From time to time, we enter into transactions in the normal course of business, which are measured at the exchange amounts, with certain directors, senior officers, and companies with which we are related. Management has established procedures to review and approve transactions with related parties and reports annually to the Corporate Governance Committee of the Board of Directors on the procedures followed and the results of the review.
At the reporting date, commercial loans of $17.4 million (2015: $7.1 million) are due from companies subject to significant influence. The loans are included in “Investments” in the consolidated balance sheet and are initially measured at the exchange amount. The loans are subsequently measured in accordance with the accounting policy for loans and receivables as noted in Note 2 — “Summary of significant accounting policies”, included in our audited consolidated financial statements.