Review
Risk management – effectively understanding and governing risk
James Illingworth Chief Risk Officer
- Progress with Enterprise Risk Management capability has been significant in 2007.
- Group wide economic modelling now able to assist in risk and return evaluation.
- Development of an improved risk appetite framework and the mechanism for risk reporting is a key aim for 2008.
- Claims ratio of 36% favourably compares to expectation of 55%
- Maximum RDS represents 89% of risk appetite