2020
Solvency and Financial Condition Report
Bilancio Consolidato Integrato
Graphic design by
Mercurio GP S.r.l.
Unipol Group
Solvency and Financial Condition Report 2020
Translation from the Italian original solely for the convenience of international reader
CONTENTS
C.6 Other material risks | 95 | |||
Introduction | 5 | C.7 Any other information | 96 | |
Definitions and glossary | 7 | C.7.1 Sensitivity analysis | 96 | |
Summary | 9 | |||
D Valuation for solvency purposes | 99 | |||
D.1 Assets | 105 | |||
A Business and Performance | 19 | |||
D.1.1 Valuation criteria | 105 | |||
A.1 Business | 20 | D.1.2 Quantitative information on asset valuation | 109 | |
A.2 Underwriting performance | 37 | D.2 Technical provisions | 112 | |
A.3 Investment performance | 44 | D.2.1 Valuation criteria | 112 | |
A.4 Performance of other activities | 47 | D.2.2 Quantitative information on the valuation of the technical | ||
A.5 Any other information | 48 | provisions | 117 |
B System of governance
B.1 General information on the system of of governance B.1.1 Tasks and responsibilities of Board of Directors B.1.2 Transactions with related parties
B.1.3 Tasks and responsibilities of Key Functions
B.1.4 Remuneration policies
B.2 Fit and proper requirements
B.3 Risk management system, including the own risk and solvency assessment
B.3.1 Risk management system
B.3.2 Own risk and solvency assessment (ORSA)
B.3.3 Internal model governance
B.3.4 Procedures that ensure consistency within the Group of the internal control and risk management systems and reporting
B.4 Internal control system
B.5 Audit
B.6 Actuarial function
B.7 Outsourcing
B.8 Any other information
D.2.3 Information on the effects of the application of volatility | |
adjustment | 120 |
51 | D.3 Other liabilities | 121 |
52 | D.3.1 Valuation criteria | 121 |
52 | D.3.2 Quantitative information on the valuation | of other |
61 | liabilities | 121 |
62 | D.4 Alternative methods for valuation | 122 |
63 | D.5 Any other information | 122 |
64 | ||
66 | E Capital management | 125 |
66 | E.1 Own funds | 126 |
67 | E.1.1 Introduction | 126 |
69 | E.1.2 Capital management policy | 127 |
E.1.3 Information on available and eligible own funds | 128 | |
E.2 Solvency Capital Requirement and Minimum | Capital | |
70 | Requirement | 135 |
71 | E.3 Use of the duration-based equity risk sub-module in the | |
73 | calculation of the Solvency Capital Requirement | 136 |
75 | E.4 Differences between the standard formula and any internal | |
model used | 136 | |
75 | E.5 Non-compliance with the Minimum Capital Requirement and | |
80 | non-compliance with the Solvency Capital Requirement | 139 |
E.6 Any other information | 139 |
C Risk profile | 83 | ||
C.1 Underwriting risk | 84 | QRT models | 141 |
C.2 Market risk | 88 | ||
C.3 Credit risk | 91 | ||
Independent Auditors' Report | 161 | ||
C.4 Liquidity risk | 93 | ||
C.5 Operational Risk | 93 |
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Unipol Gruppo Finanziario S.p.A. published this content on 14 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 May 2021 15:48:07 UTC.