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Royal London
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

Treasury Press Release - summary of review

Royal London Response to Myners Review (PDF - 754 Kb)

Response from the Association of Mutual Insurers (AMI) (PDF - 659 Kb)

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The Royal London Mutual Insurance Society Limited. Registered Office: 55 Gracechurch Street, London EC3V 0RL United Kingdom. Registered in England No 99064.

Royal London Group consists of The Royal London Mutual Insurance Society Limited and its subsidiaries. The Royal London Mutual Insurance Society Limited provides life assurance and pensions and is a member of the Association of British Insurers and the Association of Financial Mutuals. Royal London Savings Limited provides the Individual Savings Account. Royal London Unit Trust Managers Limited provides unit trusts. All these companies are authorised and regulated by the Financial Services Authority.

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