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          Risk and Control Committee

          The Risk and Control Committee assists the Board in establishing the guidelines of the internal control and risk management system, verifying its adequacy and effectiveness, and identifying and managing the main risks faced by the company and to other specific matters related to them (e.g.: the adoption and review of the Group policies according to Solvency 2 rules and the assessing proposals for the appointment of the auditing firm).

          The Risk and Control Committee assists the Board with tasks allocated to it by the Italian Corporate Governance Code and insurance supervisory regulations.

          Ensures also that the Board’s evaluations and decisions relating to the approval of the financial statements and half-year reports and relations between the Company and the external auditors are supported by adequate preliminary activity.

          Composition

          The Risk and Control Committee is made up of non-executive members, most of whom are independent, among them also the chair. Six managers are as stable participants at the meetings: the director in charge, the manager preparing corporate accounting records and the heads of the Internal Control Functions.

          Composition  - Ph. Giuliano Koren

          Alberta Figari
          CHAIR
          Non-executive independent director

          Composition

          Ines Mazzilli
          MEMBER OF THE COMMITTEE
          Non-executive independent director

          Composition  - Ph. Giuliano Koren

          Roberto Perotti
          MEMBER OF THE COMMITTEE
          Non-executive independent director

          Composition  - Ph. Giuliano Koren

          Sabrina Pucci
          MEMBER OF THE COMMITTEE
          Non-executive independent director

          Composition  - Ph. Giuliano Koren

          Clemente Rebecchini
          MEMBER OF THE COMMITTEE
          Non-executive and non-independent director

          Composition  - Ph. Giuliano Koren

          Giuseppe Catalano
          SECRETARY

           

          STABLE PARTICIPANTS

          Philippe Donnet
          Group Chief Executive Officer and manager in charge of the Internal Control and Risk Management System

          Cristiano Borean
          Group Chief Financial Officer and manager preparing corporate accounting records

          Nora Gürtler
          Head of Group Audit

          Maurizio Basso
          Group Compliance Officer

          Sandro Panizza
          Group Chief Risk Officer

          Salvatore Colotti
          Head of Group Actuarial Function


          2018 RCC DIARY - Main opinions and assessments

          The main committee’s activities in 2018 are listed in the following charts.

          SOLVENCY II INTERNAL CONTROLS, RISK MANAGEMENT FINANCIAL AND ACCOUNTING DOCUMENTS, INVESTMENTS
          • Examination of changes to the internal capital calculation model pursuant to Solvency II
          • Committee budget proposal for 2018
          • Examination of results of 2017 Risk Assessment relating to operating and compliance risks
          • 2018 activity plans for the Company and the Group and expenditure budgets of the Fundamental Functions and report on 2017 activities
          • Examination of remuneration of heads of the Fundamental Functions (meeting of 2017 targets and setting of 2018 targets)
           
          SOLVENCY II INTERNAL CONTROLS, RISK MANAGEMENT FINANCIAL AND ACCOUNTING DOCUMENTS, INVESTMENTS
           
          • Information on monitoring of Group concentration risks at 30 September 2017
          • Report of the head of the Internal Audit function on complaints management
          • Information on correct uniform application of accounting standards
          • Information on goodwill impairment test procedures, pursuant to joint Bank of Italy/ CONSOB/ISVAP document no. 4 of 3 March 2010
          SOLVENCY II

