Today Is 
 


 QUESTION                     
 YES  NO  LINK TITLE           SECTION      LINK SOURCE                                     
 1. Does the GOCC disclosure a policy that:
         
 a. Stipulates the existence and scope of its effort to address customer's welfare?
    Page 25 - Manual on Corporate Governance
Section 11 - Corporate Social Responsibility (CSR) and Relations
with Stakeholders
c. Formal Recognition of Stakeholders
4. Customerss
Section 11.c.4
"LIBI shall operate a highly effective and efficient organization,
focused on meeting customer objectives with the aim of providing
services which give fair value and consistent quality, reliability and
safety in return for the price paid for the same...."
http://lbp-insurance.com/CODECORGOV.pdf#page=25
 b. Elaborates its efforts to interact with the communities in which they operate?
    Page 23 - Manual on Corporate Governance
Section 11 - Corporate Social Responsibility (CSR) and Relations
with Stakeholders
C. Formal Recognition of Stakeholders
3. Community
Section 11.c.3
"...LIBI supports legitimate activities and programs of NGO’s that
safeguards and improves the state of the environment for future
generations…"
http://lbp-insurance.com/CODECORGOV.pdf#page=23
 c. Ensure that its value chain is environmentally friendly or is consistent with promoting sustainable development?
    Page 26 - Manual on Corporate Governance
Section 11 - Corporate Social Responsibility (CSR) and Relations
with Stakeholders
C. Formal Recognition of Stakeholders
8. Environment
Section 11.c.8
"LIBI should consider that there are inevitable environmental impacts
associated with daily operations. It shall be the goal of LIBI to minimize
harmful effects and consider the development and implementation of
environmental standards to achieve this to be of great importance. As such, LIBI should strongly encourage 3 R’s: Reduce, Re-Use and Recycle."
http://lbp-insurance.com/CODECORGOV.pdf#page=26
 2. Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies?
         
 a. Customer health and safety
    Page 41 - Annual Report (Corporate Social Responsibility)
D. Customer's Health & Safety
CSR.d
"LIBI should aim to ensure a safe and healthy working environment for all its stakeholders especially their clients and visitors..."
 http://www.lbp-insurance.com/2017AnnRpt.pdf#page=41
 b. Interaction with the communities
    Memo regarding the donation of LIBI to LCDFI and Marawi Evacuees
Page 41 - Annual Report (Corporate Social Responsibility)
CSR.b & c
"LIBI donated Two Million Pesos (₱2,000,000.00) to LCDFI for CY2017 to finance the programs and projects intended for LANDBANK’s priority beneficiaries…..LIBI donated One Hundred Thousand Pesos (₱100,000.00) for the evacuees from Marawi City..."

http://lbp-insurance.com/2017CGS/2017_MD.pdf

http://lbp-insurance.com/2017CGS/2017_LD.pdf

http://www.lbp-insurance.com/2017AnnRpt.pdf#page=41

 c. Environmentally-friendly value chain
    Page 40 - Annual Report (Corporate Social Responsibility) CSR.a
"..LIBI released financial support to Manila Bay S.U.N.S.E.T Partnership Program, Inc. (MBSPPI). The said fund was used for the sustainable programs of MBSPPI for CY2017..."
http://www.lbp-insurance.com/2017AnnRpt.pdf#page=40
 3. Does the GOCC have a separate Corporate Social Responsibility (CSR) report/section or sustainability report/section?
    Page 40 - Annual Report (Corporate Social Responsibility)  Two (2) pages for LIBI Corporate Social Responsibility Activities/Report http://www.lbp-insurance.com/2017AnnRpt.pdf#page=40
 4. Where stakeholders interests are protected by law, stakeholders should have the opportunity to obtain effective redress for violation of their rights
         
 a. Does the GOCC provide contact details via the company's website or Annual Report which stakeholders ( e.g. customers, suppliers, general public, etc.) can use to voice their concerns and/or complaints for possible violation of their rights?
    Page 2 - Citizen Charter Feedback and Redress Mechanism
"LBP Insurance Brokerage, Inc., aspires to provide its clientele a better way service. Should you have any complaints, comments and suggestions to improve our services you may write or
coordinate with the below address…"
http://lbp-insurance.com/CITIZEN.pdf#page=2

 5. Performance-enhancing mechanisms for employee participation should be permitted to develop.
         
 a. Does the GOCC explicitly mention the health, safety and welfare policy for  its employees?
   

