ETHICS

Ethical conduct is an integral component of running our business successfully for the long term.

As we continue to deliver our strategic intent to grow our business and increase our presence in global markets, we want IAG to be internationally known as a business that can be trusted and which conducts itself with the highest ethical standards.

'The Way We Choose To Do Business' – The IAG Code of Ethics

'The Way We Choose To Do Business' provides a framework to help all of IAG’s people make good, informed business decisions and to act on them with integrity.

• IAG Code of Ethics – English [128KB PDF]
• IAG Code of Ethics – Mandarin [733KB PDF]
• IAG Code of Ethics – Thai [218KB PDF]

'The Way We Choose To Do Business' does not spell out how we must act in every situation, nor does it replace our policies. Rather, it sets out our basic ethical principles to guide all of our people when they make a judgement and act in any given situation.

Our Ethical Principles

The ethical principles set out in 'The Way We Choose To Do Business' are organised into four areas:

1. The Way We Operate – Our Governance
2. The Way We Work – Our People
3. The Way We Help – Our Customers
4. The Way We Help to Reduce Risk – The Community and The Environment.

These principles will assist us in:

• determining the most appropriate way to deliver on the IAG promises of paying claims, understanding and pricing risk, managing our costs and reducing risk.
• bringing the IAG values of integrity, transparency, teamwork, meritocracy and social responsibility to life in our daily behaviour.

Everyone at IAG is responsible for achieving the highest levels of business conduct and is accountable for ensuring that their decisions and actions are consistent with the ethics principles set out in the IAG Code of Ethics.

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Implementing the IAG Code of Ethics

We believe that effective and successful take-up of the Code must focus on achieving cultural alignment across all of our operations and embedding our values and ethics in behaviour. We understand that this will involve a period of evolution, particularly for operations that we have recently acquired.

Accordingly, the Code will be rolled out across our operations over the next twelve months, commencing in September 2007. We will provide training and education to support the introduction of the Code and commit to ensuring that everyone to whom the Code applies will be made aware of their responsibilities.

The IAG Code of Ethics is a living document, and will be subject to annual review to ensure it continues to meet the needs of our stakeholders and changing business environment.

Reporting Ethical Concerns

IAG has a number of mechanisms in place to allow our people to report ethical concerns. These mechanisms are outlined in the IAG Code of Ethics.

All concerns will be taken seriously and addressed in a thorough and professional manner. When potential misconduct is reported, we will investigate and take appropriate action.

IAG will not tolerate retaliation in any form against people who, in good faith, report suspected ethical or legal misconduct or policy violations.

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