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Corporate governance

Bupa is managed in line with the corporate governance safeguards and commercial principles that would be expected to be found in a UK listed company.

Bupa has a majority of independent Non-Executive Directors, including an independent Chairman. Bupa takes corporate governance very seriously and is committed to meeting best practice where this is appropriate. The independent Non-Executive Directors currently outnumber Executive Directors by a ratio of three to one. 

The Board supports the principles of corporate governance set out in the UK Corporate Governance Code published by the Financial Reporting Council in June 2010, and updated in September 2012 and September 2014. Bupa has complied with the provisions set out in the 2014 Code throughout the year ended 31 December 2015 except section C.3.7: Audit Committee and Auditors, where Bupa has not yet placed its audit out to tender, with KPMG having been in post for over 20 years. The Board was satisfied that KPMG continued to be independent and agreed that it would be likely to be disruptive to place the audit out to tender during 2015, at a time when Bupa was preparing for the implementation of Solvency II. Bupa is monitoring the impact of new legislation from the EU on compulsory auditor rotation and the Audit Committee will consider this during 2016.

We have a policy on Board Diversity, which was approved in February 2012.

Bupa's subsidiaries are supervised by external regulators, including in the UK the Financial Conduct Authority and the Care Quality Commission. Separate regulatory requirements apply to each market in which Bupa operates.

This section is split into:

Learn more about our Board, the various Bupa committees and download our most recent Governance Report.