1 - Cetif

CETIF
Governance: struttura dei comitati e
management information
Milano, 04 Ottobre 2011
AVIVA nel mondo
• Nasce nel 1696
• È il 1° gruppo assicurativo in UK*
• È leader in Europa per la sottoscrizione di polizze vita e pensioni*
• È il 6° gruppo assicurativo nel mondo*
• Ha 45.000 dipendenti*
• Ha 53 milioni di clienti*
• È presente in oltre 28 Paesi*
• È una PLC (Public Limited Company) con 616.515 azionisti*
• Raggiunge una raccolta premi lorda pari a € 53,2 miliardi e un patrimonio
gestito di € 454.2 miliardi*
*Risultati al 31 dicembre 2010
I valori in euro sono calcolati considerando il tasso di cambio 1GBP = 1,13 EUR al 31.12.2010.
Page 2
Aviva in Italia – una distribuzione capillare
650 agenti e brokers
6.426 sportelli bancari
Essere unici, valere il doppio
5.159 promotori finanziari
Ulteriori opportunità
di sviluppo con altre reti
Page 3
Aviva in Italia – Bancassurance
Partner bancari
1.087
1.127
2.054
1.146
Altri partner bancari
1.012
Totale 6.426
2.283
/ Banca Euro
935
462
848
Altre Reti Partner Promotori Finanziari
631
Totale promotori
5.159
4
Ranking raccolta premi – mercato italiano
VITA
DANNI
Generali
13,51
Intesa Sanpaolo
13,36
Poste Vita
9,49
GRUPPO AXA
14,83
10,54
6,16
5,55
GRUPPO Allianz
4,13
GRUPPO AXA
1,56
Groupama
Incidenza sul totale (%)
1,19
12,17
11,53
5,5
1,97
1,59
5,12
4,61
Premi (miliardi di euro)
4,36
GRUPPO Cattolica Assicurazioni
5,67
5,1
19,81
7,1
Gruppo UGF
GRUPPO Reale Mutua
21,45
7,68
Fondiaria Sai
8,29
7,46
GRUPPO Allianz
GRUPPO UGF
Generali
9,81
8,84
Mediolanum
GRUPPO Aviva
15
4,45
4,36
3,33
Premi (miliardi di euro)
Incidenza sul totale (%)
Aviva è al 12° posto della classifica
Danni con un importo premi superiore
504 milioni di euro e incidenza sul
totale pari all’1,41%.
Fonte: Ania – Premi del lavoro diretto italiano 2010
Page 5
Aviva Governance Structure
231
Supervisory Board
Board Committee
Aviva Italia Holding
Board (*)
Statutory Auditor
Executive Management Committee
Functional Sub-Committee
Functional Sub-Committee - LOCAL
Other Committee
(*) The Parent Company Committees provide their
services also to all Aviva Italy Group Legal Entities.
Risk Committee
Audit
Committee
Quarterly
Quarterly
Executive Committee
Weekly
POLICY OVERSIGHT:
•Strategy & Planning
(ExCO)
•Mergers & Acquisitions
(ExCO)
•Capital Management
•Foreign Exchange
•External Auditor
•Credit
•Liquidity
•Derivatives
•Market
•GI Reserving
•Life Reserving
•Life Insurance Risks
•Life Prod. Dev. & Pricing
•GI Reinsurance
•GI Underwriting
•Unit Pricing
Operational Risk
Committee (ORC)
ALCO
Monthly
Monthly
UPP
(U/W Pricing, Product
Com Life) Monthly
Life Reserving
Committee
GI UPP
(U/W Pricing, Product
Com Life) Quarterly
Demand Challenge
Committee
Project Review (PRG)
Monthly
Deficiency Assessment
Committee
Quarterly
Quarterly
GI Reserving
Committee
Quarterly
Capital Management
Committee
POLICY OVERSIGHT
All 35 policies
Monthly
6
AVIVA Risk Management Framework
Customers, Products
& Markets
Aviva
Level 1
Strategic
Development
Customers
Products, Markets
Prudential
Business Processes
Operations &
Resource Mgmt
Financial
Process
Financial
Insurance
Risk Management
& Internal Control
Strategy &
Planning
Regulatory
Financial
Reporting
Capital
Management
Life Insurance
Risk
Distribution
Management
Information
Technology
External Auditor
Credit
Life Insurance
Product Dev
& Pricing
Financial Crime
Taxation
Corporate Social
Responsibility
Business
Protection
General Insurance
Reserving
Derivatives
General Insurance
Underwriting
Environment
People
Life
Reserving
Liquidity
General Insurance
Reinsurance
Outsourcing
Foreign
Exchange
General Insurance
Claims
Purchasing &
Supply Mgt
Mergers
& Acquisitions
Brand & Marketing
Communications
Market
Unit
Pricing
Aviva
Level 2
External Developments
Customer
Communications
Legal
Health & Safety
Aviva
Level 3
Detailed inherent risks described in policies listed in Level 2
7
Gruppo Aviva in Italia
Aviva
Europe SE
AVIVA Italia Holding S.p.A.
Aviva Italia S.p.A.
Aviva S.p.A.
Aviva
Assicurazioni S.p.A.
AVIVA Vita S.p.A.
Area Life Int.
Aviva
Previdenza S.p.A.
