CORPORATE GOVERNANCE REPORT Governance structure * 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 has a direct reporting line to the boards of PPS Holdings Trust, PPS Insurance and its subsidiaries, and reports primarily to PPS members. $ Subsidiaries PPS Short-Term Insurance and PPS Investments each have their own combined Risk and Audit Committee, over which the Group Risk and Group Audit Committees have oversight. 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 Investments Proprietary Limited (PPS Investments), Professional Provident Society Insurance Company (Namibia) Limited (PPS Namibia), Professional Provident Society Healthcare Administrators Proprietary Limited (PPS Healthcare Administrators), Professional Provident Society Short-Term Insurance Company Limited (PPS Short-Term Insurance), Financial Solutions 4 Professionals Proprietary Limited (FS4P) and Professional Provident Society Wealth Advisory Proprietary Limited (PPS Wealth Advisory). 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 IVTM and the Prudential Standards. In terms of the Prudential Standards, Risk Management and Internal Controls for Insurers (GOI 3), PPS Insurance is required to adopt, implement, and document an effective governance framework that provides for the prudent management and oversight of its insurance business and adequately protects the interests of its policyholders. PPS members Group Executive Committee Technology Steering Committee Remuneration Committee Risk Committee Social and Ethics Committee* Actuarial Committee Group Audit Committee* Risk Management Function# Actuarial Function# Compliance Function# Internal Audit# External Audit## Nominations Committee PPS Insurance Company Board Subsidiary Company Boards$ PPS Holdings Trust Audit Committee** PPS Holdings Trust Board of Trustees 53 Corporate governance report
RkJQdWJsaXNoZXIy MTY2ODY3Ng==