Corporate Governance

The Admiral framework of governance and the approach the Board has taken during 2015 to achieve the standards of good corporate governance for which it is accountable to the Group’s shareholders, is set out in detail in the Corporate Governance Report contained in the Group’s 2015 Annual Report and Accounts.

The Group believes that having a sound corporate governance framework enables effective and efficient decision making and ensures that there is the right balance of skills and experience to assess and manage the risks in the markets in which the Group operate.

As the next external Board evaluation facilitated by an independent external consultant will not take place until later in 2015, the process of evaluating the Board’s performance this year consisted of each Board member completing a questionnaire detailing specific areas of focus for the Board including the composition of the Board, the performance of the Company in capturing strategic opportunities and the top priorities for improving the Board’s performance over the coming year. The results of the evaluation and areas for development were discussed by the Board at the meeting in December 2015 and are set out in more detail on pages 45 and 46 of the Annual Report.