Section 172 (1) Statement

Argenta Holdings Limited

The Directors of Argenta Holdings Limited (“the Group” and/or “the Company”) and its UK subsidiary companies confirm that in discharging their duty to promote the success of the Company, they have regard to the matters as set out in Section 172(1) (a) to (f) ("s172") of the Companies Act 2006 ("CA").

The Directors are aware of their responsibilities to take into consideration the interests of all stakeholders in their decision making process and to promote the success of the Group in accordance with s172 of the CA. The Directors continue to pay full regards to the interests of the Group's stakeholders, including the impact of its activities on its employees, shareholder, capital providers, regulators, customers, suppliers, the community, the environment and on the Group's reputation. Whilst always acting in good faith and exercising fairness and equality, the Directors also consider what is most likely to promote the success of the Group in the interests of its member.

The importance of giving due consideration to all stakeholders is a continuous and ongoing process and includes the following:

• The Directors fully understand the commitment to act responsibly towards the Group’s sole shareholder and its ultimate controlling party and to act in accordance with the standards set by them.
• The Directors continue to promote the success of the Group through expansion of its support of the activities carried out by its trading subsidiaries as referred to in the Strategic Reports of each of the entities in question. The Group's current dividend policy is to retain an element of its profits for future reinvestment in such activities. 
• The Group has a diversity and inclusion policy that sets out the principles underpinning the approach to ensuring fairness and equality in the workplace across all levels of the organisation. In accordance with a commitment to diversity and inclusion, the Group is signed up to the Lloyd's Diversity and Inclusion Charter, which makes a public pledge to champion diversity and positive change. Ethnic minority representation within the Group remains stable, marginally above that within the Lloyd’s market more generally. The Group strives to increase under-represented groups within its workforce.
• The Directors continue in their commitment to ensure that the Company maintains a healthy culture and working environment, which includes ongoing consideration of internal policies and procedures. The Company clearly articulates its culture, vision and purpose which are communicated to all employees by way of Town Hall meetings and internal executive briefings as well as being prominently displayed throughout the Company’s premises, on its intranet and on its website. This enables all employees to gain a better understanding of what the Company stands for and its ultimate objectives in the overall context of the Group.
• The Company has a Behavioural Framework for its employees which is designed to ensure that employees understand the core values and behaviours to which they are expected to observe for the benefit of both the employees and the business as a whole to expand its activities. Training on the expected behaviours at all levels has been provided to all employees and adherence to these is annually assessed and monitored as part of the employee performance appraisal process.
• The Argenta Corporate Social Responsibility working group recently developed a new paid volunteer leave policy designed to encourage its employees to give back to the community and other charitable causes on both an individual and team basis. The Company has a number of charitable organisations with which it partners with fundraising events and other opportunities throughout the year.
• The Directors understand that the quality and experience of their employees are fundamental to the success of the Group and the quality of its services. The Directors consider the training and development of its workforce to be key and therefore promotes a commitment to training both internally and externally to attain relevant professional qualifications. Further commitment is made in the area of continuing professional development to ensure that its diversely qualified employees continue to remain competent and proficient in their roles and have the essential skills to support the success of the business.
• The Group is committed to the health, safety and wellbeing of its workforce, offering comprehensive health insurance and life cover and contributions to a defined contribution pension scheme. It has a hybrid-working environment for its employees to address the changing social environment. The Directors understand the importance of providing greater education and support for mental health issues in the workplace and continue to provide trained Mental Health First Aiders and to support the Employee Assistance Programme designed to offer further support to employees.
• The Company is fully committed to supporting the wellbeing, personal development and work-life balance of its employees who are offered an Annual Wellbeing Allowance designed to support and contribute to this. Furthermore, in recognition of its employees’ long-term commitment, the Company now offers an extended sabbatical leave policy which offers greater opportunity for personal and professional growth.
• The Group is fully committed to working responsibly with its suppliers ensuring that those in the supply chain do not engage in slavery or human trafficking and regularly reviews its policies and procedures to ensure that they are up to date and reflect the changing regulatory environment. In addition to a periodic review of material outsourced arrangements, there are whistleblowing procedures in place to ensure that employees can raise any concerns they may have. No whistleblowing incidents were reported to the Company in 2024.
• The Group has a large, diverse number of customers and capital providers associated with various divisions of its business. The subsidiary companies strive to work closely with their customers and capital providers to fully understand their needs and always operate on the basis of treating customers fairly. It continues to seek to grow Syndicate 2121 to achieve greater economies of scale and improve returns for the capital providers. It is also mindful to ensure it maintains equity between its different capital supporters.
• The Group works very closely with Lloyd's and other regulators, including those overseas. It places a high degree of importance on understanding and fully complying with the regulatory requirements that are set.
• The underwriting policy of the Group’s managed Syndicates is aligned with that of Hannover Re, which is targeting not to provide cover in respect of new coal-burning power stations or new thermal coal mines and the associated infrastructure on a direct or facultative reinsurance basis, and to effect a phased plan for the gradual withdrawal from such risks written on a treaty basis, by the year 2038. The bespoke investment mandate adopted by the Group is aligned with Hannover Re's environmental, social and governance criteria.
• The Company continues in its commitment to uphold its obligations under the primary financial crime legislation in the United Kingdom, which are: the Proceeds of Crime Act 2002, UK Terrorism Act 2000, Bribery Act 2010, Criminal Finances Act 2017, Fraud Act 2006 and the financial and trade sanctions regimes of the His Majesty’s Treasury. The Company also considers international sanctions regimes such as those issued by the US Office of Foreign Assets Control, the European Union and the United Nations.
• The Company employs a Group Financial Crime Framework which requires full due diligence of all its clients at the onboarding stage and throughout their relationship with the Company. Additionally, all employees receive mandatory financial crime training prior to passing their probation and periodically thereafter throughout their tenure at the Company.

Argenta Secretariat Limited (ASL)

Where ASL provides Company Secretarial services to a company and that company is subject to the reporting requirements of Section 414CZA(1) of the CA, ASL affirms on behalf of the Directors of such companies, that they have regard to the matters set out in Section 172(1) (a) to (f) of CA when performing their duties:

a) the likely consequences of any decision in the long term;

b) the interests of the company's employees;

c) the need to foster the company's business relationships with suppliers, customers and others;

d) the impact of the company's operations on the community and the environment;

e) the desirability of the company maintaining a reputation for high standards of business conduct; and

f) the need to act fairly as between members of the company.

For further information as to how the Directors of each relevant company are complying with their statutory duty under s172 of the CA, please refer to the Strategic Report within the Annual Report and Financial Statements of each company which can be found on the Companies House website.