Taking and managing risks is the core business of insurance companies. The Triglav Group draws its expertise from more than 110 years of insurance tradition. The Triglav Group's management system is continuously adapted to the Group's growth and the expansion of its operations. The system developed by the Group provides for effectiveness and represents an important element of its corporate governance. Risk management is embedded in all business processes. It is based on clear and precise organisation and the well-defined competences and powers of functions and committees. Managing and controlling uncertainties in business opportunities are crucial for making better business decisions and improving performance results.

The established risk management system is used to verify whether the second line of defence effectively covers all major risks, and to identify, measure and manage financial, insurance and operational risks. Simultaneously, Triglav:

• defines its risk appetite and monitors risk exposure;
• implements an integrated risk management system in compliance with Solvency II requirements; and
• creates a favourable environment for the development of risk management culture in line with the Company's business strategy.