Royal London
March 10th 2010

Myners review of the governance of life mutuals

In July 2004 the Treasury asked Paul Myners to conduct a review on corporate governance in mutual life companies. The first stage of the review was a consultation which asked companies and individuals for their views.

The findings of the review were published in December 2004.

Corporate governance means the way a company is run. The review is particularly focused on the following issues:

  • the corporate governance guidance that applies to mutual life offices
  • the role of non-executive directors in complex businesses such as life insurance, including the information and advice that they use
  • the role of policyholders in the corporate governance of mutual life offices
  • the role of regulation in the corporate governance of mutual life offices
  • the market disciplines that influence mutual life offices
  • the potential advantages of the mutual form, particularly in the financial sector
  • the structure of the UK mutual life insurance market
  • practice in other countries

Links