Meetings of the Supervisory Board in 2012
The Supervisory Board held seven plenary meetings in 2012, some of which were preceded by a meeting which was not attended by the members of the Executive Board. The attendance rate of the Supervisory Board members at the plenary meetings in 2012 was 91%. There were also many informal contacts between individual Supervisory Board members outside the meetings. None of the Supervisory Board members were frequently absent.
Between meetings, the chairman of the Supervisory Board maintained intensive personal contact with the chairman of the Executive Board. The chairman acts as the first point of contact within the Supervisory Board for the chairman of the Executive Board, who discusses topical issues and the company’s general affairs with him. Further to this, the chairman serves as the ‘entry point’ for providing information to the Supervisory Board. In this sense, the chairman acts as the Supervisory Board’s listening post. The chairman and the secretary, acting on behalf of the Supervisory Board, monitor the action taken to implement decisions made in meetings and agreements made with the Executive Board.
The chairman of the Audit Committee has frequent personal contact with the Chief Financial and Risk Officer (CFRO) and his staff. The chairman of the Risk Committee holds frequent talks with the CFRO, the chairman of the Executive Board and the risk management staff. The chairmen of the Remuneration Committee and the Nomination Committee have direct contact with the Executive Board member responsible for human resource management and the relevant corporate staff director. Members also paid individual visits to various business units within Delta Lloyd Group and spoke with employees.
The discussion of the management letter with the external auditor revealed no issues that need to be mentioned in this Report of the Supervisory Board. In addition, all issues discussed in the Audit Committee and mentioned in section 2.5 were also reviewed with the external auditor.
Members of the Supervisory Board take it in turns to attend meetings of the Works Council. Once a year, there is a joint meeting of the Supervisory Board, the Executive Board and the full Works Council. The theme of the 2012 meeting was innovation. There was also informal consultation between the chairman and vice-chairman of the Supervisory Board, the chairman of the Executive Board and the executive committee of the Works Council. The Supervisory Board monitors the subjects raised in the consultative meetings and appreciates the contacts with the Works Council.
As part of the commitment to lifelong learning, the Supervisory Board took part in various modules:
- Financial reporting, risk & controls and Solvency II;
- Assurance and in control statement and performance measurement, soft controls, financial behaviour;
- Financial reporting, management control and understanding financial markets and products;
- Developments in the financial sector and at insurers/banks in particular;
- Audit and Risk Committees in-depth review; and
- Customer Focus.
These meetings were addressed by external speakers.