The Collinson Group Limited
Annual report and financial statements

Director’s statement of compliance with duty to promote the success of the Company(Section 172 statement)
The Directors are aware of their duty under section 172 of the Companies Act 2006 to act in the way they would
consider, in good faith, would be most likely to promote the success of the Group for the benefit of its members
as a whole and, in doing so, to have regard (amongst other matters) to:––––––

the likely consequences of its decisions in the long-term;
the interests of the Group’s employees;
the need to foster the Group’s business relationships with suppliers, customers and others;
the impact of the Group’s operations on the community and the environment;
the desirability of the Group maintaining a reputation for high standards of business conduct; andthe need to act fairly as between members of the Group.

Corporate Governance
The Group maintains a corporate governance framework of Board and Committees to operate strategic andmanagement decision making. Terms of reference and levels of authority and escalation are clearly defined anda calendar of regular Board and Committee meetings are held. Information is provided to the Board in advanceof the meeting and decisions and Minutes are recorded.
The Board are committed to a robust culture of governance, conduct and ethics reflecting the values of theCollinson Group. Decisions are made considering the impact on the long-term business strategy and considering
the impact to multiple Stakeholders.

Collinson Culture
Collinson has a vast global footprint, operating in every continent and proudly employing a diverse workforce
across a wide range of disciplines. Our people and clients sit at the heart of our strategy, and our teams work
globally with a unified focus to share our deep expertise in helping our clients to acquire, engage, retain, andmonetise customers. We continue to respond to the changing needs and expectations our people have of themodern workplace and remain committed to providing a great experience for them, where their talents arerecognised and nurtured while supporting their overall well-being.
Collinson was built with an entrepreneurial and creative spirit, which is still a cornerstone of our business culture.
We have strong company values, which play a key role in guiding how we do business and with the global
communication platforms it is now easier for our people to connect and collaborate with one another, wherever
they might work.

17The Collinson Group Limited
Annual report and financial statements

Our Stakeholders(i)
Employees
Collinson operates a framework for employee engagement, development, information, and consultation. Ourinvestment in communication platforms has increased the flow of communication across the business andenabled continued operations as the Group took the decision for all staff to work remotely during the COVID-19
pandemic.
Employee engagement and wellbeing is paramount to the success of the business. Collinson undertake acontinuous employment engagement programme including performance, training, and skills development. Allemployees are required to undergo fit and proper assessments and complete annual mandatory training
programmes. We positively promote diversity in all areas of the business and support the health and wellbeingof all our staff. We undertake regular ‘pulse’ surveys to provide meaningful feedback from employees across thebusiness and can respond accordingly.
We are committed to equal opportunities in employment and creating a workplace where everyone is treatedwith fairness, dignity, and respect. It is our policy to ensure that all employees are treated no less favourably on
the grounds of disability and are not subject to unlawful discrimination. This policy applies to all aspects ofemployment including recruitment and selection processes, opportunities for training, development andpromotion, and terms and conditions of employment. Through its policies, the company ensures that entry into,and progression within, the company is based solely on personal ability and competence to meet set job criteria.
The company ensures that all our employment policies, practices and procedures are accessible for disabled
people, providing reasonable adjustment where appropriate.
As a direct result of the COVID pandemic and the need to manage costs, we have continued to place some roles
on the Government furlough scheme and equivalent employment support programmes across the regions weoperate in. We have continued to consult with all staff on a regular basis maintaining open and transparent
communications regarding the impact of COVID on the operations and performance of the business.
(ii)

Suppliers and Outsourced arrangements

We outsource activity across many of our divisions and undertake due diligence, oversight, and regular
engagement with all outsourced providers. Travel Experiences operates through a network of lounge partners
managed by a dedicated team; Insurance outsource distribution, claims handling and the actuarial function toexternal partners and suppliers; Assistance work with a network of medical assistance providers across theglobe, Loyalty operate technology systems dependent on strategic technology alliances and Airport Lounge
operations are outsourced to specialist hospitality providers . Developing key strategic partnerships with ouroutsource partners has given us the ability to continue to grow and expand our portfolio of activity.
(iii)

Clients

Each division engages closely with key clients ensuring a synergy of strategic objectives, culture, and values. The
Group has worked closely with its key clients with a particular focus on what impacts COVID-19 may have hadon their business activities. This has helped the Group to inform the recovery profile and associated businessplanning, as well as influence on future proposition and customer needs.

18The Collinson Group LimitedAnnual report and financial statements(iv)

Customers

The Group’s propositions and digital services for customers was established well in advance of COVID-19. This
capability, together with the investment in broader technology to support contactless transactions working
which was undertaken in the prior financial year has supported the development of the business for improved
customer experience and safety. Our access to customer data and intelligence provides us with an understandingof customer needs and demands, to feed our product development and improve customer experience. In
Insurance, we have regular communication with customers via sales, service and claims journeys to influence
product design and operational strategies such as online claims.
(v)

Regulators

Subsidiary companies within the Group are regulated by the Financial Conduct Authority, the Prudential
Regulation Authority (PRA), and Maltese Financial Services Authority (MFSA). We have open and transparent
relationships with the regulators and notify any relevant events through the appropriate channels. We havemeetings with the PRA and MFSA as required to discuss changes or developments to strategy and business plans.
(vi)

Shareholder

The Company is 100% owned by Parminder Limited. The Company report to the Shareholder on performance,business strategy and return on investment as required. Subsequent to the end of the year the Group underwent
a group reconstruction as part of the financing agreement signed 2 July 2021. See Note 34 to the financial
statements for further information.
(vii)

Environment

The Travel and Financial Services industries are our main target sectors, both of which are increasingly steppingup their efforts to minimise their environmental impact. As a strategic partner to our clients, Collinson remains
committed to playing an important role in supporting these aims and ensuring that we drive improvements inenvironmental and ethical practices throughout our own supply chain and activity. Each of our global offices isfocusing on continuous opportunities to improve our sustainability efforts, ranging from the reduction of plastic
waste to how we can maximise the use of technology to reduce the need for travelling between offices.
(viii)

Community

We believe that we do not have to choose between making meaningful change and running a successful
business. We want to be more than just a profitable company or market leader and we measure our success by
the impact we have on those around us. We make sure our actions and decisions are guided by our values, andalways push ourselves and our wider networks to treat people fairly and operate in a socially, environmentally,and economically sustainable way. We know the passion and dedication of our team can make a real difference
to causes we care about.
Giving back to our local communities through charitable giving and volunteering has always played an importantrole at Collinson. That is why every time one of our people raises money for a good cause, Collinson matches it
by up to £250. We know that giving time can be just as valuable as money, so we also provide one day of paid
leave for those who wish to contribute their time and talents to recognised charities, causes or not-for-profit
organisations.

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