Corporate Governance

At CGA Insurance Group, we act with professionalism, transparency, integrity, and high work ethics.

The Board of Directors, assisted by the Executive Committee and the Internal Audit Team, ensure that corporate governance is applied in all business activities and operations.

Board of Directors

The Board of Directors operates under the directives of the Board Chairman. The Board is responsible for reviewing and approving the corporate business strategy as well as overseeing operations. The Board applies the appropriate controls and ensures that all objectives are aligned with CGA Insurance Group strategy.

Executive Committee

The Executive Committee reviews all the Group’s investments and ensures a balance between risks and returns. It assesses internal controls, ensuring objectivity, independence and cost-effectiveness and recommends the appropriate improvements. The Committee is comprised of the Managing Directors, the Chief Executives of Business Units, and the Head of the Legal and Finance Departments.

Group Internal Audit

The Group Internal Audit assists shareholders, the Board of Directors and Executive Management in discharging their duties in overseeing and enhancing group operations. This is achieved through independent audits and consultations designed to evaluate and enhance the internal control system. The Group Internal Audit reports to the Board as well as the shareholders.

International Control Framework

CGA’s system of internal control has a key role in ensuring that the Board and management are able to achieve the Group’s business objectives, as well as safeguard the Group’s interests.

Risk Management

CGA Insurance Group assesses all risks associated with its business and investments and develops plans to prevent any losses and damages at the Group level, including subsidiaries and affiliates.

Code of Conduct

Our management and employees adhere to our internal Code of Conduct, which covers general business principles, compliance, privacy and confidentiality.

Compliance with Anti-Bribery,
Anti-Corruption, Anti-Money
Laundering & Anti-Terrorism Laws

The long-standing commitment of Conseil et Gestion d’Assurance S.A.L. to doing business with integrity, honesty, ethics, and transparency, led the company to adopt its Anti-Bribery & Anti-Corruption, and Anti-Money Laundering & Anti-Terrorism Code governing its activities and operations.

The code guides the company, as well as its employees, agents, and consultants to fully comply with all anti-bribery and anti-corruption and anti-money laundering and anti-terrorism laws and regulations in force in any jurisdiction whereby the company operates or is endeavoring to operate.

The company has set in place an internal process, system and guidelines, fully followed and applied by its representatives to be compliant with the laws in the jurisdictions, and therefore are prohibited – whether directly or indirectly – from violating or attempting to violate the laws in the jurisdictions; and shall duly report any attempt or violation according to the laws.

Compliance with Anti-Bribery & Anti-
Corruption Laws

The company and its representatives shall not, and shall not attempt to promise, offer or present, or make, any payment, promise, service, or bribe, of any nature whatsoever, whether directly or indirectly, to any person*, in any of the jurisdictions in order to obtain an unfair business advantage.

Commissions shall only be paid to third parties who provided services to the company in a permitted manner, provided that the amounts of such commissions are accurately and fairly reflected in the books and records of the company.

For the purpose of the code, person shall include any:

  • Legal person

    (such as any partnership, company, corporation, association, trust, or organization

  • Individual

    whether nominated or elected, whether paid or unpaid, and whether acting as a client or third party or any quality whatsoever (such as any civil servant, worker, employee expert, or consultant, any person officially entrusted with a mission of public nature, any public official, any person serving any administrative or governmental or quasi-governmental order or public institution or municipality or the army or the judiciary, any agent or civil servant officially entrusted with a mission of public nature).

Compliance with Anti-Money Laundering & Anti-Terrorism Laws

The company and its representatives shall not accept or make any payments in any of the jurisdictions to any person with funds known to be derived from illegitimate or illegal sources, or violating any Anti-Money Laundering & Anti-Terrorism laws of the jurisdictions.

To ensure all of the above, the company ensures keeping books and records accurately and fairly reflecting all payments made by it.