It is our policy to focus on the long-term relationship with our clients as well as their interests. To achieve this, it is important that we have qualified and committed employees.
Our remuneration policy is designed in such a way that it contributes to attracting and retaining the right employees. We ensure that our remuneration policy does not incentivise excessive risk taking or unfair or treatment of clients.
Geo Underwriting Europe B.V. staff’s remuneration is made up of a fixed and variable portion. The variable element is dependent on staff role, company performance and individual performance, and does not exceed levels stipulated in the Dutch Remuneration Policy (Financial Enterprises) Act.
In order to be able to assess an individual’s performance, objectives are agreed annually, divided into four categories: customer, people, business delivery and risk & compliance. Formal appraisal against an individual’s objectives takes place at least twice a year (year-end and mid-year). There are no individuals with remuneration as referred to in Article 1:120 paragraph 2a of the Dutch Financial Supervision Act.