Garanti RE is a …………………. company registered in …………………., having a capital of …………………..
Garanti RE provides reinsurance protection to insurance companies in the following world areas: ………………….. We offer reinsurance solutions in the form of annual Treaties on proportional and non-proportional basis.
Our reinsurance products are available for the following classes: Oil & Energy – onshore and offshore, Alternative Energy, Property, Power, Affinity, Cyber, Travel, and Life & Health.
Vision, Mission, Values
Our vision at Garanti RE is to become a leading provider of reinsurance to help make the world more resilient.
Our distinct mission is defined by innovation in providing reinsurance solutions and excellent support services in order to power sustainable progress for the benefit of our clients and society.
We have built our business based on the following core values, which reflect how we conduct our operations, communicate and grow: Trust, Agility, Team Spirit.
Corporate Social Responsibility
Garanti RE has developed a Corporate Social Responsibility programme to support its initiatives aimed at building a better future for next generations.
Internally, Garanti RE has implemented a Document Management System to move towards a mostly paperless workplace. In addition, our company has put in place an extensive recycling system.
Corporate Governance
The Board of Directors is in charge of setting the long-term goals of the company, within the legal framework and standards. The Board is dedicated to enabling the company to support its clients in staying ahead of emerging risks in a complex world.
(Names)…………………………….
Board Committees
The oversight committees, Audit & Risk and Nomination, Remuneration & Corporate Governance, supervise the conduct of the organisation in relation to its management.
Audit & Risk Committee
(Names)…………………………….
The Audit & Risk Committee’s main role is to assist the Board of Directors in its oversight responsibilities regarding financial reporting, audit, internal control, risk management. The Audit & Risk Committee is also responsible for monitoring the company’s compliance with applicable laws and regulations and with the code of conduct.
The Committee fulfils the following responsibilities:
- Reviews the company’s accounting and financial practices;
- Reviews the company’s financial statements and internal controls and audit;
- Monitors compliance with laws and regulations;
- Monitors compliance of the anti-money laundering processes;
- Advises on the appointment of internal auditors;
- Advises on the appointment, compensation and oversight of external auditors.
Nomination, Remuneration & Corporate Governance Committee
(Names)…………………………….
The Nomination, Remuneration & Corporate Governance Committee has the following functions:
- assesses competencies of Board members;
- reviews the Board’s succession plans;
- evaluates the Board’s performance;
- advises the Board on executive remuneration and incentive policies, remuneration packages of senior management, recruitment, retention and termination policies for senior management, incentive schemes, pension arrangements and the remuneration framework for the directors;
- monitors the overall organisational structure.
Enterprise Risk Management
At Garanti RE, we consider risk management fundamental for conducting our business and protecting stakeholders’ value. For this purpose, we have developed a comprehensive Risk Management Policy within an Enterprise Risk Management (ERM) framework that is embedded across all operations.
The ERM framework is meant to support the achievement of our strategic and operational objectives, in alignment with the corporate vision, mission, values, processes, and governance.
Risk Management Strategy
Our Risk Management Strategy consists of the following elements:
• Established limits for levels of risk taking;
• Risk governance structure with defined accountabilities;
- Management of corporate risk exposures, through identifying, assessing and mitigating to various categories of risk, such as preventable risks, strategic risks, and external risks;
• Internal control framework, which incorporates implementation of risk mitigation strategies and development of corporate policies and procedures; - Business Continuity Management Systems meant to ensure organizational resilience;
- Prompt and efficient communication and reporting to relevant stakeholders.
Compliance
The Compliance Officer ensures compliance with the relevant requirements set by the Central Bank of ……………………. or established by other regulators to which Garanti RE is subject.
The Compliance Officer is approved by the Central Bank of ………………. and has unrestricted access to Garanti RE’s records and ultimate recourse to the Board of Directors and Executives.
Garanti RE is committed to the highest professional standards and adherence to all applicable regulatory requirements from financial supervisory bodies.
The Compliance Officer also ensures Garanti RE follows the policies and guidelines set out in the Anti-Money Laundering Manual and in the Financial Crime Module of the Insurance Rulebook as issued by the Central Bank of …………………….
Our People
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