Which of the following statements accurately describes the role of an executive in an insurance company?

C. The chief financial officer (CFO) of an insurance company is responsible for communicating financial information to company managers and external parties.

• A. The chief executive officer (CEO) of an insurance company usually approves budget numbers and is responsible for managing the company's resources within budget guidelines. While the CEO is responsible for managing resources within budget guidelines, the final approval of major budget numbers typically rests with the board of directors, not solely the CEO. The CEO proposes the budget and ensures its execution.
• B. The audit/risk committee is responsible for setting an insurance company's investment policy. The audit/risk committee primarily oversees financial reporting, internal controls, and risk management. Setting investment policy is usually the responsibility of the investment committee or the full board of directors.
• C. The chief financial officer (CFO) of an insurance company is responsible for communicating financial information to company managers and external parties. This statement is correct. The CFO is the senior executive responsible for managing the financial actions of a company, including financial planning, reporting, and communicating financial performance to internal stakeholders (managers) and external stakeholders (investors, regulators, analysts).

The correct statement is C.

The final answer is $\boxed{\text{C}}$