Sanitas has taken measures to ensure an appropriate risk management strategy is in place with regard to all material risks, and has documented this strategy accordingly.
These measures are based on Article 22 of the Act on the Supervision of Insurance Undertakings (VAG) and Articles 96 and 97 of the Supervision Ordinance Act (AVO). Risk management encompasses the methods and processes used to identify, monitor, evaluate and report risks as well as risk strategy and risk management measures. In accordance with the regulations governing Sanitas Beteiligungen AG, the board of directors is responsible for risk management policy. The executive board issues the necessary directives.
In strategic terms, risk management helps improve the company’s corporate value by ensuring an appropriate balance between risk and profit, which in turn guarantees long-term financial stability. With this in mind, integrated risk management:
Integrated risk management is therefore a fundamental part of corporate governance.
Identifying, assessing and managing risks: video (in German) on integrated risk management in the 2015 Sanitas annual report
Integrated risk management comprises the following elements: