Co. Ltd. The Board of Directors of your company requires you to draw up a policy based on the principles spelt out in the stewardship code for insurers in India.

Policy of XYZ Insurance Co. Ltd. based on the Principles of Stewardship Code for Insurers IRDAI has issued the guidelines on Stewardship Code for Insurers in India in the form of a set of principles to be adopted by them. It requires the insurers to draft a policy as regards their conduct at general meetings of their investee companies to improve their governance. The Policy shall be duly approved by the Board of Directors. As an insurance company, XYZ Insurance Co. Ltd. shall approve a policy in this regard. The Policy of XYZ Insurance Co. Ltd. shall incorporate the following The company discharges its stewardship responsibilities and publicly disclose it. The company's stewardship responsibilities are monitoring and engaging with companies on matters such as strategy, performance, risk, capital structure, and corporate governance, including culture and remuneration. The company manages conflicts of interest in fulfilling its stewardship responsibilities and publicly disclose it. The company identifies and manages conflicts of interest with the aim of taking all reasonable steps to put the interests of their client or beneficiary first. The Company monitors its investee companies. The company regularly monitors its investee companies in respect of its performance, leadership effectiveness, succession planning, corporate governance, reporting and other parameters. The company nominates directors on the board of its investee company for active involvement. The company intervenes in its investee companies. The company intervenes when it has concerns about the investee company's strategy, performance, governance, remuneration or approach to risks, including those that may arise from social and environmental matters. In case of non-resolution of company's concerns, the company escalates the matter. The company collaborates with other institutional investors, where required, to preserve the interests of the policyholders (ultimate investors) and discloses the collaboration. The voting decisions of the company aims to promote the overall growth of the investee companies and, in turn, enhance the value of their investors. The voting policy of the company, voting decisions and the rationale is disclosed on its website. The company reports periodically on its stewardship activities. The company also provides a periodic report to its policyholders of how the company has discharged its responsibilities, in a easily understandable format. But the company do not intend to manage the affairs of the investee company. The company may also at any time decide to sell its holding in the investee company, if it is in the best interest of clients or beneficiaries.