Bupa’s System of Governance
Strong governance and risk management are key to achieving our vision of being the most trusted health insurer and provider. The Board’s role is to provide clear leadership in setting strategy and risk appetite, and to oversee management’s implementation of that strategy within a prudent and effective governance and risk management structure.
Bupa’s governance structure is designed to enable the Board to lead within a framework of prudent and effective controls so that risk is effectively assessed and managed. This includes a Risk Management Framework (RMF) implemented using a ‘three lines of defence’ approach. The RMF ensures that:-
- All parts of the Group apply a consistent and robust approach to risk management;
- Current and emerging risks are identified and the potential consequences of them are understood;
- Clear risk appetites are set within which the business operates;
- Appropriate and effective steps are taken to mitigate and manage identified risks including using risk management information to make risk-based decisions;
- There is clear ownership of, and accountability for risk, without fear of blame when communicating risk events; and
- The culture in all areas of the Group encourages and rewards appropriate risk behaviours and challenges and sanctions inappropriate risk behaviours.
See Our Board and Board Committees for more information on their roles and how they oversee Bupa’s System of Governance.
We choose, as far as possible, to comply with the UK Corporate Governance Code to the same standards of UK listed companies and describe how we have applied the relevant principles of the Code in our Annual Report.
Download Our Board governance structure