A two-tier structure, as in place at Delta Lloyd Group, requires a well-managed relationship between the Executive Board and the Supervisory Board in which each Board has specific responsibilities. These different responsibilities are also expressed in the nature and structure of their reports.
A detailed account of the policy pursued and the company’s results can be found in the Report of the Executive Board. In this Report of the Supervisory Board, we explain how we fulfilled our duties and responsibilities as the internal supervisor. We aim to provide clarity on our approach, with a focus on relevant governance information such as strategy, achievement of commercial targets, risk management, restoring trust in the insurance market and a number of other issues that received particular attention in the Supervisory Board in 2012. This report also includes a section on our own practices and procedures.
The Report of the Supervisory Board should be read in conjunction with section 3 on Responsible Governance, which outlines the corporate governance structure and provides additional factual information on how the company is managed.