Our Group-wide risk management minimises the business risk on all levels and is vital to the long-term success of our company. Consequently, it is a significant topic that is also reflected in our sustainability activities. It encompasses the chronological scrutiny, detection and assessment of risks as well as corresponding actions and control loops. Through established structures and responsibilities we ensure comprehensive evaluation of the risks that we intend to take on. Maximising the opportunities associated with these risks assures the sustainable development of our business. By identifying emerging risks at an early stage and leveraging them for our business, for example, we are consistently able to respond to the changing needs of the market and our clients and, ideally, secure our unique selling proposition.

Our risk strategy and our Framework Guideline on Risk and Capital Management including the system of limits and thresholds for our company's material risks constitute the central elements of our risk management system. The steering of all material risks is the task of the operational business units. The monitoring of all identified material risks is the responsibility of Group Risk Management.

The parameters and decisions of the Executive Board with respect to our company's risk appetite are fundamental to the acceptance of risks. These are based on the calculations of the company's risk-bearing capacity. Through our business operations on all continents and the diversification between our Property & Casualty and Life & Health reinsurance business groups we are able to effectively allocate our capital in light of opportunity and risk considerations and generate a higher-than-average return on equity by industry standards.