Risk management is a key component of Swiss Life's financial management process. Overall responsibility lies with the Group Chief Financial & Risk Officer.

The Investment and Risk Committee of the Board of Directors:

• monitors the process,
• takes decisions with regard to the risk budgeting,
• keeps the Board of Directors in its entirety informed on the company’s risk situation.

Further risk management functions are performed by the Corporate Executive Board’s Group Risk Committee and the Asset and Liability Management Committees at country level.

The key tasks of risk management comprise the breakdown of risks into risk classes and their analysis, measurement and control.

Asset and liability management (ALM), with its long-term approach, uses the risk evaluations made as a basis for the investment strategy. The aim is to be in a position to pay benefits whenever they fall due and always have sufficient equity to cover fluctuations in value.