This statement outlines the steps that Apollo Syndicate Management Limited (ASML) and all managed entities have undertaken to ensure that human trafficking and modern slavery are not taking place within its business or supply chains.
1.1 ASML Business
ASML is an independent specialist insurer and reinsurer across a number of specialty lines. Apollo offers adaptable and flexible underwriting services at Lloyd’s and leads a number of London market consortia, through an empowered, inclusive and diverse team.
Apollo’s market-leading talent has allowed the business to spearhead sharing economy initiatives such as ibott (“insuring businesses of tomorrow, today”), as well as to form a diverse portfolio of long term partnerships. Apollo creates value through innovation, creativity and service excellence, as well as through a sustainable approach to the community and environment. ASML manages three syndicates, 1969, 1971, and 1994, as well as a special purpose arrangement syndicate 6133. Syndicate 1969 writes across a range of classes of business including Property Binding Authority, Property Direct & Facultative, Property Treaty, Crisis Management, Cargo & Specie, Marine & Energy Liability, Casualty/Liabilities, Speciality Disruption, Product Recall, Marine Hull, and Energy & Aviation. Syndicate 1971 is a market leader specialising in the sharing economy. Syndicate 1994 provides legacy reinsurance solutions and has been created through a strategic partnership with Compre Group. SPA 6133 is currently being managed to an orderly run off and no longer writes business with effect from January 2022.ASML has one office located within the UK with staff primarily being based in the UK.
ASML utilises outsourced business processing and operational services from RMS and WNS who operate from India, and Compre also have an office in Malta. Both ASML and Lloyd’s of London are regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
1.2 ASML Approach
Part of ASML’s vision is to achieve market-leading returns through a sustainable approach to our community and environment. These are further supported by the ASML ESG strategy which is publicly available and aims to hold the ASML Board accountable for all ESG-related issues as well as to drive positive action.
The ASML vision and purpose are underpinned by a set of Values which are at the heart of everything ASML does.
These values aim to ensure we continue to develop, challenge and remain committed to creating a diverse and inclusive workplace.
‘Taking responsibility for our impact on others’ is one of the key values and clearly aligns with a commitment to preventing modern slavery both within ASML operations and its broader supply chain. The ASML Board has an ‘ESG Group’ whose purpose is to help to steer ASML’s ESG strategy and identify areas for development. The ASML ESG Strategy is aligned to five of the 17 UN Sustainable Development Goals, three of which are supported by helping eradicate modern slavery:
- Good health and well-being
- Decent work and economic growth
- Reduced inequalities