Report of the directors of the managing agent (continued)Business operations
ASML continues to strive to maintain a lean and efficient operating model by leveraging advanced technology and strategic outsourcing arrangements, ensuring flexibility and scalability to meet evolving business demands. In 2025, we welcomed a new Chief Information Officer to our executive team, further strengthening our leadership in driving innovation and operational excellence.
We have prioritised enhancements across claims, pricing, and underwriting, streamlining processes to boost efficiency and effectiveness while upholding the exceptional standards of service our stakeholders expect. Our hybrid working environment continues to thrive in 2025. Employees remain highly productive with seamless access to business systems both remotely and in-office.
Aligned with the FCA’s and PRA’s Operational Resilience policies, ASML has maintained its disciplined approach to ensuring robust plans are in place to prevent, respond to, and recover from operational disruptions. In 2025, we placed particular emphasis on enhancing cybersecurity measures as part of our broader commitment to protecting customers’ interests and safeguarding business integrity.
Environmental, Social and Governance
ASML’s Board-approved ESG strategy was reviewed in September 2025. The ASML Board drives the strategy, which is aligned with our vision, “Enabling a resilient and sustainable world”.
ASML’s ESG Committee reports directly to the Executive Committee and coordinates ESG-related activities within ASML. The ESG Committee’s mandate is set out within ASML’s ESG policy, but at a high-level seeks to identify areas of improvement and to ensure progress against the ESG strategy approved by the ASML Board.
ASML is committed to a long-term sustainable approach to protecting the environment, balancing environmental considerations and social responsibility within our overall business goals. ASML’s underwriting and investment practices are governed by ESG risk appetites that were originally implemented in 2022 and are reviewed at least annually. ASML is also working to identify new opportunities that support the transition to a low carbon sustainable economy.
The ESG strategy is reviewed by the ASML Board annually. During 2025, ASML’s key achievements have included:
•evolving ASML’s approach to managing ESG risks in the underwriting process through enhancements to the Contentious Risks Procedure,
•calculating ASML’s baseline insurance-associated emissions through partnership for carbon accounting financials,
•setting up a commuting survey to increase the accuracy of our GHG emission calculations,
•submitting our first energy savings opportunity scheme report and action plan, and
•continuing to ensure we avoid investing or underwriting in sectors that do not align with the ESG risk appetites.
At Apollo our people are at the heart of everything we do. We operate a zero-tolerance policy to bullying, harassment, and discrimination. This applies not only to the protected characteristics set out in the Equality Act of 2010, but also to neurodiversity, parental and caring responsibilities, socio-economic status, and working patterns.