Page 26 - Manual of Corporate Governance


Page 30 - Annual Report


Section 11.c.7
"...LIBI should aim to ensure a safe and healthy working environment for all its employees…."

Section LIBI Healthcare Services
"...LIBI employees enjoyed healthcare coverage…."

http://lbp-insurance.com/CODECORGOV.pdf#page=26

http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=30
 b. Does the GOCC publish data relating to health, safety and welfare of its employees?

  Page 30 - Annual Report Section Human Resources Management
- LIBI Healthcare Services
- Nationwide Earthquake Drill
- Monthly Pest Control
- Insurance Coverages
http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=30

 c. Does the GOCC have training and development  programmes  for its employees?
   

Page 26 - Personnel Manual


Page 29 - Annual Report

Section Employee Development
"The Company shall offer its employees suitable opportunities for
career development and advancement.:.."
Section Management and Human Resources
"LIBI employees and Board of Directors had received, read and understood the Code of Conduct by accomplishing the Code of Conduct Compliance Commitment Certificate.
As part of LIBI’s continuing program to develop its human resources, LIBI employees were sent to attend the following training programs.."
 

http://www.lbp-insurance.com/PersManual.pdf#page=26

http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=29

 d. Does the GOCC publish data on training and development programs for its employees?
    Page 29 - Annual Report (LIBI Seminars and Trainings) Section Management and Human Resources
COURSE/SEMINAR TITLE
- Basic General Non-Life Insurance Seminar - 9 Participants
- Compliance to the IRR of the Data Privacy Act and Implementation Best Practices - 2 Participants
- Effective Business Correspondence - 5 Participants
- Orientation on Government Procurement Process and Require-ments related to the Grant of FY 2017 PBB - 2 Participants
- Product Briefing on Fire and Engineering - 1 Participant

http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=29
 6. Stakeholders including individual employee and their representative bodies should be able to freely communicate their concerns about illegal or unethical practices to the board and their rights should not be compromised for doing this.  
         
 a. Does the GOCC have procedures for complaints by employees concerning illegal (including corruption) and unethical behavior?
    Guidelines on Whistle Blowing Section D.1 Reporting of Whistleblower
"All reports from whistleblowers must state the specific condition/s, action/s and/or omission/s being complained about, as well as the corresponding laws, rules or regulations allegedly violated. If possible, documentary and other evidence in support of the reports attached to the reports."

http://lbp-insurance.com/WHISTLEBLOWING.pdf
 b. Does the GOCC have procedures to protect an employee/person who reveals illegal/unethical behavior from retaliation?
    Guidelines on Whistle Blowing
Section D.2 Rights of Whistleblowers
"...Protection against Retaliatory Actions subject to the conditions under item D.3 ..."

http://lbp-insurance.com/WHISTLEBLOWING.pdf
 7. Quality of the Annual Report. Does the GOCC's AR disclose the following items:
         
 a. Corporate Objectives

  2017 Strategic Map
Page 4 - Annual Report (Message from the Chairman)
Section Strategic Map
"To be among the top 10 biggest insurance brokerage companies in the country by 2022."
Section Message from the Chairman

http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=13
 b. Financial performance indicators

  Page 7 - Financial Statement
Page 6-7, 32 - Annual Report (Financial Highlights)
Section Financial Highlights
"Return on Equity (ROE) for CY2017 is 7.94 per cent while Return on Asset (ROA) is 6.16 per cent. Both were slightly higher by 0.38 per cent and 0.39 per cent respectively, compared to last year’s ROE of 7.56 per cent and ROA of 5.77 per cent."

http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=33

http://lbp-insurance.com/fs2017.pdf#page=7


 c. Non-financial performance indicators

  Performance Scorecard
Page 14 - Annual Report (Performance Scorecard)
Section Performance Scorecard
"..Developed mi-croinsurance for fisherman & farmers, LIBI sold 3 microin-surance for farmers & 1 for fisherfolks…"
"..98.18% acceptability of the products target for 2017…"

http://lbp-insurance.com/2017PES.pdf

http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=14

 d. Details of whistleblowing policy

  Guidelines on Whistleblowing and Reporting Guidelines on Whistleblowing and Reporting  http://lbp-insurance.com/WHISTLEBLOWING.pdf
 e. Biographical details (atleast age, qualification, date of first appointment, relevant experiences and any other directorships of listed companies) of directors/commissioners

