The Board is, after the General Meeting of Shareholders, Solid Försäkring’s highest decision-making body. The tasks of the Board are stated in the Swedish Companies Act, Solid Försäkring’s Articles of Association and the Code. The Code will apply for the company after the company’s shares have been admitted to trading on Nasdaq Stockholm. The Board’s work is also governed by written rules of procedure that are adopted every year. The rules of procedure govern such matters as the delegation of tasks and responsibilities among the Board, the Chairman of the Board and the CEO. The Board also establishing instructions for the Board’s committees, the CEO and for financial reporting.
The Board is responsible for Solid Försäkring’s organisation and administration of the company’s affairs, which includes responsibility for the preparation of overall, long-term strategies and targets, budget and business plans, establishing guidelines to ensure that Solid Försäkring’s operations create long-term value, the examination and approval of the accounts, decision-making in matters concerning investments and sales, capital structure and the dividend policy, the development and adoption of central policies, ensuring that the control systems are in place for monitoring policies and compliance with guidelines, ensuring that systems are in place for monitoring and controlling Solid Försäkring’s operations and risks, significant changes in the company’s organisation and operations, designing and determining salary for Solid Försäkring’s CEO and other benefits for the company’s CEO and other senior executives in accordance with the guidelines for remuneration of senior executives adopted by the General Meeting.
Normally, Board members are appointed by the Annual General Meeting for the period until the close of the next Annual General Meeting. In accordance with the company’s Articles of Association, the number of Board members that are elected by the General Meeting of Shareholders may not be fewer than three and may not exceed five without deputies.
In accordance with the Code, the Chairman of the Board is elected by the General Meeting of Shareholders and is to ensure that the work of the Board is managed efficiently and that the Board fulfils its obligations.
The Board meets in accordance with a predetermined annual schedule. In addition to these meetings, additional Board meetings may be called to manage issues that cannot be postponed until the date of the next General Meeting. In addition to Board meetings, the Chairman of the Board and the CEO maintain continuous dialogue concerning management of the company.