MSF Pritchard Syndicate 318

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Slavery Act Statement

Beaufort Underwriting Agency Limited (Beaufort) is a Lloyd’s Managing Agency responsible for the management of MSP Syndicate 318 (Syndicate 318) and its related entities. Syndicate 318 specialises in providing property and aviation insurance worldwide through a network of brokers.



Beaufort takes its responsibilities very seriously. Being part of the Munich Re Group, we are committed to the ten principles of the United Nations Global Compact, which are included in our code of conduct. We also adhere to Munich Re Group’s Environmental, Social and Governance (ESG) principles, which include labour and working conditions measures.



This statement provides clarity on our corporate responsibility, especially focusing on Beaufort’s compliance with the Modern Slavery Act and our commitment to prohibiting any form of forced labour or slavery throughout our supply chain.



To be able to achieve this commitment Beaufort is undertaking the following steps:



1)      Employees:

  • Are required to adhere to our Code of Conduct and Ethics policy
  • Are required to adhere to our Central Procurement policy and other policies applicable to suppliers.



2)      Suppliers:

  • All new suppliers are subject to a selection process established within our Central Procurement policy or other form of due diligence which sufficiently assesses propriety.
  • Most of our new suppliers’ contracts require adherence to the ten principles of the United Nation Global Compact or the Modern Slavery Act 2015.
  • We reserve the rights to audit most of our suppliers to ensure their adherence with the ten principles of the United Nations Global Compact or the Modern Slavery Act 2015.



Beaufort continues to review its policies and processes in an effort to avoid and prevent slavery and human trafficking within its supplier chains.



Further information on Munich Re Corporate Social Responsibility (CRS) and the overall group approach relating to slavery and human trafficking is available on the Munich Re website



This statement is made pursuant to section 54 (1) of the Modern Slavery Act 2015 and constitutes the slavery and human trafficking statement approved by the Board of Management on 16th May 2017 for the financial year ending 31st December 2016.



Signed

 

For and on behalf of Beaufort Underwriting Agency Limited Board
 




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