Actuarial function
The Actuarial Function is responsible, with reference to the Group, for coordinating the calculation of the technical provisions, assessing the adequacy of the methods, the models and the assumptions on which said calculation is based, and assessing the sufficiency of the quality of the data used.
The Actuarial Function also provides advice and expresses opinions on various aspects, including the Group underwriting risks and the technical reserves, Group solvency (current and prospective), aspects connected to the asset and liability management, reinsurance policies and other risk mitigation techniques and the Group reinsurance programme considered as a whole, including reinsurance agreements and other forms of risk transfer or other risk mitigation techniques. It also contributes to the effectiveness of the risk management system.
The Actuarial Function may also be requested to intervene when defining the strategic plan and for specific business requirements.