Aviva Life S.p.A.
Avipop
Assicurazioni S.p.A.
Avipop Vita
S.p.A.
AVIVA
Assicurazioni Vita S.p.A.
FINOA S.r.l.
Eurovita
Assicurazioni
S.p.A.
8
Board Risk Committee - Membership
Principles for Risk Committee Membership
Chairman:
•
Fully independent Non-Executive Director with no past association with Aviva
•
More than 10 years of senior management experience in risk management, audit or
control
•
Experience of working in a major financial services group with significant European
footprint
Appointments will be led by local HR working with local CEO & Chairman and will be
approved by Chair of the Group Risk Committee.
Risk Committee membership is as follows:
1) Chair of Risk Committee (NED)
2) Aviva Europe Risk Representative (CRO or his delegate)
3) NED member
Page 9
Rivisitazione struttura comitati
•
Terms of Reference for Committees:
•
roles & responsabilities
•
membership
•
management information
•
escalation (market & region level)
•
Agenda & minutes templates
•
Forward planning agendas
•
Delegated Authorities
10
Management Information – Risk Function
•
Risk Report trimestrale per CdA di ogni compagnia appartenente al
Gruppo
•
Risk Report trimestrale di Gruppo per CdA di Aviva Italia Holding e per
Aviva Europe
•
MI mensili ai comitati rischi rilevanti (ALCO e ORC)
•
MI trimestrali al Board Risk Committee
•
Emerging risk forum / War Games
•
Project risk assessment
•
Strategic Plan risk assessment
11
New Risk Management Framework – Risks
Policies and Business Standards
Risk Policies
Business risk (Life Insurance,
General Insurance and Asset
Management)
Enterprise-wide (including Operational)
risks)
• Group Risk
Management
Framework
(including risk
appetite)
New
policies
Enhanced
policies
Risk
Framework
Financial risk (Market, Credit and
Liquidity risk)
• Group Market Risk
• Group Credit Risk
• Group Liquidity Risk
• Group Life Insurance Risk
• Group General Insurance Risk
• Group Asset Management Risk
• Group Operational Risk
• Internal
Control
(previously
included with
Risk
Management
and Internal
Control)
• Bottom up risk
Assessment /
RCSA
• M&A
• Health and
•
•
•
Marketing
• Communication •
•
s
• CSR
•
• Customer
•
• Distribution
• Environment
Safety
• Brand and
Financial Crime • Tax
BP and IT *
• Unit Pricing
Legal
• Financial
People
Reporting
Procurement and • External Auditor
outsourcing *
• Internal Audit
Regulatory
Strategy
* previously two
policies
New standard
(General)
New SII standard
Existing standards / policies /
guidance (refresh)
Business Standards
• Life Product Development, Underwriting and
Technical Pricing
• GI Product Development, Underwriting and
Technical pricing
• GI Reinsurance
• Claims Handling (GI and Life)
• Technical Provisions (GI and Life)
• Life Reinsurance
• Life In force Management
•
•
•
•
•
Capital Management
Securities Lending
Liquidity
Foreign Exchange
Counterparty Rating (Credit)
• Asset Valuation
Model Validation; Data; Stress and Scenario testing; ORSA; Remuneration; Model Development
• Product Development (AM)
• Fund Management (AM)
• Fees (AM)
• Errors and Breaches(AM)
• Top-down Risk
Assessment
• Asset and Liability Management
• Investment Management
• Collateral Management, Derivative
Management* and Funded Risk Mitigation
ORC
12
Existing document /
refresh
New SII standard
Business Standards
New general standard
Release 1
Release 2
Release 3
Release 4
• 01. Life Product
Development,
Underwriting and
Technical Pricing *
• 02. GI Product
Development,
Underwriting and
Technical Pricing *
• 03. Model Validation
• 04. Asset and Liability
Management
• 05. Customer
• 06. Data Management
(03/10)
• 07. GI Claims Handling
• 08. GI Reinsurance
• 09. GI Technical
Provisions
• 10. Investment
Management
• 11. Life Claims Handling
• 12. Life Reinsurance
• 13. Life Technical
Provisions
• 14. Model Development
(03/10)
• 15. ORSA
• 16. Purchasing and
Outsourcing
• 17. Stress and Scenario
Testing
• 18. Tax
• 19. Asset Valuation
(03/10)
• 20. Bottom Up Risk
Assessment/ RCSA
• 21. Business Protection
and IT (03/10)
• 22. Capital Management
• 23. Communications
• 24. Counterparty Rating
(03/10)
• 25. Internal Control
(03/10)
• 26. Life In-force
Management
• 27. Remuneration**
• 28. Top Down Risk
Assessment
• 29. Asset Management
Product Development
• 30. Brand
• 31. Collateral
Management, Derivatives
Management and
Funded Risk Mitigation
• 32. CSR
• 33. Distribution
• 34. Environment
• 35. Errors and Breaches
• 36. External Auditor
• 37. Fees
• 38. Financial Crime
• 39. Financial Reporting
• 40. Foreign Exchange
• 41. Fund Management
• 42. Health & Safety
• 43. Internal Audit
• 44. Legal
• 45. Liquidity
• 46. M&A
• 47. People
• 48. Regulatory
• 49. Securities Lending
• 50. Strategy
• 51. Unit Pricing
13