Life Assurance businesses are very volatile and not easily predictable. The activities of Life business are characterized by risks or uncertainties that may affect our objectives negatively or positively. Controlling these risks or uncertainties through a formal program is necessary for the well-being of the organization and everyone in it.
Therefore, AFRICAN LIFE ASSURANCE has implemented a robust risk management framework in which material risks are proactively identified, communicated and managed across the Company.
The implementation of an Enterprise Risk Management helps the Company to consider all the relevant areas of risk from a wide perspective and to ensure that the right prevention and response mechanism are used to maximize stakeholder value.
Again, our risk management statement confirms our resolve to adopting the best strategically appropriate Risk Management approach to control risks.