Enterprise Risk Management
Wilton Re’s risk management framework is embedded in our business processes and is integral to management decision-making. Our conservative risk appetite is aligned with our business strategy and risk-return profile. Wilton Re’s senior management and Board of Directors regularly review our risk profile relative to our risk appetite and business objectives.
Wilton Re’s governance structure clearly establishes the various risk management responsibilities among staff, senior management and the Board of Directors. Risk management activities include the identification, measurement, control, management and reporting of material existing and emerging risks, in the context of our strategy, objectives and risk appetite. These risks include:
- Insurance Risks, such as mortality and lapse risks, which are controlled by a rigorous underwriting approach and thorough due diligence process
- Financial Risks, such as credit and interest rate risks, which are controlled by our conservative investment philosophy
- Operational Risks, covering internal process, fraud and reporting risks, which are controlled through comprehensive oversight by an experienced team and an internal control system which obtains annual Sarbanes-Oxley 404 compliance
- External Risks, such as changes in regulatory and accounting environments, which are carefully monitored to ensure Wilton Re can take action with forethought and agility to mitigate any exposure
Our robust Risk Committee process ensures the careful review of company actions which could impact our risk profile. Actions must be examined by our internal Risk Committee, which consists of senior executives across all major disciplines.
Wilton Re conducts regular self assessments of our risks and capital adequacy at an enterprise level. We also self-evaluate our risk framework and policies in pursuit of improvements to our processes.