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Chap. 2 GROUP MANAGEMENT REPORT RISK REPORT
Risks involved in the future development and
risk controlling
Risk management in the
AMB Generali Group
As a financial services group focussing on insur-
ance, investments and building-society activities, the
AMB Generali Group has to monitor a variety of risks.
These risks arise, on the one hand, in our core busi-
ness by assuming the risks of our customers and,
on the other hand, by the general operating activities
of our Group. On the basis of our risk-management
system (RMS) we aim at an early risk recognition and
a systematic analysis and monitoring of all risks in
order to exclude any hazard for the Group and the
companies and to sustainably ensure the earning
capacity of the Group. All in all, there is no develop-
ment becoming evident at the moment that would
materially affect the asset, financial strength and
earnings position of the AMB Generali Group. There
are currently no risks recognizable which would jeop-
ardize its existence.
Organization of risk management
The Group-wide coordination of issues with a
risk-management relevance is primarily ensured in
regular meetings of the Risk-Management Commit-
tees (RMC) in which all companies concerned are rep-
resented.
In the Group companies, issues and findings of
risk-management relevance are discussed in regular
local RMC meetings and risk conferences. The local
Company Risk Manager is also the risk-management
contact for the Board of Management of the com-
pany concerned and for the Group Risk Manager.
The major risk-management findings at the level of
the Group company are systematically consolidat-
ed in the meetings of the specific segment com-
mittees "RMC life/health", "RMC P&C" and "RMC
Bank" which are held regularly. The purpose of these
meetings, which in addition to the members of the
Boards of Management of the companies concerned
are also attended by the Group Risk Manager, is to
respond adequately and timely to changes of the risk
situation. Against this background, adequate risk-
controlling measures are elaborated, analysed and
decided, if appropriate. The tasks of the committees
also include the systematic monitoring and verifica-
tion of risk-controlling measures already initiated at
segment level.
The Group Risk Management is in charge of
Group risks and for the conceptual development and
updating of the risk-management system at Group
and holding company level. In addition to setting uni-
form Group-wide standards of risk management, the
tasks of Group Risk Management therefore include
the activities of initiating, elaborating and coordinat-
ing risk-management measures together with the
Company Risk Managers and the RMCs. Within the
scope of the quarterly meetings of the Group RMC,
· Our risk-management system enables us to recognize risks early and to analyse and
control them.
· We thus ensure the sustainable profitability of the Group.
· As a whole, there is currently no development emerging which could substantially affect
the assets, financial strength and earnings position of the AMB Generali Group.