2. Clearly defining tasks and responsibilities

Strategic objectives can only be achieved if there are clearly defined management roles in terms of responsibility and expertise within the company. In 2012, we adopted a structured governance model that defines the tasks and responsibilities of the Management Board and Supervisory Board and determines the company’s strategic and operational development. In the past financial year, we further improved these regulations in order to accelerate decision-making processes and enhance transparency. As part of our preparations for Solvency II, 2013 also saw the development of a detailed governance model for UNIQA’s international organisational units. This model is scheduled for implementation in the first half of 2014.

Since 2013, the core topics at the Group have been managed via the following operationally oriented committees: Risk, Asset Liability Management, Equity Holdings & Real Estate and IT & Operations. The Risk Committee has three sub-committees: the Technical Committee for actuarial accounting policies, the Security Committee for topics relating to information security and physical security, and the Reserve Committee for the analysis and assessment of claim reserves.

The governance model

© UNIQA Group 2014