SOUTH AFRICA - Sanlam today announced plans to establish a new institutional business committee as part of a major corporate governance review.
The insurer said its Sanlam Investment Management, Sanlam Capital Markets and Sanlam Employee Benefits Divisions would henceforth comprise the Institutional Business Cluster, which will be appropriately authorised to direct and monitor all strategic implementation and operational performance aspects of their businesses.
Following the re-election and election of members to the board of Sanlam Limited at its AGM on 7 June 2006, it was announced the the institutional Cluster would be chaired by Johan van Zyl.
The insurer’s board announced a raft of changes as part of a review of the Group's major corporate governance structures. The board said the review was aimed at streamlining the decision-making processes so as to increase the efficiency of the Group at both board and operational levels.
The said all decisions announced would be implemented following the next shareholder and board meetings of subsidiary companies.
By Damian Clarkson
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers