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9 July 2004

Myners Review of the Governance of Mutual Life Offices

Following the Report of the Equitable Life Inquiry, Ruth Kelly, the Financial Secretary to the Treasury, announced an independent review into the governance of mutual life insurance offices in the UK.

The review is being conducted by Paul Myners and will report by the end of 2004.  The review’s consultation document was launched on 9 July 2004.  It includes questions about the corporate governance guidance that applies to mutual life offices, the roles of policyholders, regulation and market disciplines in the governance of life mutuals, as well as some questions about the role of non-executive directors in complex businesses such as life insurance.  

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