  Corporate Governance Seal - Board of Directors (Members)
Page 88 - Annual Report (LIBI Board of Directors)
Section LIBI Board of Directors

http://lbp-insurance.com/ResBoard.pdf

http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=88

 f. Training and/or continuing education programme attended by each director/commissioner
    Page 17 - Annual Report (Trainings and Continuing Education by the Board)
Section Training and Continuing Education by the Board
"For 2017, some of LIBI Board of Directors attended various training and seminars conducted by different training centers including our mother company Land Bank of the Philippines. Below are the lists of training that they attended:"

http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=17
 8. Are the Annual Reports downloadable from the GOCC's website?
    Annual Report
Corporate Governance Seal
http://www.lbp-insurance.com/2017ANNUALREPORT.pdf
 9. Corporate Governance Confirmation Statement
         
Does the Annual Report contain a statement confirming the company's full compliance with the code of corporate governance and where there is non- compliance, identify and explain reasons for such issue?
    Page 33 - Annual Report
For compliance in CY 2017 Annual Report
Section Highlights of Activities & Initiatives - 2017
"...For the financial year ended 2017, LIBI complied to the code of corporate governance..."

http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=33
 10. Timely filing/release of annual/financial reports
         
 a. Are the audited annual financial report/statement released within 60 days upon receipt from COA?
    Audited Financial Statement
Section Transparency Seal
Receipt Date: May 31, 2018
Uploaded Date: June 1, 2018

http://lbp-insurance.com/fs2017.pdf
 b. Is the Annual Report released within 90 days from the release of the audited financial report?
 
2017 Annual Report
Section Transparency Seal
Audited Financial Statement
Receipt Date: May 31, 2018
Annual Report
Uploaded Date: December 28, 2018

http://www.lbp-insurance.com/2017ANNUALREPORT.pdf
 c. Is the true and fairness/fair representation of the annual financial statement/reports affirmed by the board of directors/commissioners and/or the relevant officers of the company?
  Page 2 - Audited Financial Statement ( Independent Auditor's Report)
Page 44 - Annual Report
Section Independent Auditor's Report
"… Management is responsible for the preparation and fair presentation of the financial statements in accordance with PFRS, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.."

http://lbp-insurance.com/fs2017.pdf#page=2

http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=44

 11. Corporate Vision/Mission
         
 a. Has the Board of Directors reviewed the vision and mission/ strategy in the last financial year?
    Page 15 - Annual Report
Section Strategic Map
"The Vision and Mission of the LIBI was discussed and approved by the members of the Board of Directors during the LIBI's Strategic Planning Presentation with Pres. Alex Buenaventura on March 02, 2017."

http://lbp-insurance.com/2017Stratmap.pdf

http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=15

 b. Does the Board of Directors monitor/oversee the implementation of the corporate strategy?
    Page 8 - Manual on Corporate Governance
Section 2.F.8.c
"..Monitor and evaluate on a regular basis the implementation of corporate strategies and policies, business plans and operating budgets, as well as Management’s over-all performance to ensure optimum results..."

http://lbp-insurance.com/CODECORGOV.pdf#page=8
 12. Did the GOCC achieve 90% in the PES?
  2017 Performance Scorecard
The validated Performance Scorecard is 74.26%
http://lbp-insurance.com/2017PES3.pdf
 13. Code of ethics or conduct
         
 a. Are the details of the code of ethics or conduct disclosed?
    No Gift Policy
Code of Conduct
Page 9 - Manual on Corporate Governance
Section No Gift Policy - A. Objective
"..Republic Act No. 6713 (An Act Establishing a Code of Conduct and Ethical Standards for Public Officials and Employees..."
Section Code of Conduct
Section 2.F.9
"...Directors and Officers are also Public Officials as defined by, and are therefore covered by the provisions of the “Code of Conduct and Ethical Standards for Public Officials and Employees, with its declared policies: a. To promote a high standard of ethics in public service; b. Public officials and employees shall at all times be accountable to the people and shall discharge their duties with utmost responsibility,integrity, competence and loyalty, act with patriotism and justice, lead modest lives, and uphold public interest over personal interest..."

