Governance Principles

The Governance Principles were drawn up by the Dutch Association of Insurers as a complement to the Code of Conduct for Insurers. The Principles are in conformity with the basic tenets of the Banking Code drawn up by the Dutch Banking Association.

Both codes are self-regulatory codes and contain provisions governing the composition and functioning of the Executive Board and the Supervisory Board and their mutual relations as well as risk management and remuneration policy. The Governance Principles apply to all insurance activities of Delta Lloyd Group and have been in force since 1 January 2011.

Delta Lloyd Group fully endorses the Codes. We see them as an important step on the path to restoring trust in the banking and insurance industry. The principles help to ensure stability and protect the interests of all stakeholders. Restoring trust will require sustained action and continuing attention. In keeping with the Governance Principles and the Banking Code, the Executive Board has signed the moral and ethical conduct declaration. This reads as follows:

WHEREAS:
• the Governance Principles as drawn up and published on 15 December 2010 by the Dutch Association of Insurers and published on 9 September by the Dutch Banking Association adhere to the principle that members of the Executive Board of an insurer or bank must perform their duties with care, expertise and integrity and with due regard to the applicable laws and regulations, codes and rules;
• the Banking Code and Governance Principles underline the importance of the above principle by requiring each member of the Executive Board to sign a moral and ethical conduct declaration as described in the Banking Code and Governance Principles;
• in signing this declaration, the members of the Executive Board confirm the following;
 
DECLARATION:
I declare that I will perform my duties as an insurer and banker with integrity and care. I will carefully consider all the interests involved in the insurer and bank, i.e. those of the clients, the shareholders, the employees and the society in which the insurer and bank operate. I will give paramount importance to the client's interests and inform the client to the best of my ability. I will comply with the laws, regulations and codes of conduct applicable to me as an insurer and banker. I will observe secrecy in respect of matters entrusted to me. I will not abuse my insurance and banking knowledge. I will act in an open and assessable manner and I know my responsibility towards society. I will endeavour to maintain and promote confidence in the insurance and banking sector. In this way, I will uphold the reputation of the insurance and banking profession.

On 3 April 2014 Delta Lloyd Group posted the report entitled 'Application of Governance Principles' by Delta Lloyd Group. 
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