1. Overview – risk management framework

The UNIQA Group defines all risks that endanger the financial strength and thereby the needs of its customers, as well as the long-term growth of shareholder value, as major risks.

Therefore, the management of the UNIQA Group places particular focus on regular monitoring of risk-bearing capacity in order to ensure that it can react quickly, adequately and with foresight to changes in the business environment.

The risk-bearing capacity concept therefore always takes into account the following requirements:

  1. Compliance with adequate, prudential capital resource requirements as a minimal requirement
  2. Valuation by third parties, such as ratings agencies
  3. Internal company goals
  4. Accounting purposes

The Group's management has declared its primary objective to be a balance between turnover, profit and risk. The required organisational measures were undertaken in the reorientation of the UNIQA Group.

UNIQA was the first insurer in Austria to define risk management as an independent department in the Management Board at holding Group level. Numerous projects have been drawn up in the department of the Chief Risk Officer (CRO) aimed at establishing a new, modern and value-oriented risk culture in the UNIQA Group.

© UNIQA Group 2013