http://lbp-insurance.com/gift.pdf

http://lbp-insurance.com/codeofconduct1.pdf

http://lbp-insurance.com/CODECORGOV.pdf#page=9

 b. Does the GOCC disclose that all Directors/Commissioners, senior management  and employees are required to comply with the code?
    Page 9 - Manual of Corporate Governance
 Section 2.F.10
"...As Public Officials, a Director or Officer shall respect and obey the Constitution, and shall comply, and cause LIBI to faithfully and timely comply,..."
http://lbp-insurance.com/CODECORGOV.pdf#page=9
 c. Does the company disclose how it implements  and monitors compliance with the code of ethics or conduct?
    Page 29 - Annual Report
Section Management and Human Resources
"...The code should be practiced and promoted by the Administrative Unit. LIBI monitors compliance with the code.."

http://www.lbp-insurance.com/2017AnnRpt.pdf#page=29
 14. Does the Board appoint  a Nomination Compensation/Renumeration Committee?
    Page 14 - Manual of Corporate Governance
Page 25 - Annual Report
Section 2.K.d
Section I.F.D
"...The Board shall create a Nomination and Remunerations Committee which may be composed of at least three (3) members and one of whom shall be an independent director.''

http://lbp-insurance.com/CODECORGOV.pdf#page=14

http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=25

 15. Did the Nomination Compensation/Remuneration Committee meet at least twice during the year?  
  Page 26 - Annual Report
Section Nomination and Remunerations Attendance
"...April 16, 2017 and May 5, 2017.''

http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=26
 16. If yes, is the report of the Nomination Compensation/Renumeration Committee publicly disclosed?
    Page 26 - Annual Report
Section Nomination & Remuneration Committee Meetings/Activities
"...April 16, 2017 - Reviewed the duties and responsibilities of each position and discussed criteria and qualifications for promotions of LIBI personnel...May 5, 2017 - Finalized the duties and responsibilities of each position on the Marketing, Accounting and Administrative Unit.''
http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=26
 17. Does the Board appoint  an Audit Committee?
    Page 21 - Annual Report
Section I.F.B - Audit & Risk Committee
"...LIBI Audit & Risk Committee is chaired by Director Yolanda D. Velasco with the following members: Director German S. Caccam, Director Daisy M. Macalino, Director Jennifer A. Tantan, Director Eusebio A. Cortez...''

http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=21
 18. If yes, is the report of the Audit Committee publicly disclosed?
    Page 23 - Annual Report
Section Audit & Risk Committee Meetings/Activities
"...March 28, 2017 - Discussed the 2016 COA findings...May 11, 2017 - Discussed the Audit Observations of COA...''

http://www.lbp-insurance.com/2017NNUALREPORT.pdf#page=23
 19. Does at least one member of the Audit Committee have an audit, accounting or finance background  (qualification  or experience)?
    Page 89 - Annual Report
Section The LIBI Board of Directors- YOLANDA D. VELASCO Profile
"...Educational Attainment:...Master in Business Administration...CPA Board Examination...''

http://lbp-insurance.com/yolanda.jpg

http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=89

 20. Did the Audit Committee meet at least four times during the year?
    Page 22 - Annual Report
Section Audit & Risk Committee Attendance
"...March 28, 2017, May 11, 2017, September 13, 2017...''

http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=22
 21. Does the Board appoint a Risk Management Committee?
  Page 15 - Manual of Corporate Governance
Page 22 - Annual Report
Section 2.K.e - Risk Management Committee
"...The Risk Management Committee shall consist of at least three (3) members, with at least one member having a background in finance and investments..."
Section I.F.B - Audit & Risk Committee
"...LIBI Audit & Risk Committee is chaired by Director Yolanda D. Velasco with the following members: Director German S. Caccam, Director Daisy M. Macalino, Director Jennifer A. Tantan, Director Eusebio A. Cortez...''

