China Pacific Insurance (Group) Co., Ltd. recently issued the Terms of Reference for its Nomination and Remuneration Committee. The document outlines the committee’s responsibilities, composition, and procedural rules, focusing on the formulation and implementation of performance appraisals and remuneration policies for directors and senior management.

According to the announcement, the committee will propose appraisal criteria, manage remuneration review and performance evaluations, and make recommendations to the board of directors regarding remuneration packages, share incentive plans, and other related matters. The committee will also handle candidates’ selection procedures and succession planning, ensuring that board composition is reviewed regularly with regard to diversity and the company’s strategic trajectory.

Procedural guidelines emphasize that committee meetings require a quorum of at least two-thirds of its members. Members must withdraw from discussions and voting when personal conflicts of interest arise. Final committee proposals will be presented to the board for consideration, with any related remuneration or compensation arrangements for directors requiring shareholder approval when stipulated by the company’s governance framework. The newly issued Terms of Reference take effect upon the board’s adoption and will be published in accordance with relevant provisions.