Corporate Governance

The Management Committee is accountable not only under statue and regulation but also to the Society's members for the operation of the Society, It regards corporate governance as an important part of its conduct.

The Association of Financial Mutuals has continued to develop the Annotated Corporate Governance Code. Although the Combined Code was originally designed with the good governance of listed companies in mind this annotated version is more closely focused on the business of mutual insurers.

The Society is committed to implementing the provisions necessary for good corporate governance, where they are pertinent to the size and nature of our business, and will follow the process set out in the Annotated Corporate Governance Code.

The provisions encompass many areas of conduct, including composition of the Management Committee, conduct of meetings, appropriate sub-committees, internal control, member relations and engagement, accountability and audit, remuneration and financial reporting.

Fuller details are provided each year in the Society's annual accounts.

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