Drivers of Risk

Drivers of Risk in relation to Stress Tests – Pension Companies
It is important to differentiate between the pension company and the investment and risk-sharing group (IRG) regarding drivers of risk. The largest drivers of risk for pension companies are expenses risk, as well as market and macroeconomic developments. For IRGs, market and macroeconomic developments dominate, followed by underwriting risks. In both cases, operational risk also plays a role.