Corporate governance
Find out more about our leaders, values, culture and governance.
Overview
WPA is a not-for-profit, private company, limited by guarantee. Our status as a company limited by guarantee is not common in today's financial services marketplace. So what exactly does this mean? Well, we don't have any share capital and instead have Members rather than shareholders, meaning we are reliant solely on our own resources. As a 'not-for-profit' specialist health insurer, any surplus income we may make is reinvested or used to promote our not-for-profit objectives.
The Board, comprising largely of independent Non-Executive Directors, has responsibility for the overall leadership of WPA, its strategic direction and its values and culture. Collectively, the Board is responsible for the Group's system of Corporate Governance.
The Association adopts and complies with its own Code of Corporate Governance to mirror the Financial Reporting Council's 2024 Code where applicable. We are committed to continually improving upon our already well-established governance arrangements with the Board of the Association reviewing the Code of Corporate Governance at least once a year.
Transparency, openness and honesty
We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Our registration can be checked on the Financial Services Register - No. 202608.
As a regulated entity and because of our size, we are required to publish a number of reports annually. You will find all these reports below, along with those from previous years. Please note that some are within our Annual Report and Accounts.
Annually, on a voluntary basis, we produce a Customer Money Procedures Controls Report in accordance with the International Standard on Assurance Engagements (ISAE) 3402. Our external auditors provide an assurance report as part of this document, which is intended for our customers and prospective customers and is available to view on request.
Previous Years Reports
Roles and responsibilities
Those that govern the Association have distinct roles and responsibilities. An overview of these roles and responsibilities is detailed below:
WPA maintains a minimum of 40 Members of the Association. We have three categories of Member: a Permanent Member; Director or Officer Members; and Ordinary Members.
Our Members collectively undertake a governance role. They are the guardians of the culture, ethos and purpose of the Association. Members are asked to consider and approve matters of significance, reserved by the Articles of Association, in the development of WPA. These changes might include significant transactions, the appointment of a new Director, appointment of the Association's auditors or changes to the constitution of WPA. Our Members can also ask questions of the Chairman and the Chairs of each Board Advisory Committee.
Members do not derive any monetary benefit for their role. Conversely, they have a personal liability limited to £100 should the Association be wound up.
Owing to the importance of the governance role that they exercise, any new members must complement the existing wide diversity of age, skills and background. All of our Members are approved by the Board, on the recommendation of the Nomination and Governance Committee; thereafter, approval is required by the remainder of the Members in General Meeting.
The WPA Group
At WPA, strong governance, clear structures, and experienced leadership ensure we deliver long-term value and stability. Our governance framework provides oversight and accountability, our subsidiaries bring expertise across different sectors, and our leaders guide us with vision and integrity.
WPA Board Diversity and Inclusion Policy
The purpose of this Board Diversity and Inclusion Policy is to set out WPA's approach to diversity and inclusion. The Policy encompasses the Board, its Committees, Senior Management and subsidiaries within the WPA Group, including the WPA Healthcare Practice Plc and WPA Protocol Plc.
This Policy does not apply to WPA employees as they are covered by the WPA Equal Opportunities Policy, reviewed annually by the Personnel Committee.
Policy Statement
WPA is committed to developing a diverse Board and for the principles of diversity to flow through and from its Committees and wider Group. This includes ensuring that there is a diverse pipeline for succession.
WPA encourages a diversity of approach, skills and experience on the Board, so that potentially complex and technical issues can be thoroughly probed and discussed.
WPA recognises that diversity is essential to ensure that there is difference of opinion and a contribution of different ideas and views to enable well rounded Board discussion and decision making.
Inclusion is of paramount importance and differences of background, culture, religion and belief, race, gender, sex, sexual orientation and age are all supported. A differentiation of personality, work style, industry experience and other distinctions are also supported.
In considering appointments, WPA always consider relevant skills. WPA's Policy is to ensure that the Board is comprised of directors of the highest calibre, with an appropriate range of qualifications, knowledge and relevant experience. At all times we pay due regard to the benefits of diversity, including but not limited to gender, without compromising on the calibre and suitability of Directors.
Ultimately, any candidate is assessed objectively on merit to ensure that the Board, its Committees and Senior Management have the correct balance of skills, experience and knowledge.
This Policy was adopted by the Board: 28 January 2026
Modern Slavery Act Statement
The WPA Group is committed to ensuring slavery and human trafficking does not occur within our organisation or in our supply chain. Our Modern Slavery Act Statement summarises steps we have put in place to achieve this.
