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MODERN SLAVERY ACT

This statement is published in accordance with the UK’s Modern Slavery Act 2015 (“the Act”).

It sets out the steps taken by Aspen Insurance UK Limited and other relevant group companies[1] to ensure that slavery and human trafficking do not exist in our business or supply chains.

Policies

We have prepared and will shortly implement an amendment to our Code of Business Conduct and Ethics, applicable to all employees in the Group, to state that Aspen takes a zero tolerance approach to slavery and human trafficking and is committed to ensuring that there is no slavery or human trafficking in our business or supply chains. This is reflective of the Code’s general commitment to integrity in the conduct of our business and the requirement that all Aspen employees perform their duties in a manner which is legally, ethically and morally irreproachable.

Other relevant policies, including our Outsourcing Policy and Procurement Policy, have also been reviewed and amended to highlight the need to consider slavery and human trafficking issues when selecting and engaging with suppliers.
We have a Whistleblowing Policy under which employees can report any issues or concerns they may have regarding slavery or human trafficking in our business or supply chains.

Engagement with suppliers

We have reviewed our spend data to assess the number of suppliers, their location and the nature of the goods or services they provide. This will form the basis of a further risk review.
Our tender template includes a statement that Aspen is committed to ensuring that slavery and human trafficking do not exist in our business or supply chains. Bidding suppliers are required to include their relevant policies and procedures as part of their tenders.
Our standard purchasing terms require that a supplier must comply with the provisions of the Act in relation both to its direct employees and to its suppliers and ensure that neither it nor its supply chain makes use of slavery, forced or bonded labour or human trafficking.

Awareness and training

All Aspen employees have been made aware of the Act, the changes to our policies and the commitments these represent. More in-depth training has been given to our Procurement team and to key spending departments.

Next steps

In the financial year to 31 December 2017 we shall review our spend data to assess which suppliers represent the greatest risk to managing slavery and human trafficking in our supply chain, based on their location and the nature of the goods or services provided.

We will contact those suppliers representing the greatest risk, as well as all our major suppliers by value, to ascertain how they are ensuring compliance with the requirements of the Act.

Approval of this statement

This statement was approved by the Boards of Aspen Insurance UK Limited, Aspen Managing Agency Limited, Aspen Insurance UK Services Limited, Aspen UK Syndicate Services Limited and Aspen Risk Management Limited.

 

Karen Green
CEO, Aspen Insurance UK Limited
June 2017

 

[1] This statement sets out the steps taken by Aspen Insurance UK Limited, Aspen Managing Agency Limited, Aspen Insurance UK Services Limited, Aspen UK Syndicate Services Limited and Aspen Risk Management Limited.