MATRIZ DE AVALIAÇÃO DE RISCOS Preparado por:

mês, ano. Revisado por:

Nome do Processo:

Descrição Referência do Descrição do

# Nome do Subprocesso Área do Risco Proc. Map Categoria Risco Probabilidade Impacto Risco Inerente Controle Proc. Map Desenho Performance Rating Controle Score Risco ResidualPlano de Teste Teste Auditor Eficaz / Não Eficaz

SATISFACTOR
1 R01 1 LOW 1 LOW 1 LOW CCM01 1 GOOD 1 GOOD 1 1 LOW Test Plan#01
Y

SATISFACTOR
1 R02 1 LOW 1 LOW 1 LOW CCM01 1 GOOD 1 GOOD 1 1 LOW Test Plan#02
Y

SATISFACTOR
1 R03 1 LOW 1 LOW 1 LOW CCM01 1 GOOD 1 GOOD 1 1 LOW Test Plan#03
Y

Rating Geral 1.00 BAIXO

 RISK CATEGORIES
1. Market / Asset-Liability-Management risk The risk of loss arising due to changes in market prices or parameters influencing market prices,
and in particular the resultant interest rate guarantee risks from asset liability management or from
changes to the net worth of subsidiary companies or participations. This includes changes in market
prices due to a worsening of market liquidity.

1.1 Equity risk The risk of loss based on market changes in the value of an equity or a
participation portfolio.
1.2 Interest rate risk
The risk of loss which can arise due to changes in market interest rates e.g. if future interest income
is above or below a fixed or guaranteed interest rate applicable to reserves.
1.3 Real estate risk The risk of loss arising from changes in the market price for real estate investments.
1.4 Foreign exchange risk The risk of loss arising from changes in foreign currency exchange rates.
1.5 Other market risks Commodity risks are included here.

2. Credit risk
The risk of loss arising from an unexpected default or change in the creditworthiness of a business
partner e.g. borrowers, counterparties, issuers, third parties and reinsures (default and migration
risk).
2.1 Issuer/Investment credit risk The risk of loss arising from an unexpected change in the creditworthiness (migration or default) or
collateral of a debtor. Default occurs as the result of the inability or unwillingness to fulfill contractual
obligations.

2.2 Counterparty credit risk
2.3 Country transfer risk
The risk of loss due to default of the counterparty within the context of transactions e.g. derivative,
reinsurance, loans etc.
The risk of loss arising from cross-border transactions as a result of transfer and convertibility risks
(e.g. the risk of a country not being able to make payments due, freeze on deposits or limitations on
foreign currency transfers).

2.4 Settlement risk

The risk of loss arising from trading activities when there is a mutual undertaking to deliver on a
progressive basis, for example when the trading centers fall within different time zones, and the
counterparty does not fulfill its contractual obligations, despite the fact that the other party to the
contract has already performed its duties.

3. Actuarial risk
(The risk of loss that exists) EITHER because indemnities must be paid in the future from premiums that have to be laid down in
advance, where the scope of the indemnity is not known for certain while the premium is specified
given the stochastic nature of future claims payments (Property & Casualty business);
OR a long-term return is to be delivered from premiums laid down in advance and remaining
constant, where the agreed scope of the return cannot be delivered (Life business).
 For Property & Casualty business:
3.1 Premium risk The risk of loss because of an unexpected high loss volume resulting in an insufficient coverage of
premiums. Premium risk is subdivided in catastrophe risk (CAT risk) and non-catastrophe risk (non-
CAT risk).
3.2 Reserve risk The risk of loss resulting from deviations between payments for incurred losses that have not yet
been definitively settled and the reserves set up to cover these payments, or the use of an
insufficient basis for the calculation of reserves.
For Life business:
3.3 Mortality/ Longevity risk The risk of loss attributable to positive or negative changes in the assumed medical prognosis for
life expectancy, occupational disability, illness and the need for long-term care as well as
underestimation of these probabilities.
3.4 Calamity risk The risk of loss because of strong short-term fluctuation in the mortality rate, for example as a result
of war or epidemics.

4. Business risk is subdivided into cost risk and operational risk.

4.1 Cost risk The risk of a budget deficit resulting from the fact that fixed costs are accompanied by lower returns
than planned.
4.2 Operational risk The risk of loss resulting from inadequacies or failures in processes or controls due to technical
resources, people, organization or external factors.

5. Liquidity risk The risk of loss resulting from the danger that short-term current or future payment obligations
cannot be met or can only be met on the basis of altered conditions, along with the risk that in the
case of a liquidity crisis of the company, refinancing is only possible at higher interest rates or that
assets may have to be liquidated at a discount. This does not include the risk of a change in market
prices due to a worsening of the market liquidity of assets (which is a component of Market/ALM
risk).

6. Reputational risk The risk of loss caused by a decline in the reputation of a specific OE or the whole Group from the
point of view of its stakeholders - shareholders, customers, staff, business partners or the general
public. First, each action, existing or new transaction or product within Allianz Group that can cause
damage to the reputation might lead to losses in the appraisal value either directly, or indirectly via
triggering losses in other risk categories.
Second, every loss in other risk categories – irrespective of its size – can cause lasting damage to
the reputation of the Allianz Group if it becomes public knowledge. Therefore, reputational risk can
be a consequence of losses in all risk categories such as market or credit risks, as well as a cause
for them.
7. Strategic risk The risk of an unexpected negative change in the company value, arising from the adverse effect of
top-level decisions on both business strategies and their implementation. This risk is a function of
the compatibility between strategic goals, the business strategies developed to achieve those goals
and the resources deployed against these goals. Strategic risk also includes the ability of the
management to effectively analyze and incorporate external factors, which could impact the future
direction of the operating entity.
These seven risk categories at least partially cover the following three other risk definitions, which
do not constitute separate risk categories or sub-risks, in the following way:

8. Emerging risk drivers Allianz Group has to monitor various important drivers of emerging risks, which can be the causes
for losses in the above defined seven categories of risk or sub risks. Examples are risks from new
technological developments, new or changing environmental risks or socio-demographic changes.
These risks have implications on credit and actuarial risks and bear a high loss potential (e.g.
asbestos, drug related product liability claims, and gene technology).

9. Financial misstatement risk The risk of loss caused by issuing external financial reports which, are not fairly stated in all material
respects. Financial misstatement risk is partially covered by the business risk category (via
operational risk).

10. Legal risk The risk of loss caused by non-compliance with existing or new legislation or supervisory
regulations, disadvantageous changes to existing laws or supervisory regulations, as well as the risk
of a loss resulting from material litigation or regulatory proceedings, in particular through
disadvantageous interpretations of laws by courts.
Furthermore, legal risk includes losses due to ambiguity of laws or unfavorable contract clauses.
Legal risk does not constitute a separate risk category, as it is captured by business risk (via
operational risk).
Further details regarding risk categories and risk definitions can be found in the Group Risk Policy.