Finance and Risk Committee Charter

Finance and Risk Committee Charter

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Committee Members

Debra J. Perry
Paget L. Alves
Braxton Carter
Jean-Paul L. Montupet
Ogi Redzic

A. PURPOSE

The Finance and Risk Committee (the “Committee”) shall assist the Board of Directors (the “Board”) of Assurant, Inc. (the “Company”), in fulfilling its responsibilities by:

  1. Reviewing policies and strategies for achieving Finance objectives and reviewing outcomes. “Finance” means the Company’s capital and liquidity management.

  2. Reviewing policies and strategies for achieving Investment objectives and reviewing outcomes. “Investment” means the investing of the Company’s assets for investment return, including the purchase, sale and management of bonds, mortgages, investment real estate, and such other investment instruments as the Company may consider or utilize.

  3. Acting as the focus committee of the Board for oversight of the Company’s enterprise risk management (“ERM”) activities in conjunction with the Audit Committee and its risk management responsibilities.

B. STRUCTURE AND OPERATIONS

  1. Composition, Appointment and Removal

    The Committee shall be comprised of three or more members of the Board. The members of the Committee shall be appointed by the Board upon the recommendation of the Nominating and Corporate Governance Committee and shall serve until such member’s successor is duly qualified and elected or until such member’s earlier resignation or removal. The members of the Committee may be removed, with or without cause, by a majority vote of the Board. Each member of the Committee shall be a director who is determined by the Board to be “independent” under the rules of the New York Stock Exchange and comply with the Company’s corporate governance guidelines.

  2. Chair

    The Chair of the Committee shall be elected by the Board based on the recommendation of the Nominating and Corporate Governance Committee. The Chair will chair all Committee meetings and set the agendas.

  3. Delegation of Responsibilities

    In fulfilling its responsibilities, the Committee shall be entitled to delegate any or all of its responsibilities to a subcommittee of the Committee.

C. MEETINGS

The Committee shall meet at least four times annually, or more frequently as circumstances dictate. The Chair of the Board or any member of the Committee may call meetings of the Committee. At any meeting of the Committee, the presence of a majority of its members then in office shall constitute a quorum for the transaction of business; and the act of a majority of its members present at a meeting at which a quorum is present shall be the act of the Committee. Committee members may attend meetings in person, telephonically, virtually (via video conference), or via similar communications arrangements that enable all persons participating in the meeting to hear each other. The Committee may also take action by unanimous written consent. Minutes of all meetings of the Committee shall be kept. The Committee may invite to its meetings any director, member of management of the Company and such other persons as it deems appropriate in order to carry out its responsibilities.

D. ROLES AND RESPONSIBILTIES

The following functions shall be the common recurring activities of the Committee in carrying out its purpose as outlined in this Charter. These functions should serve as a guide with the understanding that the Committee may carry out additional functions and adopt additional policies and procedures as may be appropriate in light of changing business, legislative, regulatory, legal or other conditions. The Committee shall also carry out any other responsibilities and duties delegated to it by the Board from time to time related to the purposes of the Committee outlined in this Charter.

  1. The Committee shall review the Finance policies and strategies used by the Company to achieve its objectives, the performance of such policies and strategies with respect to the Company’s objectives and the risks related thereto. The Committee shall oversee the Company’s capital and liquidity management in accordance with the Company’s Capital Policy. As part of these responsibilities, the Committee shall, among other things: (a) annually review and recommend to the Board for its approval the Company’s Capital Policy and Capital Plan; (b) review and recommend to the Board for its approval borrowing arrangements as provided for in the Capital Policy; and (c) review and recommend to the Board for its approval capital stock issuances, capital stock dividends and the aggregate amount of capital stock repurchases.

  2. The Committee shall review the Investment policies and strategies used by the Company to achieve its objectives, the performance of such policies and strategies with respect to the Company’s objectives and the risks related thereto. The Committee shall review policies and strategies pertinent to all investment activities, including asset/liability management, portfolio credit quality, liquidity, and hedging activities. The Committee shall annually review and approve the Operating Policy and Procedures of Assurant Asset Management.

  3. In conjunction with the Audit Committee, the Committee shall act as the focus committee of the Board for, and coordinate with the Audit Committee with respect to, oversight of the Company’s ERM activities. The Committee will review and discuss with management:

    1. the integrity and adequacy of the risk management and risk mitigation strategies of the Company;
    2. the Company’s identification, assessment and reporting of existing and emerging material risks by reviewing the metrics, assumptions and methodologies used by management to quantify risk; and
    3. the Company’s ERM practices and policies, including, but not limited to: (i) the Company’s risk management framework; (ii) the Company’s risk appetite; (iii) the Company’s risk governance structure; (iv) the Company’s risk limits; (v) the Company’s risk models; and (vi) the effectiveness of the risk management procedures in supporting the Company’s business strategy.

    The Committee shall communicate, as necessary, with the other committees of the Board with respect to the risk assessment or risk oversight functions performed by such other committees.

  4. Other Responsibilities
    1. The Committee shall report regularly to the Board (i) following each meeting of the Committee, (ii) with respect to such other matters as are relevant to the Committee’s fulfillment of its responsibilities and (iii) with respect to such recommendations as the Committee may deem appropriate. Reports to the Board may take the form of an oral report by the Chair of the Committee or any other member of the Committee designated by the Chair of the Committee to make such report.
    2. The Committee, in discharging its role, is empowered to study or investigate any matter of interest or concern that the Committee deems necessary or appropriate. In this regard, the Committee shall have the authority to retain outside legal, accounting or other advisors for this purpose, including the authority to approve the fees payable to such advisors and any other terms of retention.
    3. The Committee shall review and reassess, at least annually, the adequacy of this Charter and recommend to the Nominating and Corporate Governance Committee and to the Board any improvements to this Charter that the Committee considers necessary or advisable. In addition, the Committee shall review and evaluate, at least annually, the performance of the Committee and its members, including by reviewing the compliance of the Committee with this Charter.

Updated as of November 10, 2021


Investor Contact

Suzanne Shepherd

Senior Vice President, Investor Relations and Sustainability

55 Broadway, Suite 2901

New York, NY 10006

212-859-7062

Investor.Relations@assurant.com

Sean Moshier

Vice President, Investor Relations

55 Broadway, Suite 2901

New York, NY 10006

212-859-5831

Investor.Relations@assurant.com