Former HIH director Dominic Fodera has been sentenced to three years and four months in jail for his part in the company's collapse in 2001.

Mr Fodera was sentenced in the NSW Supreme Court last week after pleading guilty in September to a charge of knowingly or recklessly failing to act honestly in the discharge of duties of his office.

The charges related to an accounting treatment used to get beneficial treatment for the company.

HIH had accounted for the arrangements with Hannover Re on the basis that they were reinsurance contracts involving a transfer of risk, which resulted in an additional $92.8 million being posted to HIH's operating profit.

The Australian Securities and Investments Commission (ASIC) alleged Mr Fodera failed to inform the directors of HIH and its auditor of the true terms and effect of HIH understandings and contractual arrangements.

Mr Fodera is the ninth person to be sentenced in relation to charges brought by ASIC as part of its HIH investigation.

This follows the nine-month jail term handed down in February to former HIH Company Secretary Frederick Lo.

Mr Fodera is already in custody having been sentenced in June to three years jail following other charges laid by ASIC relating to his authorisation of a prospectus issued by HIH Holdings (NZ) that contained a material omission.

He will serve the sentences partly concurrently with a minimum non-parole period of three years.