The board of directors of the SIA is composed of five individuals. Three are elected by the Althing. Insurance companies which collect premiums (SFFs) shall select one member of the board of directors and the Minister of Finance and Economic Affairs shall appoint a chairman. The members of the board are appointed for a four-year term. Further information on the board members can be found in the governance statement.

• Sigurður Kári Kristjánsson - Chair, nominated by the Minister of Finance and Economic Affairs

• Lína Björg Tryggvadóttir - Deputy Chair, elected by the Althingi

• Jóna Björk Guðnadóttir - Appointed by the Federation of Financial Undertakings

• Ragnar Þorgeirsson - elected by the Althingi

• Steinar Harðarson - elected from the Althingi

Alternates are elected in the same way as the principal members.

The alternates on the board are:

• Sóley Ragnarsdóttir, Sigurður Kára Kristjánsson's deputy

• Margrét Arnheiður Jónsdóttir, Jóna Bjarkar Guðnadóttir's deputy.

• Sigríður Gísladóttir, deputy of Lina Bjargar Tryggvadóttir

• Silja Dögg Gunnarsdóttir, Vice-Chairman Ragnar Þorgeirsson

• Tómas Ellert Jónsson, Steinar Harðarson's deputy

The review committee of NTÍ is composed of three members elected by the board of the board. The role of the committee is to monitor the process of preparing financial statements, risk management and the functioning of internal controls.

• Sigurður Þórðarson - Chairman

• Steinunn Guðjónsdóttir

• Ragnar Þorgeirsson