Composition

On April 24, 2019, the Finance Committee was comprised of four members: Mr. Ramon de Oliveira (Chairman), Mrs. Doina Palici-Chehab, and Mr. André François-Poncet and Mr. Stefan Lippe.

Three of these members were determined independent by the Board in accordance with the criteria set forth in the Afep-Medef Code.

Principal responsibilities

The principal missions of the Committees are:

  • to examine and issue an opinion on any plan to sell some or all ownership interests held by the Company, or any acquisition or strategic partnership, whatever form they may take, when their immediate or deferred value exceeds the €500 million threshold;
  • to examine and issue an opinion on any sureties, guarantees, endorsements and warrantees in favor of third parties which exceed the delegations of power granted to the Chief Executive Officer by the Board of Directors;
  • to examine and issue an opinion on any of the following:
    - securities issuance giving a claim, whether directly or indirectly, to the Company's share capital,
    - share repurchase programs proposed to the Ordinary Shareholders' Meeting,
    - financing operations that could substantially change the Company's financial structure;
  • to examine any plan to perform a financial operation of significant size for the AXA Group;
  • to examine any subject relating to the financial management of the AXA Group including:
    - the policy on financial risk management,
    - the liquidity and financing of the Group,
    - solvency and capital management;
  • to examine the impact of the main orientations and limits of Asset-Liability Management policy on the Group's capital and solvency; and
  • to review the risk appetite framework developed by the Executive Management for financial, insurance and operational exposures.