High standards of Governance

 

The Board of Directors and the Executive Committee are committed to maintaining high standards of governance across the Charles Taylor Group and have adopted a robust governance framework as a demonstration of this commitment. The governance framework is reflective of the new ownership structure of the Group post-acquisition, and clearly defines delegated authorities and operational governance for ease of application and consistency across Charles Taylor.

Section 172 Statements

Section 172 of the Companies Act 2006 sets out a number of general duties which directors owe to a company. Legislation has been recently introduced, to help stakeholders better understand how directors have discharged their duty to promote the success of the company, while having regard to the matters set out in section 172(1)(a) to (f) of the CA2006.

These section 172(1) statements for qualifying subsidiary companies within the Charles Taylor Group are available below:

The Board’s review of the system of risk management and internal controls


During 2020, a process was undertaken to review and enhance the Group's risk management and internal controls process.

A project to identify a Group financial controls framework was concluded: a process of self-certification operates throughout the Group, whereby the effectiveness of the financial controls, including compliance with policies are assessed.

In addition, we have a comprehensive programme to assess the Group’s entity level controls. The results of the annual process, together with the conclusions of the internal reviews by internal audit, enable the Executive Committee and the Board, to form and report their view on effectiveness.

We conclude that the system of risk management and internal control is effective, whilst recognising the need for ongoing and continuous improvement. We have confidence in the work of internal audit and the functional assurance teams, alongside our management teams, to identify issues that arise and remediate where necessary control gaps in line with our risk appetite.

 

The Board comprises of our Chairman - Edward Creasy, Group CEO - Robert Brown, Lovell Minnick Partners - Jason S. Barg and Spencer P. Hoffman and, our Chairman for Insuretech - Tamer Ozmen

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