Just Annual Report and Accounts 2024

Governance Financial Statements

Strategic Report

STRATEGIC PRIORITIES Grow sustainably

Scale with technology Reach new customers Be recommended by our customers Be proud to work at Just

REGULATORS

SUPPLIERS

Organisations who regulate the conduct of firms and their financial stability.

The companies providing the services, materials and resources to enable Just to operate the businesses in the Group.

Link to Strategic Priorities

HOW WE ENGAGE

• Formal meetings with regulators. • Written responses to consultation documents and regulatory requests. • Participation in workshops directly with regulators and via trade associations.

• Regular performance reviews of our key suppliers enable all parties to understand expectations and support each other to optimise delivery. • Oversight of controls to mitigate risks and to ensure the delivery of good customer outcomes. • Written feedback following each tender process to explain the outcomes. • Conflicts of interest checks, ensuring advantages are not gained through personal relationships. • Sanctions screening, ensuring that Just and its suppliers are free from financial crime risk.

WHAT MATTERS TO THEM

• Boards and senior management understand the regulatory objectives, and seek to ensure good consumer outcomes are achieved and policyholder commitments are met. • A culture that supports adherence to the spirit and letter of regulatory rules and principles. • Foster open and transparent communications with our regulators. • Positive engagement to encourage effective competition and consumer protection which results in better customer outcomes.

• Collaborative relationships with open, honest and transparent communications. • Fair, transparent and objective process and evaluation criteria when bidding for new business. • Fair payment terms which are consistently met within deadlines.

HOW WE ADDRESS THESE CHALLENGES

• Continue to respond to regulators in a timely and constructive manner and engage directly on any key regulatory matters and thematic reviews. • Implement plans to ensure that new regulatory requirements are met. • Active participation in policy development directly with regulators and via trade bodies. • Timely preparation and filing of regulatory returns.

• Our procurement and outsourcing policy ensures that tender processes are fair and transparent, and all suppliers receive feedback on submissions. All suppliers are expected to adhere to relevant legislation and regulatory regimes, and to act ethically and with integrity. Risk-based assessments ensures all suppliers receive the relevant level of governance oversight and interaction with Just. • Clearly defined performance metrics are agreed with our key suppliers at the outset to measure ongoing success. • Supplier Code of Conduct: A regulatory obligation for Just to make new suppliers aware of relevant internal policies.