http://lbp-insurance.com/CODECORGOV.pdf#page=15

http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=22

 22. If yes, is the report on Risk Management  Committee publicly disclosed?     Page 23 - Annual Report
Section Audit & Risk Committee Meetings/Activities
"...March 28, 2017 - Discussed the 2016 COA findings...May 11, 2017 - Discussed the Audit Observations of COA...''

http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=23
 23. Does at least one member of the Risk Management  Committee have a background  in finance and investments?
    Page 89 - Annual Report Section The LIBI Board of Directors - YOLANDA D. VELASCO Profile
"...Educational Attainment:...Bachelor of Science in Business Administration and Accountancy (BSBAA)...Master in Business Administration...CPA Board Examination...'

http://lbp-insurance.com/yolanda.jpg

http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=89

 24. Board meetings and attendance
         
 a. Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1     Page 11 - Annual Report
Section I.C. BOARD IN ACTION
"...The Board of Directors in its first meeting for 2017 set the calendar of Board meeting to every 4th week of the month. The Board acted upon the following resolutions for CY 2017....''

http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=11
 b. Does the Board of Directors meet at least monthly?
    Page 16 - Annual Report
Section I.D. Board Performance and Attendance
http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=16
 c. Did the Board of Directors meet on at least 75% on their scheduled meetings?
    Page 16 - Annual Report
Section I.D. Board Performance and Attendance
The Board of Directors meet on 98.57% in average on their scheduled meetings
http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=16
 d. Has each of the directors/commissioners attended at least 90% of all the board meetings held during the year?
  Page 16 - Annual Report
Section I.D. Board Performance and Attendance
Director Olegario got 85.71% in his attendance which is below 90% of all the Board Meetings held during the year.

http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=16
 e. Did the Board of Directors meet separately at least once during the year without the President/CEO present?   Page 16 - Annual Report
Section I.D. Board Performance and Attendance
Mr. Tomas T. de Leon, Jr., Officer-in-Charge as President & CEO of LIBI attended all the Board Meetings.

http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=16
 25. Access to information          
 a. Does the GOCC have a policy that stipulates board papers for Board of Directors/Commissioners meetings be provided to the Board at least three (3) working days in advance of the board meeting?
    Page 15 - Annual Report Section Material Submission of Board of Directors Meeting
"Deliveries of material for Board of Directors/Commissioner schedule meetings is three (3) calendar days before the meeting but in some cases the material is deliver one (1) days before the meeting."
http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=15
 b. Is the Board Secretary trained in legal, accountancy or company secretarial practices?
    Page 90 - Annual Report
Section LIBI Board of Directors - Atty. Reynauld R. Villafuerte
"..He has been the Corporate Secretary and Legal Counsel of the Corporation.."

http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=90
 26. Internal Audit          
 a. Does the company have a separate internal audit function?
     None    
 b. Does the appointment  and removal of the internal auditor require the approval of the Audit Committee?
   None Section 2.H.iii - Internal Control Responsibilities of the Board
"..The Board shall appoint an Internal Auditor to perform the audit function, and may require reporting to a level in the organization that allows the internal audit activity to fulfill its mandate. The Internal Auditor shall be guided by the International Standards on Professional Practice of Internal Auditing..."
http://lbp-insurance.com/CODECORP.pdf#page=10
 27. Risk Oversight
         
 a. Does the company disclose the internal control procedures/risk management  systems it has in place?
    Transparency Seal -
Risk Management Manuals
Section Risk Management Manual
"…Market Risk.. Counterparty Credit Risk…Regulatory Risk…Operational Risk…Reputation Risk…Governance Risk…Planning and Reosurce Allocation…Major Initiatives…Accounting & Reporting…"

http://lbp-insurance.com/LIBIriskmgnt.pdf
 b. Does the Annual Report disclose that the board of Directors/Commissioners have conducted a review of the company's material controls (including operational,  financial and compliance controls) and risk management  systems?
    Page 23 - Annual Report
Section Board In Action
"...The Committee reviewed, evaluated and monitored progress and/or endorsed to the Board the...Operational Risks…"

