Source: http://annual-report.vig.com/2017/group-management-report/disclosures-on-outsourcing.html
Timestamp: 2019-02-17 12:31:06
Document Index: 350331748

Matched Legal Cases: ['§ 156', '§ 109', '§ 267', '§ 243', '§ 243', '§ 156', '§ 109']

Disclosures on outsourcing - Vienna Insurance Group Group Annual Report 2017
Disclosures on outsourcing according to § 156(1)(1) in combination with § 109 VAG
Detailed information on the disclosures according to § 267 (3a) in combination with § 243a and § 243 (3)(3) UGB is available in Note 8. Consolidated shareholders’ equity in the notes to the consolidated financial statements starting on page 171.
Disclosures on outsourcing according to § 156 (1)(1) in combination with § 109 VAG
A resolution was adopted allowing external service providers to perform services for VIG Holding. Outsourcing agreements that have been approved by the supervisory authority currently exist with IBM Austria (Internationale Büromaschinen Ges. m.b.H.), twinformatics GmbH and T-Systems Austria GesmbH, each having its registered office in Austria. In addition to these outsourcing agreements, VIG Holding has not outsourced any critical or important functions or business activities.
Outsourcing takes place in the following areas, in particular, in the Group:
IT area (in particular the operation of operating modules, computing centre operation, application development services, etc.)
The governance functions in the operating insurance companies were sometimes outsourced, in particular:
Actuarial function and related activities
Risk management (risk management function and support measures)
While governance functions within the VIG Group are, with few exceptions, outsourced to other Group companies, critical or important activities in the IT areas and claims handling are outsourced both inside and outside the Group.
The notification or approval of outsourcing of critical or important functions or activities to local supervisory authorities and the approval of such outsourcing by these authorities is done by the companies concerned in accordance with the applicable national legal requirements.
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