Chairman’s introduction

Strong, effective and
transparent governance


“As Chairman of the Board, I am
pleased to report on our governance
and stewardship throughout
the year.”

Paul Manduca
Chairman

Paul Manduca, Chairman

Dear Shareholder

As Chairman of the Board, I am pleased to report on our governance and stewardship throughout the year.

Succession was understandably a key focus in 2015, but there were many other areas that commanded attention. Alongside the ongoing items of strategy and business performance, the Board and its committees also spent time on Solvency II and preparations for the G-SII regime.

Good corporate governance makes an indispensable contribution to the growth and long-term success of any business. Providing appropriate support, focused oversight and constructive challenge are critical elements of a well-functioning board. This means ensuring that our own processes, mechanisms and structures are best matched to the business and its strategy.

Alongside this, there is also the important role of the Board in establishing and promoting the culture and values of the Company. Prudential has a proud heritage which shapes how we conduct our business. Our role as custodians of that legacy is one that we take seriously.

To achieve all these aims means that managing the development of the Board is vital, and as Chairman that duty falls to me. I have sought to cast the Board so that its composition and balance best supports the business in delivering sustainable long-term value. This means ensuring that we have the right skill sets and experience, and ensuring that succession planning is supported by a strong bench with a depth of talent.

We adhere to the relevant principles and codes and also work to remain abreast of trends and developments in corporate governance. This is an ever-evolving field, which rightly attracts close scrutiny. I have an ongoing programme of engagement with our major investors and meet retail shareholders at the Annual General Meeting. I have been pleased with the feedback we have received on our progress.

Our stakeholders not only expect high-quality governance, they also expect to be able to see that it is being delivered. As such, we remain committed to clarity and transparency in our reporting.

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Board of Directors

3

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