Integrity and Governance
Based on the philosophy of ethical corporate management and corporate governance, strengthens board structure and operations, increases information transparency, expands stakeholder participation, implements sustainable development and continues to make progress in terms of domestic and overseas benchmarks.
We attach importance to ethical corporate management and the Ethical Corporate Management Best Practice Principles serve as the Company's highest guiding principles. We also established the "Code of Conduct for Ethical Corporate Management" and "Guidelines for Whistleblowing on Illegal, Immoral or Unethical Conduct" to implement the ethical corporate management policy.
All directors, senior managers, office staff, and agents signed the statement on ethical corporate management. All office staff and agents completed training courses. Furthermore, we established a complete whistleblowing system, and established numerous whistleblowing channels to protect the rights and interests of whistleblowers. Additionally, we distributed questionnaires to all office staff, and used survey results and recommendations from employees as the basis for reviewing the ethical corporate management policy and implementation measures. To strengthen the accountability of supervisors, we implemented the accountability system to supervisors accountable for major deficiencies that occur according to the system.
Six functional committees, including the Risk Management Committee, Audit Committee, Remuneration Committee, Integrity and Ethics Management Committee, Nomination and Performance Evaluation Committee and Corporate Sustainable Development Committee were established under the Board of Directors to protect the Company's overall interests and improve board performance.
The Board of Directors is the highest level decision-making organization, and carefully decides the Company's business strategy and direction. The management team periodically attends board meetings to propose reports, and maintains good communication channels and interactions with directors to help the Board of Directors better understand the Company's business situation.
The Board of Directors continues to supervise the identification, management, and response to climate-related risks and opportunities, and periodically receives continuing education on climate change, ESG, green finance, IFRS 17, information security, treating customers fairly, ethical corporate management, and anticorruption, showing that the directors are highly interested in and attach importance to the topics above.
The performance goals for all senior managers of the Company include financial aspects, e.g. business performance, non-financial aspects, e.g. ESG, and internal control and governance, e.g. compliance. Annual performance bonuses based on the Company's overall profits and individual performance are submitted to the Remuneration Committee and Board of Directors for review.
The annual ESG performance goals of senior managers are set based on the four sustainability themes: "Low Carbon Transition," "Inclusive Finance," "Sustainable Finance," and "Corporate Governance Enhancement." and are developed downward into the annual sustainable development of the department. ESG evaluation items are included into board performance evaluations, each department reports the implementation of ESG performance goals that year and implementation plans for the following year to the Sustainable Development Committee for review. Achieving the goals will affect the variable compensation of managers that year, so that managers will jointly work towards the long-term goal of sustainable development.
| Evaluation Indicator |
Description | |
|---|---|---|
| Financial Indicator | The Company's business development and financial performance | Example: net profit after tax, after-tax ROE, total revenue, and key financial performance indicators related to the life insurance industry |
| Non-financial Indicator | Promotion and implementation of ESG, NPS, digitalization, and employee engagement | Corresponds to the ABCDE strategy and includes 7 non-financial indicators in three aspects, which looks towards future trends in financial services, accelerates organizational transformation, and improves the customer experience and employee benefits, in hopes of becoming the industry benchmark |
| Internal Control and Governance | Strengthen internal audits and internal controls for compliance, and implements practices for the organization's mission, vision, and values | ． Compliance, internal audits and internal control, and compliance of information security operations. ． Promote practices and measures related to the mission, vision, and values |
Whistleblower channel for illegal, immoral or unethical behavior to the Company:
- The whistleblower should provide effective contact information, describing the facts and provide relevant evidence.
- After the case is accepted, the Company shall keep the identity of the whistleblower confidential, and relevant information shall be carefully preserved, encrypted and protected, and access rights shall be restricted.
- If the whistleblower is an employee of the Company, the Company shall provide appropriate protective measures and ensure that the employee will not suffer improper treatment as a result of the whistleblowering.
(Recipient: KGI Life Insurance Legal Compliance Department/Please mark as “confidential”)