Dutch Corporate Governance & Insurers’ Code
Dutch Corporate Governance Code
NN Group acknowledges the importance of good corporate governance. It has reviewed the Code and generally supports the best practice provisions of the Code. NN Group is monitoring its Corporate Governance Code position and will comply with the best practice provisions of the Code subject to certain exceptions. Reference is in this context also made to Chapter 16 (Corporate Governance) of the Equity Prospectus dated 17 June 2014.
Dutch Insurers’ Code
In December 2010, the Dutch Association of Insurance Companies (Verbond van Verzekeraars) published the Governance Principles, also known as the Insurers’ Code. The Insurers’ Code lays out the principles for Dutch insurance companies in terms of corporate governance, risk management, audit and remuneration.
The Insurers’ Code is a form of self-regulation that took effect on 1 January 2011 on a ‘comply or explain’ basis, and was drawn up to contribute to restoring trust in the financial sector as a whole.
On 21 March 2014 a report was published on the application of the Insurers’ Code by NN Group N.V. through its direct main subsidiary.