Modern Slavery Statement
This statement is made pursuant to section 54(1) of the Modern Slavery Act 2015 and constitutes the Asta Group’s commitment to adherence to the Act.
Structure of Asta
The Asta group (“Asta”) comprises Asta Capital Ltd and all its subsidiaries, including the regulated entities, Asta Managing Agency Ltd and Asta Underwriting Management Ltd.
Asta Managing Agency Ltd (AMA) is a Lloyd’s managing agent, authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA. AMA manages a number of Lloyd’s syndicates and Special Purpose Arrangements.
Asta Underwriting Management Ltd (AUML) is a Managing General Agent (MGA), authorised and regulated as an insurance intermediary by the FCA. AUML manages a number of Appointed Representatives and other MGA clients.
The Asta group has over 118 employees in the UK and an annual turnover of £37m for the financial year ending 31 December 2016.
Asta recognises its obligations to all those with whom it has dealings – shareholders, employees, customers, clients, professional and regulatory authorities, suppliers, competitors and the wider community. Asta demands and maintains the highest ethical standards in carrying out its business activities.
We are committed to ensuring that there is no modern slavery and human trafficking in any part of our business or supply chains.
Our Supply Chains
Our supply chains are limited and we believe that the risk of the Asta group becoming involved in the support or encouragement of slavery, human trafficking or forced labour is minimal. Asta outsources some functions to reputable professional firms and indirectly utilises the services of third parties for office management. Our suppliers are expected to operate to the highest professional and ethical standards and to comply with all local and national laws and regulations.
As part of our initiative to identify and minimise the risk of slavery and human trafficking occurring within our business and supply chain, we:
- Identify and assess potential risk areas in our supply chains.
- Mitigate the risk of slavery and human trafficking occurring in our supply chains.
- Monitor potential risk areas in our supply chains.
- Make our suppliers aware of our standards and zero tolerance of human rights abuse.
Our working practices respect and uphold all human rights for our partners, employees and contractors. To ensure a high level of understanding of the risks of modern slavery and human trafficking in our supply chains and our business, we have a range of policies that are published to all staff. These include:
- Anti-Slavery and Human Trafficking Policy;
- Whistleblowing Policy;
- Ethics Policy;
- Financial Crime Policy;
- Anti-Bribery Policy; and
- Outsourcing Policy
Staff reporting any concerns or breaches of any policy are protected by the Whistleblowing Policy.