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Effective risk management in Triglav

In the Triglav Group risk management is understood as a process by which prudent and responsible business risk assumption is encouraged. Risk management activities enable quality business decisions and lead to better performance.  
In order to ensure effective risk management, the Triglav Group has developed an enterprise risk management system at three levels.

The first level

The primary responsibility for active risk management rests with individual divisions, which are in charge of appropriate and effective internal controls and the implementation of business activities within the set limits and in accordance with the strategic objectives.  

The second level

The second level consists of the Risk Management Department, the Risk Management Committee and the Assets and Liabilities Committee. They create the risk management system and are responsible for the establishment and development of the following: methodologies used for risk identification, measurement and assessment; minimum requirements for the internal control system; the development of assets and liabilities management models; setting investment policy limits and operational risk limits; verifying compliance with the framework of the risk management system.

The third level

The third level is represented by the Internal Audit Department, which, in accordance with legal requirements, regularly tests the effectiveness and reliability of the internal control environment. Furthermore, it periodically evaluates the quality of the risk management system.


The risk management system also includes preparations for the Solvency II directive requirements, for which the Group has set up a special strategic project coordinated by the Risk Management Department an involving several subsidiaries of the Triglav Group.

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