Internal control: the final component of a strategy to manage governance, risk, and compliance within the Solvency 2

Topics covered:

  • Progressive set up of the "3 lines of defense": risks & compliance, then internal audit, then internal control - for a global risk management governance
  • Expected results of the internal control program
  • Solvency 2 regulation, pillar 2 requirements, for an efficient enterprise governance

"Indeed we are both totally convinced that efficient decision-making cannot be based on financial analysis alone. Operational governance is essential for optimizing the organization’s operational efficiency and for increasing its performance." Oktay Engintalay et Hervé Larue

About MFA

MFA is one of the first mutual insurance companies set up in France. In 1930 it insured taxi drivers. MFA now covers all categories of private individual insurance needs: household and car insurance, healthcare and recreation. MFA also offers funding solutions and retirement saving products.
The company has 16 centers in France and in 2016 it generated revenues in excess of 64 million euros from 155,000 policies. Its head office is located in the Paris area.

Internal control: the final component of a strategy to manage governance, risk, and compliance within the Solvency 2Read the case study