Premium Credit Limited and the Platinum Credit Holdco Limited Group Modern Slavery and Human Trafficking statement for the period ended 31 December 2025.
Introduction
This Statement is for Premium Credit Limited and the Platinum Credit Holdco Limited Group, who for the basis of the Statement will be described collectively as Premium Credit.
Premium Credit is committed to carrying out business responsibly, which includes ensuring that slavery and human trafficking are not taking place in any part of the business or supply chain. This Statement sets out Premium Credit’s actions to understand all potential modern slavery risks related to its business and to put in place steps that are aimed at ensuring that there is no slavery or human trafficking in its own business or its supply chains.
1.0 Organisational structure and supply chains
Premium Credit’s purpose is clear: “We proudly support our community of customers and partners in creating opportunities through convenient payments”. Our Values, Stand Together, Stand True, Stand Up and Stand Out guide our behaviour.
Premium Credit is the market leading multi-award-winning provider of instalment solutions for insurance premiums and other annually charged services in the UK and Ireland.
Headquartered in the UK, Premium Credit provides flexible payment options through a network of over 2,500 insurers, broker and other partners to over 3 million individuals and SMEs.
Premium Credit supports access to much-needed protection and services by enabling customers to spread the cost of insurance and other essential services into monthly instalments. Premium Credit is regulated by the Financial Conduct Authority in the UK and the Central Bank of Ireland.
Premium Credit employs approximately 600 colleagues across the whole of the UK and Ireland and adopts a hybrid working model consisting of remote working and onsite collaboration. Currently, Premium Credit has business processing operations with an outsourced provider in India, who employ approximately 65 people. We are in the process of transitioning our IT Development work out of India to an alternative provider based in the UK with services delivered by approximately 70 people from a small number of countries across Eastern Europe.
2.0 Assessing and managing the risk
Premium Credit has conducted a risk review assessment of its own business and that of its material suppliers to ensure there are no risks associated with slavery or human trafficking.
Risks are mitigated by using suppliers whom Premium Credit considers to be reputable, and Premium Credit specifically requests that these suppliers declare that their own business activities do not involve slavery or human trafficking.
The supply chain is not extensive and is comprised mainly of outsourced services, which include business processing operations, IT support and development, facilities and cleaning services. Other suppliers provide software and are in scope for risk and compliance reviews. The services provided have extensive oversight which incorporates adherence to all policies including the Modern Slavery policy. Our second line risk management teams conduct reviews to ensure effectiveness of our controls.
3.0 Due diligence
Premium Credit undertakes due diligence when considering taking on new suppliers and regularly reviews its existing suppliers. Premium Credit’s due diligence questionnaire includes specific and relevant questions and considerations relating to modern slavery and human trafficking and in 2026 we intend to expand the scope of supplier due diligence to include additional ESG questions relating to how well suppliers integrate their own ESG values in their operations. Premium Credit ensures standard clauses on human rights and modern slavery are included in supplier contracts.
4.0 Relevant policies
Premium Credit operates the following policies that describe its approach to the identification of modern slavery risks and steps to be taken to prevent slavery and human trafficking in its operations:
Sustainability Policy: The Sustainability Policy sets out the principles, commitments and framework for sustainability at Premium Credit from behaving responsibly and ethically, working with our customers, partners and colleagues to build lasting relationships, and demonstrating to all our stakeholders that we understand the impact of our operations and the decisions we make.
Whistleblowing Policy: The organisation encourages all its customers, other business partners and colleagues to report any concerns related to the direct activities, or the supply chains of the organisation. This includes any circumstances that may give rise to an enhanced risk of slavery or human trafficking. Premium Credit’s whistleblowing procedure is designed to make it easy for colleagues to make disclosures, without fear of retaliation. Premium Credit has a confidential hotline facilitated by an independent external reporting provider where concerns regarding compliance and business practice can be anonymously reported.
Recruitment Policy: Premium Credit is committed to responsible and ethical recruitment practices and takes steps to mitigate the risk of modern slavery and human trafficking within its workforce. The organisation uses reputable recruitment agencies and employment partners and undertakes appropriate checks to ensure that recruitment practices are fair, transparent and compliant with applicable laws. Premium Credit ensures that all colleagues are engaged voluntarily, are free to leave employment in line with contractual notice periods and are not subject to unlawful recruitment fees or coercive practices. The Recruitment Policy supports the organisation’s commitment to the Modern Slavery Act 2015 and complements its wider approach to human rights and modern slavery across the business and its supply chains.