http://www.lbp-insurance.com/2017ANUALREPORT.pdf#page=23
 c. Does the company disclose how key risks are managed?
    Risk Management Manual
Section Chapter 3 Risk Management Process
http://lbp-insurance.com/LIBIriskmgnt.pdf
 d. Does the Annual Report contain a statement from the Board of Directors or Audit Committee commenting  on the adequacy of the GOCC's internal controls/risk  management  systems?
    Annual Risk & Control Self-Assessment (RCSA)
Section Board In Action
"...The Committee reviewed, evaluated and monitored progress and/or endorsed to the Board the...Operational Risks…"

http://www.lbp-insurance.com/2017ANUALREPORT.pdf#page=23
 28. Board Chairman
         
 a. Do different persons assume the roles of Chairman and CEO?
    LIBI BOD & Corporate Officers
Mr. Tomas T. de Leon, Jr. holds the same position as Acting President & CEO and Chairman of the Board.
http://lbp-insurance.com/officers.pdf
 29. Board of Directors Development
         
 a. Does the GOCC have orientation programmes  for new Directors?
 
LIBI do not have any orientation aside from the Directors Orientation and Oath Taking conducted by GCG

 b. Does the GOCC have a policy that encourages Directors/Commissioners to attend on-going or continuous professional  education programmes?
    Page 17 - Annual Report
Section Training and Continuing Education by the Board
"...LIBI encourages the members of the Board of Directors to attend continuous professional education programs. The members of the Board of Directors, on their own initiative or upon the recommendation of the company, may request for their participation in certain professional programs, trainings and seminars..."
http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=17
 c. Did all Appointive Directors attend at least 1 training for the calendar year?
  Page 17 - Annual Report
Not all appointive directors attended at least one training for the year 2017.
http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=17
 30. Board Appraisal
         
 a. Is an annual performance  assessment  conducted of the Board of Directors assessment?
    Page 27 - Annual Report
Complied through GCG IPED
Section Evaluation of the Board’s Performance
"..Each director accomplishes the Director Performance Review (DPR) Forms online and submits directly to the GCG through the iPED System annually.."

http://iped.gcg.gov.ph/


https://gcg.gov.ph/site/public_files/gcg1455098110.pdf


 b. Does the GOCC disclose the process followed in conducting the Board?
    Page 27 - Annual Report
Complied through GCG IPED
Section Evaluation of the Board’s Performance
"..LIBI follows the GCG Memorandum Circular No. 2014-03 (3rd Issue) with subject of Performance Evaluation for Directors (PED) issued on October 26, 2015...

http://iped.gcg.gov.ph/


https://gcg.gov.ph/site/public_files/gcg1455098110.pdf
 c. Does the GOCC disclose the criteria used in the Board assessment?
    Page 27 - Annual Report
Complied through GCG IPED
Section Evaluation of the Board’s Performance
"..LIBI follows the GCG Memorandum Circular No. 2014-03 (3rd Issue) with subject of Performance Evaluation for Directors (PED) issued on October 26, 2015…"
http://iped.gcg.gov.ph/


https://gcg.gov.ph/site/public_files/gcg1455098110.pdf
 31. Committee Appraisal
         
 a. Is an annual performance  assessment  conducted of the Board of Directors Committees?
    Page 27 - Annual Report
Complied through GCG IPED
Section Evaluation of the Board’s Performance
"..The results of the iPED shall be annually evaluated and deliberated upon by the Board in a duly constituted meeting.."

http://www.lbp-insurance.com/2017ANNUALREPORT.pdf#page=27


http://iped.gcg.gov.ph/
 BONUS
         
 Stakeholder's Relationship: Does the GOCC practice Global Reporting Index (GRI) on its annual reports?
   
LIBI does not practice Global Reporting Index (GRI) on our Annual Reports.  
 Disclosure and Transparency: Are the audited annual financial report/statement released within 30 days upon the receipt from COA?    
LIBI does not practice Global Reporting Index (GRI) on our Annual Reports.
http://lbp-insurance.com/fs2017.pdf
 PENALTY
         
 Responsibilities of the Board
         
 a. Are there members of the Board of Directors who hold more than five (5) positions in GOCCs and PLCs?
   
All LIBI Directors has no other directorship aside from LIBI.  
 b. Is there non-compliance with Good Governance Conditions?
   
All LIBI Directors has no other directorship aside from LIBI.