As a top 20 ASX-listed company, Suncorp upholds the industry’s most robust governance and risk management processes. These are essential to maintaining integrity and confidence in the company as a leading financial services provider.
Suncorp is proud of its track record and believes effective corporate governance is critical to creating ongoing value for all of its stakeholders.
Governance and Risk Management Approach
Suncorp Group complies with the Corporations Act 2001, the Australian Securities Exchange Listing Rules, and the governance requirements prescribed by the Australian Prudential Regulation Authority under Prudential Standard CPS 510 Governance. Throughout the reporting period, the governance arrangements were consistent with the third edition of the ASX Corporate Governance Council’s (ASXCGC) Corporate Governance Principles and Recommendations.
The Board Charter stipulates a majority of the Board must be independent, non-executive directors. The Board regularly reviews the independence of each non-executive director and, in June 2016, completed an independence assessment in accordance with the ASXCGC Principles and Recommendations. The Board considers all its current directors to be independent, with the exception of Michael Cameron who is the Chief Executive Officer & Managing Director.
The Board held 11 meetings in 2015/16 and two strategic planning sessions. Details of directors’ attendance at those meetings are disclosed in the 2015/16 Directors’ Report and Financial Statements, available at suncorpgroup.com.au/investors/reports.