Code of Ethics: Premium Credit’s code makes clear to colleagues the actions and behaviour expected of them when representing the organisation. The organisation strives to maintain the highest standards of colleague conduct and ethical behaviour and managing its supply chain.
Supplier Code of Conduct: The Premium Credit Supplier Code of Conduct outlines the ethical standards and behaviours we expect from our suppliers. It is essential that our suppliers hold similar values, promote ethical business practices and conduct their business in accordance with applicable laws and regulations, within the geographies where they operate.
Procurement Policy: The organisation is committed to ensuring that its suppliers adhere to the highest standards of ethics. Suppliers are required to demonstrate that they provide safe working conditions where necessary, treat colleagues with dignity and respect, and act ethically and within the law in their use of labour.
Outsourcing Risk Policy: Premium Credit has several material outsourcing arrangements that are supported by appropriate due diligence documentation. These are subject to service level agreements and controlled through monitoring and reporting in line with its risk policy.
Human Rights and Modern Slavery Policy: Premium Credit is committed to ensuring there is transparency in its approach to tackling modern slavery and human rights anywhere in the business or in any supply chains.
5.0 Training
All colleagues, including those responsible for procurement and management of supplier relationships, receive training on Modern Slavery as part of their induction and then an annual mandatory compliance module. Colleagues in relevant roles at the outsourced providers also complete the Premium Credit training.
Training includes how to assess the risk of slavery and human trafficking, how to identify signs and what steps to take if slavery or human trafficking is suspected. The focus is particularly on the expectations that Premium Credit has of suppliers and contractors in maintaining an environment that is free from slavery and human trafficking.
6.0 Performance indicators
Premium Credit has identified the following key performance indicators (KPIs) to ensure that good practices are maintained:
|
KPI |
Completed Actions |
Future Action |
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Mandatory training: New Premium Credit Limited employees and contractors must complete a mandatory training module on Modern Slavery |
For permanent employees, we set a 100% completion rate for the ‘Modern Slavery for Financial Services’ module within the first month of joining.
For non-permanent employees the training remains mandatory and is completed within set timeframes based on the duration of their term.
For both permanent employees and contractors the Modern Slavery module must be completed once per year.
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Ongoing adherence to the Human Rights and Modern Slavery Policy - this will continue to include clear advice on how to report Modern Slavery concerns.
Ensure that the Modern Slavery training module is refreshed annually, or earlier if required due to regulatory changes. |
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KPI |
Completed Actions |
Future Action |
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Induction awareness: New Premium Credit Limited employees and contractors must be made aware of how to report Modern Slavery concerns |
All employees and contractors have an induction at the start of their roles within Premium Credit Limited and the ‘Whistleblowing with Confidence for Financial Service’ segment provides clear advice on how to report Modern Slavery concerns
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Continue to ensure that clear advice on how to report Modern Slavery concerns is made available post-induction on SharePoint and any other centrally accessible site. |
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Supplier evaluation: Premium Credit Limited must evaluate potential suppliers Modern Slavery risk before they enter the supplier chain |
Our procurement framework outlines the controls and governance surrounding new supplier selection including requesting a Modern Slavery policy or equivalent document from new suppliers
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Continue to monitor and enforce compliance regarding supplier due diligence. |
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Continuous monitoring: Premium Credit Limited must review its suppliers at appropriate intervals for any changes to their modern slavery risk profile
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Material outsourced arrangements have monthly, quarterly and annual reviews.
All other supplier tiers have a defined frequency for review set out in our Procurement Framework.
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Ongoing sustainability review of suppliers includes a measure of modern slavery risks |
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Supplier contracts: Supplier contracts to include Modern Slavery clause |
Tier 1 and Tier 2 contracts include Modern Slavery clauses
Business areas self-serve for Tier 3 contracts but are provided with a guidance document including a Modern Slavery standard clause
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Continue to monitor and enforce compliance regarding supplier contracts.
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7.0 Our continuing plan
Over the course of the next year, Premium Credit will:
Board approval
This Group Statement is made with respect to the financial year ended 31 December 2025 in accordance with section 54(1) of the Modern Slavery Act 2015 and has been approved by the Premium Credit Limited Board on 28th April 2026.
The Statement will be reviewed and (if necessary) updated annually to reflect Premium Credit Limited’s ongoing commitment to ensuring that its business and supply chains are free from slavery and human trafficking.
Tara Waite, Chief Executive
April 2026
