The Association of British Insurers (ABI) has published a report on “Improving Corporate Governance and Shareholder Engagement.” The report looks critically at all of the roles and responsibilities within corporate governance including the relationship between asset owners and asset managers, the role of non-executive directors and the way in which institutional investors take companies to account. The report also contains a comprehensive review of “major institutional investors’ current approaches to corporate governance analysis and engagement” as well as containing a number of proposals aimed at keeping the UK at the forefront of global engagement.
In releasing the report the Head of Corporate Governance at the ABI, Andrew Ninian, commented that “Good corporate governance enhances and underpins a company’s long-term performance and is critical to long-term value creation and economic growth.”
In other corporate governance news, the Central Bank of Ireland has issued a consultation aimed at reviewing the existing Irish corporate governance code for credit institutions and insurance undertakings. The current code came into force on 1 January 2011 and The Bank is now taking the opportunity to review the code in the light of recent international developments and current best practices. The closing date for comments is 1 October 2013.
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