Modern Slavery Act Statement
Pursuant to s.54 of the Modern Slavery Act 2015
This statement is made on behalf of the WPA Group, including WPA World Class Services (India) Pvt Ltd, WPA Protocol Plc and the WPA Healthcare Practice Plc.
WPA is a leading UK private medical insurer, also offering cash plans and third-party administration of Healthcare Trusts. The WPA Group's suppliers are almost exclusively UK based. Less than 1% of the Group's total expenditure takes place outside of the UK. As at the 31 December 2025 the WPA Group had 470 UK employees and 84 employees in India. The WPA Group adheres to all applicable laws in the jurisdictions where it operates and is a signatory to the Real Living Wage in the UK, ensuring fair payment of our own staff and of the staff of suppliers under our direct control.
Since the introduction of the Modern Slavery Act 2015, the WPA Group has taken the following steps to ensure slavery and human trafficking does not occur within our organisation or in our supply chain:
- Appointed the Chief People Officer supported by the Chief Executive to be responsible for anti-slavery and human trafficking, and publicised this appointment across the WPA Group and its supply chain;
- Produced a Modern Slavery Policy which applies to the WPA Group and all those within our supply chain. This Policy is formally adopted by the Board annually, thereafter it is distributed to all staff;
- Undertaken annual risk assessments, and sought confirmations of compliance with the Modern Slavery Act 2015 from a number of our suppliers, in particular those in the lower paid sectors, where we have high spend or are based overseas where local legislation may differ;
- Made confirmation of compliance with the Modern Slavery Act 2015 a prerequisite for both new suppliers to WPA and upon renewal of contracts with existing suppliers, where there is a more than remote risk of modern slavery;
- Made consideration of Modern Slavery risks a prerequisite when authorising capital expenditure;
- Established a framework for organisational accountability, to allow for employees and others to raise issues, make suggestions, voice grievances and report suspected or actual slavery or human trafficking. As at the date of this Statement, none have been received;
- Raised awareness amongst our staff and managers across the WPA Group: as to the risks of slavery and human trafficking; on the requirements of the Modern Slavery Act 2015; and its objectives together with our procedures to ensure compliance.
KEY RISK INDICATORS (KRIs)
The following indicators help us monitor modern slavery risks within our business and supply chains.
- Period in the year the Modern Slavery Policy has been in force – 12 months.
- Number of reports/concerns raised in relation to Modern Slavery in the last 12 months – nil
- Number of suppliers who have provided us with their modern slavery statement when asked to do so – 100%
- Number of suppliers identified as being higher risk – 4 (predominantly due to their employees being paid the minimum wage. WPA have requested that salaries be increased to the real minimum wage)
- Number of UK WPA employees subject to pre-employment checks to verify age and their legal right to work in the UK – 100%
- Number of UK WPA employees who have received Modern Slavery awareness training – 100%
- Red flags identified by payroll in relation to pay being paid to a different person - nil
- Level of expenditure outside the UK where the risk is higher - Less than 1%
- Modern slavery concerns or red flags identified during procurement exercises carried out in the year - nil
- There have been no concerns or red flags raised during WPA's procurement exercises.
Effectiveness of Our Approach - Statement
We consider the effectiveness of our modern slavery approach by assessing whether our actions lead to meaningful reductions in risk, stronger supplier practices, and improved protection for workers across our operations and supply chain. Our focus is on outcomes and behavioural change rather than activity counts alone. We believe that by maintaining stakeholder awareness, and vigilance over our transactions the risk of Modern Slavery in our supply chain has been reduced.
In summary, we remain committed to ensuring there is transparency in our business and in our supply chain, and we expect the same standards from our suppliers and service providers. This applies to all persons who work for us in any capacity, including agency workers and business partners.
This statement was approved by the Board on the 26 March 2026.
Nathan Irwin
Chief Executive
26 March 2026
Gender Pay Report
The following Gender pay reports are produced in accordance with the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017.
The WPA Foundation
See how the WPA Foundation is making a real difference with the support it offers to schools and families across the UK. From funding vital equipment to providing healthy breakfasts, read inspiring stories of happier, healthier, fitter lives in our communities.
The WPA Foundation
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Business schemesComplaints
We strive to offer the highest standards of service, but occasionally mistakes do happen. We are one of the few insurers to volunteer details of ombudsman complaints against us.
Complaints procedure