Modern Slavery is a term used to encompass slavery, servitude, forced or compulsory labour and human trafficking. Modern Slavery is a crime and a violation of human rights. This statement is made by PMAL, pursuant to section 54 of the Modern Slavery Act 2015.

PMAL will not tolerate any form of slavery, servitude, forced labour or human trafficking in the managing agency or any of its related entities. This statement sets out our approach and steps taken to safeguard against Modern Slavery.

The relevant reporting period for this statement is (1 January 2021 – 31 December 2021).

PMAL is a managing agent at Lloyd’s which is responsible for the management of syndicate 1884. PMAL is owned by the Premia Group, a legacy reinsurance provider with businesses in Europe, Bermuda and USA.

PMAL is committed to ensuring that there is no Modern Slavery and human trafficking in any part of our business or supply chains. We have assessed our exposure to the risks of Modern Slavery and Human Trafficking in any part of our business or supply chain and believe it to be low. Our assessment identified four main areas of potential exposure:

Supply Chain: PMAL is a Lloyd’s managing agent. Unlike large retail or manufacturing organisations we do not have a complex supply chain.

Recruitment: We have clear recruitment procedures and offer equal opportunities to all employees.

Third-party labour practice: This includes recruitment agencies, contractors and third-party companies providing services to the agency. Our due diligence and selection processes mitigate the risk of exposure to practices involving human trafficking or modern slavery.

Procurement: PMAL has an Outsourcing Policy in place which includes a due diligence process on preferred suppliers. PMAL also aims to ensure that third party suppliers comply with the Modern Slavery Act.

We implement policies applying to all employees, officers, contractors and temporary staff including: Code of Business Conduct and Ethics;

A set of HR policies dealing with recruitment practices, diversity and inclusion, and equal opportunities;

Whistleblowing Policy; and Outsourcing Policy.

All staff will be made aware of the above policies and must confirm they have read and understood them on joining the business.

This statement was approved by the Board of Directors of PMAL:

Colin Grint

Chief Executive Officer

Premia Managing Agency Limited 9 May 2022