Corporate governance

In line with our corporate value of integrity, Hiscox strives for the highest standards of corporate governance while being in essence a non-bureaucratic organisation.

Download our latest corporate governance report

Corporate governance resources

• Schedule of matters reserved for Board determination
• Audit Committee terms of reference
• Remuneration Committee terms of reference
• Nominations and Governance Committee terms of reference
• Internal audit policy
• Hiscox Ltd Board diversity, equity and inclusion policy

Hiscox Group Governance Model

High level process and key information flows

The Hiscox Group Governance Model, the ‘hour-glass’ diagram (below), was developed to identify and provide a visual for the instances where the Group Board exercised strategic direction, oversight of the Group and how this overlays with the Subsidiary Boards delivery of the mind and control of their respective entities within the group context. This has been reviewed by the Group Board and the Principal Subsidiary boards and therefore the ‘hour-glass’ represents the agreed approach for the delivery of Group Governance. 

Hiscox Board Effectiveness Review

The Board and its Committees have a culture of continuous improvement and as part of this undertake a formal and rigorous annual evaluation of Board and Committee performance; the results of which help to inform appropriate action and development. Board, Committee and Director effectiveness evaluations are carried out each year and the results are reviewed and discussed at the Board and Committees. Every third year, the Board evaluation is undertaken by an external evaluator, as will be the case in 2023.

The figure below outlines the overall process:

Former Directors

Robert Childs ceased to be a director of Hiscox Ltd on 30 June 2023. There was no payment made to Mr Childs as a result of ceasing to be a Director.