+Article 25 2.

Article 25 2.

The risk-management system shall cover, in a manner that is proportionate to the size and internal organisation of IORPs, as well as to the size, nature, scale and complexity of their activities, risks which can occur in IORPs or in undertakings to which tasks or activities of an IORP have been outsourced, at least in the following areas, where applicable:

(a) 

underwriting and reserving;

(b) 

asset–liability management;

(c) 

investment, in particular derivatives, securitisations and similar commitments;

(d) 

liquidity and concentration risk management;

(e) 

operational risk management;

(f) 

insurance and other risk-mitigation techniques;

(g) 

environmental, social and governance risks relating to the investment portfolio and the management thereof.

1. Panoramica

,

1.1 Riferimenti

1.2 Requisiti identificati

1.3 Standard correlati

2. Requisiti identificati

Requisiti

3. Standard correlati

Standard