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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

          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


          2019 RCC DIARY - Main opinions and assessments

          The main committee’s activities in 2019 are listed in the following charts.

          SOLVENCY II INTERNAL CONTROLS, RISK MANAGEMENT FINANCIAL AND ACCOUNTING DOCUMENTS, INVESTMENTS
          • Examination of minor changes to the internal capital calculation model pursuant to Solvency II and associated documents for presentation to IVASS
          • Committee budget proposal for 2019
          • Examination of results of 2018 Risk Assessment relating to operating and compliance risks
          • Opinion on the 2019 activity plans for the Company and the Group, and related expenditure budgets
          • Opinion on the 2019 incentives system
          • Market analysis and remuneration proposals for the heads of the Key Functions
          • Information on monitoring of Group concentration risks
           
          SOLVENCY II INTERNAL CONTROLS, RISK MANAGEMENT FINANCIAL AND ACCOUNTING DOCUMENTS, INVESTMENTS
             
          • Information on correct uniform application of accounting standards
          • Opinion on 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
          • Report on risk capital at Group level at 31/12/2018 pursuant to Solvency II
          • Assessment of the adequacy and efficacy of the internal control and risk management system
          • Examination of actuarial report on the Company's technical reserves
          • Examination of the report of the Compliance function on activities performed to control compliance with the joint Bank of Italy/CONSOB Regulation of 29 October 2007 and examination of 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 reports of the head of Group Audit, the Group Compliance Officer and the Group Chief Risk Officer on remuneration policies (s. 58 IVASS Regulation 38/2018)
          • Update report by the MPFR and opinion on 2019 activity plan and related budget
          • Periodic monitoring of SAA limits
          • 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
          • Report on goodwill impairment testing
          • Examination of reporting on investments
          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 independent review and check of methods used to measure assets and liabilities other than the parent company’s technical reserves
           
          • Examination of the parent company 2018 ORSA Report
          • Examination of the parent company Regulatory Supervisory Report and Solvency Financial Condition Report
          • Examination of the reports of the external auditors pursuant to s. 14 lgs. decree no. 39, 27 January 2010, s. 10 of EU Regulation no. 537/2014, s. 102 of lgs. decree no. 209, 7 September 2005, and s. 11 of EU Regulation no. 537/2014
           

           

          SOLVENCY II INTERNAL CONTROLS, RISK MANAGEMENT FINANCIAL AND ACCOUNTING DOCUMENTS, INVESTMENTS
          • Report on Group technical provisions pursuant to Solvency II, Underwriting and Reinsurance
          • Report on Group risk capital pursuant to Solvency II at 31 March 2019
          • Report on independent review and check of methods used to measure assets and liabilities other than the Generali Group's technical reserves
          • Examination of the Group’s 2018 ORSA Report
          • Examination of the Group Regulatory Supervisory Report and Solvency Financial Condition Report
           
          SOLVENCY II INTERNAL CONTROLS, RISK MANAGEMENT FINANCIAL AND ACCOUNTING DOCUMENTS, INVESTMENTS
          • Report on local solvency positions at 31 December 2018
          • Examination of changes to the internal capital calculation model pursuant to Solvency II and associated documents for presentation to IVASS
          • Examination of the Group Audit Report and the Assicurazioni Generali S.p.A. Audit Report at 31 March 2019
          • Information on monitoring of Group concentration risks
          • Examination of reporting on investments
          • Examination of the external auditors’ report drawn up pursuant to s. 12 of IVASS Regulation 42/2018
          SOLVENCY II INTERNAL CONTROLS, RISK MANAGEMENT FINANCIAL AND ACCOUNTING DOCUMENTS, INVESTMENTS
          • Report on Group risk capital pursuant to Solvency II at 30 June 2019
          • Update report on the state of the activities of the control Functions at 30 June 2019
          • 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 private equity investments
          • Periodic monitoring of SAA limits
          • Report on the half-year reports as at 30 June 2019 and the partial audits thereof being conducted by the external auditors
          • Update by the MPFR
          • Examination of reporting on investments
          SOLVENCY II INTERNAL CONTROLS, RISK MANAGEMENT FINANCIAL AND ACCOUNTING DOCUMENTS, INVESTMENTS
          • Report on Group risk capital pursuant to Solvency II at 30 September 2019
          • Review of Liquidity Risk Management Plan, Recovery Plan and Systemic Risk Management Plan
          • Examination of the Group Audit Report and the Assicurazioni Generali S.p.A. Audit Report at 30 September 2019
          • Report on monitoring of Group concentration limits
          • Examination of reporting on investments
          SOLVENCY II INTERNAL CONTROLS, RISK MANAGEMENT FINANCIAL AND ACCOUNTING DOCUMENTS, INVESTMENTS
           
          • Report on private equity investments
          • Reporting on outsourcing
          • Periodic monitoring of SAA limits
           
          SOLVENCY II INTERNAL CONTROLS, RISK MANAGEMENT FINANCIAL AND ACCOUNTING DOCUMENTS, INVESTMENTS
          • Review of Risk Appetite Framework
           
          • Examination of the framework resolution on the parent company's investments, pursuant to IVASS Regulation 24/2016

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          RCC DIARY 2019 – Main opinions and valuations 84 kb  
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