Our governance framework
At Royal London, we know that being upfront and honest is important - and rightfully so. That's why we're always working hard to ensure our business is run in a compliant manner, and that you - our customers and members - can easily find out more about how we do this whenever you want.
We're always aiming to ensure our standards of corporate governance are as high as they can be, and that we comply with the Annotated Corporate Governance Code for mutual insurers issued by the Association of Financial Mutuals. The Code is consistent with the UK Corporate Governance Code, to which all UK listed companies must comply.
One of the most important ways we try to ensure sound governance is by putting a range of policies and systems in place. These help us make sure the company is being well-managed with effective oversight and control in the interest of our members at all times.
The Board of Directors has appointed a number of committees to oversee and report back on Royal London's different activities so that they are always up to date with how the business is being run. Each committee is chaired by a Non-Executive Director, and has specific delegated responsibilities.
Want to know more about these committees? We've popped a few helpful links below to the terms of reference of each committee, which outline the committees’ purpose and responsibilities:
- Articles of Association - Updated June 2013 (PDF, 1.6Mb)
- Audit Committee - Updated June 2020 (PDF, 148kb)
- Board - Updated June 2020 (PDF, 164KB)
- Disclosure Committee - Updated June 2020 (PDF, 126kb)
- Internal Audit Charter - Updated December 2020 (PDF, 188kb)
- Investment Committee - Updated June 2020 (PDF, 134kb)
- Nominations and Governance Committee - Updated December 2020 (PDF, 134kb)
- Remuneration Committee - Updated December 2020 (PDF, 130kb)
- Risk & Capital Committee - Updated December 2020 (PDF, 143kb)
- With Profits Committee - Updated August 2020 (PDF, 425kb)