Risk management

  • The high quality design of the risk management systems allows the Group to create a competitive edge and added value and caters for the monitoring of risk as well as profitability.
  • The Group has a conservative risk culture and attitude, and uses state-of-the-art tools for comprehensive risk management.

The core business of an insurer is taking on the risks of business partners in exchange for an insurance premium. Risk management therefore represents a key element of corporate governance, business processes and employee guidelines in the Triglav Group. In addition to insurance risks, the Group is faced with other risk types, such as financial, operational and strategic risk. The Company’s comprehensive risk management system is continuously adapted to the Group’s growth and the expansion of its operations.

An integrated risk management system:

  • defines the appetite for individual risk types in line with the adopted strategy;
  • allows for verification as to whether lines of defence effectively include all major risks;
  • enables the early identification, measurement and management of all risk types on a preventative basis;
  • defines and ensures constant monitoring of the Group’s risk exposure, which is evaluated according to risk appetite;
  • implements a risk management system in compliance with Solvency II requirements;
  • creates a favourable environment for the development of a risk management culture in line with the Group’s business strategy.

Risk management is further discussed in Section 4 of the accounting part of the Annual Report.

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