          INTERNAL CONTROLS, RISK MANAGEMENT

          FINANCIAL AND ACCOUNTING DOCUMENTS, INVESTMENTS
          • Information on Group risk capital pursuant to Solvency II at the end of 2017
          • Assessment of the adequacy and efficacy of the internal control and risk management system
          • Update on the activities of MPFR and opinion on 2018 activity plan and related budget
          • Examination of actuarial report on the Company’s technical reserves
          • Examination of findings of investigation into adequacy of the organisational, administrative and accounting structure of the Company and its strategic subsidiaries
          • Examination of the report of the compliance function on activities performed for control of compliance with the joint Bank of Italy/CONSOB Regulation of 29 October 2007 and opinion on the report drawn up by the compliance function, pursuant to CONSOB resolution no. 17297 of 28 April 2010, on complaints regarding distribution of insurance and financial products
          • Examination of the report of the head of Group Audit on implementation of remuneration policies, pursuant to art. 23 of ISVAP Regulation no. 39 of 9 June 2011
          • Assessment of correct use of accounting standards and their uniformity among the Group companies for the purpose of the consolidated financial statements, and assessment of correct use of accounting standards for the parent company’s financial statements
          • Examination of the additional report ex art. 11 Regulation (EU) 537/2014 drawn up by the external auditors
          • Examination of reporting on investments as at 31 December 2017
          SOLVENCY II INTERNAL CONTROLS, RISK MANAGEMENT FINANCIAL AND ACCOUNTING DOCUMENTS, INVESTMENTS
          • Report on Assicurazioni Generali S.p.A. technical provisions pursuant to Solvency II, underwriting and reinsurance
          • Report on Group risk capital pursuant to Solvency II at 31 March 2018
          • Report on local solvency positions at 31 December 2017
          • Examination of the Assicurazioni Generali S.p.A. 2017 ORSA Report
          • Examination of the Assicurazioni Generali S.p.A. Regulatory Supervisory Report and Solvency Financial Condition Report
          • Examination of the proposed appointment of a Data Protection Officer
          • Examination of the Group Audit Report at 31 March 2018
          • Report on Concentration pursuant to IVASS Regulation 30/2016
          • Examination of investment reporting at 31 March 2018
          SOLVENCY II INTERNAL CONTROLS, RISK MANAGEMENT FINANCIAL AND ACCOUNTING DOCUMENTS, INVESTMENTS
          • Examination of changes to the internal capital calculation model pursuant to Solvency II and associated documents for presentation to IVASS
          • Report on Group technical reserves ex Solvency II, Underwriting and Reinsurance
          • Examination of the year’s results concerning the impact of Long-Term Guarantee measures for the Company
          • Report on local solvency positions at 31 March 2018
          • Examination of the Generali Group’s 2017 ORSA Report
          • Examination of the Group’s RSR and SFCR
          • Report on Concentration pursuant to IVASS Regulation 30/2016
          • Report on private equity investments at 31 March 2018
          SOLVENCY II INTERNAL CONTROLS, RISK MANAGEMENT FINANCIAL AND ACCOUNTING DOCUMENTS, INVESTMENTS
          • Report on Group risk capital pursuant to Solvency II at 30 June 2018
          • Report on the results of the 2018 EIOPA stress test
          • Report on the status of activities of the Fundamental Function at 30 June 2018
          • Assessment of the adequacy and efficacy of the internal control and risk management system
          • Report of the head of the Internal Audit function on complaints management
          • Report on the half-year reports as at 30/6/2018 and the partial audits thereof conducted by the external auditors, and assessment of correct use of accounting standards and their uniformity among the Group companies, for the purposes of the Group consolidated half-year report
          • Update by the MPFR
          • Examination of reports on investments at 30 June 2018
          SOLVENCY II INTERNAL CONTROLS, RISK MANAGEMENT FINANCIAL AND ACCOUNTING DOCUMENTS, INVESTMENTS
          • Report on local solvency positions at 30 June 2018
           
          • Report on IT security issues
          • Report on concentration, ex IVASS Regulation 30/2016
           

           

          SOLVENCY II INTERNAL CONTROLS, RISK MANAGEMENT FINANCIAL AND ACCOUNTING DOCUMENTS, INVESTMENTS
          • Report on risk capital pursuant to Solvency II at Group level at 30 September 2018
          • Revision of Liquidity Management Plan, Recovery Plan and Systemic Risk Management Plan
          • Report on market trends and the Italian political and financial situation
          • Examination of the Group Audit Report at 30 September 2018
          • Examination of reports on investment at 30 September 2018
          SOLVENCY II INTERNAL CONTROLS, RISK MANAGEMENT FINANCIAL AND ACCOUNTING DOCUMENTS, INVESTMENTS
           
          • Opinion on proposed appointment of the head of the Group actuarial function and related remuneration
           
          SOLVENCY II INTERNAL CONTROLS, RISK MANAGEMENT FINANCIAL AND ACCOUNTING DOCUMENTS, INVESTMENTS
          • Examination of the Company and Group Risk Appetite Framework
           
          • Examination of the framework resolution on the Company’s investments, ex IVASS Regulation 24/2016
          • Report on private equity investments at 30 September 2018

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          RCC DIARY 2018 – Main opinions and valuations 84 kb