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GOVERNANCE STRUCTURE
CORPORATE GOVERNANCE REPORT
GOVERNANCE
The holding entity of the PPS Group is the Professional Provident Society Holdings Trust (PPS Holdings Trust). Its primary operating
subsidiary is Professional Provident Society Insurance Company Limited (PPS Insurance). The key operating subsidiaries of PPS
Insurance are Professional Provident Society Short-Term Insurance Company Limited (PPS Short-Term Insurance), Professional
Provident Society Investments Proprietary Limited (PPS Investments) and Professional Provident Society Healthcare Administrators
Proprietary Limited (PPS Healthcare Administrators). Good corporate governance is an integral part of the PPS Group’s operations
and the PPS Group is fully committed to the principles of King IV and the SAM Pillar II Risk Management requirements. In terms of
the Pillar II Risk Management requirements, PPS Insurance is required to adopt, implement, and document an effective governance
framework that provides for the prudent management andoversight of its insurance business and adequately protects the interests
of its policyholders.
PPS MEMBERS
PPS Holdings Trust Board
of Trustees
PPS Holdings Trust
Audit Committee**
NominationsCommittee
PPS Insurance Company Board
Subsidiary Company Boards
Remuneration
Committee
Social and Ethics
Committee*
Risk Committee
Actuarial Committee
Group Audit
Committee*
Executive Management Committee
Risk Management
Function
#
Compliance Function
#
Actuarial Function
#
Internal Audit
#
External Audit
##
* These are statutory committees with a direct reporting line to the PPS Insurance Board.
** This is a statutory committee, required in terms of the Trust Deed of PPS Holdings Trust, with a direct reporting line to the PPS Holdings Trust Board.
# These functions also have direct reporting lines to the appropriate board committees.
## External audit also has a direct reporting line to the boards of PPS Holdings Trust, PPS Insurance and its subsidiaries, and to PPS Members.
PPS
INTEGRATED REPORT
2017
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