This Insular Group 2020 Annual Report gives an update on the progress and priorities set out in our previous report in 2019. It contains data and information on various aspects of our business and operations. Our intention is to provide a holistic view of our financial and non-financial performance such as operational, social responsibility, and governance.
This report aims to address the information needs of our policyholders and other stakeholders with an interest in both our financial and non-financial performance.
Report Cycle and Boundary
This report comes out annually and covers the performances of The Insular Life Group of Companies which is comprised of parent company, The Insular Life Assurance Company, Ltd. (a mutual company); its subsidiary, Insular Health Care and affiliate, Mapfre Insular.
Data Collection and Validation
In order to obtain the relevant data for this report, consultations were made with our business units on the financial, social, and operational topics that they deem most relevant to our business as an insurance company. Meanwhile, we engaged the services of SGV & Co. to audit our financial reports for the parent company, Insular Life, and the consolidated report of the Insular Group of Companies. Data are validated and processed by our Public Relations Staff. We have developed a basic reporting protocol and defined the requests for specific data in our collection tool to align the understanding of what data are required from our offices.
For this report, we have aligned our disclosures in accordance with our commitment to the United Nations’ Sustainable Development Goals (SDG). Our goal is to eventually adopt the Reporting Standards of the Global Reporting Initiative (www.globalreporting.org). We will continue to closely track our sustainability performance and lay the groundwork for seeking independent assurance in the near future to be aligned with global best practices on sustainability and integrated reporting. This report is pursuant to the standards of the ASEAN Corporate Governance Scorecard (ACGS) as mandated by the Insurance Commission.