Group Annual Report 2023

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Significant risks and uncertainties

The risk management is firmly anchored in the management culture of the companies and builds on a clearly defined conservative risk policy, extensive risk expertise, a developed risk toolkit and risk-based Management Board decisions. The detailed risk report of the VIG Insurance Group including the impact of climate change and the associated climate risks can be found in the notes to the consolidated financial statements in the section Risk strategy and risk management starting on page 211.

For information regarding the financial instruments used for investments reference is made to Note 2 Financial assets and liabilities as well as other balance sheet items evaluated according to IFRS 9 starting on page 117 and 25.4 Financial instruments starting on page 193 in the consolidated financial statements as well as to the Risk report starting on page 211.