Our Group considers restoring the trust of our stakeholders to be its top priority and is continuously committed to enhancing the effectiveness of its governance. Since 2024, we have been working to fundamentally strengthen our management and governance framework, establish systems to ensure the sound and proper operation of our subsidiaries, and develop a framework to foster a healthy corporate culture.
(1)Fundamentally strengthen our management and governance framework
- Appoint an independent director* as chair of the Board of Directors
- Promote more active discussion at Board meetings
For details, please refer to the Message
from the chair of the Board.
- Analyze, evaluate the effectiveness of the Board of Directors as a whole using outside experts
- Group CAE: Appoint the best talent from a global perspective
For details, please refer to the Message
from the chair of the Board.
(2)Establish systems to ensure the sound and proper operation of our subsidiaries
- Gather voices from employees of Group companies
- Regularly exchange opinions between the Audit Committee, the Group CRO, and Senior Executive Vice President in
charge of Compliance
- Improve effectiveness of internal audit functions
For details, please refer to the Audit
Committee.
(3)Take initiatives to foster a healthy corporate culture
- Review Sompo Group Compliance Code of Conduct and promote
the use of SOMPO’s Yes to officers and employees
For details, please refer to Group Internal
Control.
- Revise the Policies for Appointment of Directors and
Executive Officers to reflect the new Group Common Competencies
For details, please refer to the Nomination
Committee.
- Revise the Basic concept of Compensation for Directors
and Executive Officers to reflect the new Group Common Competencies, and change the Group executive compensation
system
For details, please refer to the
Compensation
Committee.
For information on our submission of the business improvement plan regarding the improper management of
insurance contract information, see the following document.
For information on the progress of our business improvement plans regarding insurance premium adjustment
practices and our response to fraudulent auto insurance claims, see the following document.
Note:The Company will determine the independence
from the Company of Outside Directors based on the matters set forth below:
A.Personal Relationships: A kinship between the candidate
and any officer or employee of the Group, status of mutual appointments of
officers between the company and the company which the candidate is originally from.
B.Capital Relationships: The holding of shares
in the Company by the candidate and the status of shareholding by the Group.
C.Business Relationships: Business
transactions or donations between the Group and the candidate.
D.Significant interests other than the above.
