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03.05.2016

ARAG SE Earns “Best Risk Management” Award

The 2016 portfolio institutionell Awards jury honors ARAG’s holistic approach

ARAG SE was declared the winner in the "Best Risk Management" category at the 2016 portfolio institutionell Awards ceremony in Berlin. "The jury was impressed with ARAG SE's risk management concept for several reasons. First of all, the presentation of its holistic approach was outstanding. Furthermore, the processes involved are not merely formalities, but are actually practiced by ARAG. And that goes for the risk philosophy as well," as the jury pointed out in its statement.

“This award honors the successful work done by the ARAG Group and our Risk Management team in recent years. I am especially pleased that we won the award in our first year of participation,” emphasizes Dr. Joerg Schwarze, Group Board Member, Risk Management/Controlling at ARAG SE. ARAG SE is the operational holding company of the ARAG insurance group. The Düsseldorf family-owned enterprise is one of only four insurance groups based in Germany that have implemented an internal capital model in accordance with Solvency II – approved and certified by the Federal Financial Supervisory Authority (BaFin).

The jury was impressed above all with the holistic character of the risk management system in place at ARAG SE and explained its decision as follows: “We examined the documents with an eye to determining whether processes are actually practiced or whether they are mere formalities. We asked whether the organizations in question live by a risk philosophy. Equally important – and the winner earned high marks on this point – was the question of whether sufficient consideration is demonstrably given to the business model and the industry.“ But the risk management system of ARAG SE was also found convincing in terms of quality assurance, organization and continuing development.

The portfolio institutionell Awards – for institutional investors in Germany – were conferred for the tenth time this year. The initiator and organizer is the expert medium portfolio institutionell. Prizes were awarded in 14 categories. The independent jury is composed of consultants, representatives of consulting firms and professors at universities or research institutes.

 
 

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