Sound corporate governance practices ensure that RCI Life Limited and RCI Insurance Limited (“the Companies”) continue to meet their business objectives whilst securing the interests of policyholders, shareholders and other stakeholders by encouraging sustainable and long-term growth.
The Companies assume a governance structure which promotes:
- Clearly defined roles and responsibilities
- Effective information flows
Policies and Procedures
Policies and procedures set out the roles and responsibilities of the various business functions and governance bodies within each key operational area. These are periodically reviewed to ensure the ongoing relevance and continued alignment of the underlying principles with the risk appetite and business strategy of the Companies.
Dedicated governance committees are established to support the Board of Directors in steering business-critical areas, (notably insurance operations, investment management, risk management, internal control and compliance), and comprise an appropriate mix of directors, key function holders and shareholder representation.
The Board of Directors
The Board of Directors and Management recognise the importance of instituting appropriate measures to ensure that persons who effectively run the business or carry out other key functions possess the required levels of fitness and propriety to conduct the affairs of the Companies in a sound and prudent manner.
Staff and External Partners
Staff are expected to:
- Conduct themselves with utmost integrity and diligence at all times.
- Strive for excellence in the work they perform.
- Strive to achieve the best possible outcomes.
- Promote the public interest.
This principle extends to all external partners by ensuring that service providers conform to prescribed standards of service.
Compliance with Regulations
The Companies have no appetite for fraud, corruption or any other unauthorised activity and are committed to ensuring compliance with relevant legislation, regulation, industry codes, ethical and professional standards as well as internal policies.