3 FACTEURS DE RISQUES, GESTION DES RISQUES ET PILIER III Gestion des risques
Autres risques 3.2.10 Risques liés aux activités 3.2.10.1 d’Assurances Natixis Assurances +;NCRCM MMOL;H=?M =IHMNCNO? F? J~F? MMOL;H=?M >? +;NCRCM ?N ?MN ILA;HCMw? ;ONIOL >? >?OR GwNC?LMn F? GwNC?L MMOL;H=?M >? J?LMIHH?M ILC?HNw MOL F? >wP?FIJJ?G?HN V >? JILN?@?OCFF?M >f;MMOL;H=?
PC? ?N >? =;JCN;FCM;NCIH r PI=;NCIH >fwJ;LAH? IO >? L?NL;CN? ;CHMC KO? >? JILN?@?OCFF?M >? JLwPIS;H=?n F? GwNC?L MMOL;H=?M HIH PC? ILC?HNw MOL F? >wP?FIJJ?G?HN >? V JILN?@?OCFF?M >f;MMOL;H=? ONI */% *OFNCLCMKO? B;?HNM >? F; PC? JLIN?=NCIH DOLC>CKO? M;HNw ?N >CP?LM?M A;L;HNC?M >IGG;A?M pN;HN >IHHw F; JLwJIH>wL;H=? >? Ff;=NCPCNw >fwJ;LAH? F?M JLCH=CJ;OR LCMKO?M >? +;NCRCM MMOL;H=?M MIHN >? H;NOL? @CH;H=CvL? );n=IGJ;AHC? ?MN J;L ;CFF?OLM ?RJIMw? ;O LCMKO? >? MIOM=LCJNCIH PC? ?N HIH PC? ;CHMCnKOf;O LCMKO? >? =IHNL?J;LNC? Risque de marché )? LCMKO? >? G;L=Bw ?MN JLCH=CJ;F?G?HN MOJJILNw J;L F; @CFC;F? - " 3C? r NL;P?LM F?M ;=NC@M @CH;H=C?LM ?H @;=? >? M?M ?HA;A?G?HNM r =;JCN;F ?N N;OR A;L;HNCM =IHNL;NM ?H ?OLIMn nGCFFC;L>M >f?OLIM ?H P;F?OL M AwHwL;F ); MI=CwNw ?MN =IH@LIHNw? ;OR LCMKO?M >? >wJLw=C;NCIH >? M?M ;=NC@M <;CMM? >?M G;L=BwM ;=NCIHM CGGI?M MJL?;>M B;OMM? >?M N;OR ;CHMC KOf;O LCMKO? >? <;CMM? >?M N;OR AwHwL;HN OH? CHMO@@CM;H=? >? L?H>?G?HN JIOL @;CL? @;=? ;OR =;JCN;OR ?N N;OR A;L;HNCM "H LwJIHM? r =? LCMKO? - " 3C? H? =IGG?L=C;FCM? >?JOCM JFOMC?OLM ;HHw?M KO? >?M =IHNL;NM r N;OR GCHCGOG A;L;HNCM Yn1*$n^ nHOFMn =?M =IHNL;NM L?JLwM?HN?HN JFOM >? n >?M ?HA;A?G?HNM )? 1*$ GIS?H L?MMILN r n ); A?MNCIH >O LCMKO? >? G;L=Bw =IHMCMN? ?H F; >CP?LMC@C=;NCIH >?M MIOL=?M >? L?H>?G?HN HIN;GG?HN PC; F?M CHP?MNCMM?G?HNM >;HM >? HIOP?FF?M =F;MM?M >f;=NC@M @CH;H=?G?HN >? Ffw=IHIGC? CH@L;MNLO=NOL?i =;>Lw? J;L OH? ;FFI=;NCIH MNL;NwACKO? >w@CHC? ;HHO?FF?G?HN N?H;HN =IGJN? >?M =IHNL;CHN?M LwAF?G?HN;CL?M >?M ?HA;A?G?HNM ?HP?LM F?M ;MMOLwM ?N >?M ?RCA?H=?M =IGG?L=C;F?M Risque de crédit )? MOCPC ?N F; A?MNCIH >O LCMKO? >? =Lw>CN MIHN Lw;FCMwM >;HM F? L?MJ?=N >?M HILG?M ?N FCGCN?M CHN?LH?M >? +;NCRCM MMOL;H=?M On n>w=?GO JILN?@?OCFF? >? N;OR ?MN CHP?MNC MOL >?M =IHNL?J;LNC?M >CMJIM;HN >fOH L;NCHA MOJwLC?OL IO wA;F r Risque de souscription vie )? JLCH=CJ;F LCMKO? >? MIOM=LCJNCIH PC? ?MN FCw r Ff;=NCPCNw >fwJ;LAH? "HnMCNO;NCIH >? N;OR J;LNC=OFCvL?G?HN <;M F? LCMKO? G;D?OL =ILL?MJIH> ;O LCMKO? >? <;CMM? >?M L;=B;NM ?N IO >? NLIJ @ILN?M =IFF?=N?M MOL F? MOJJILN ?H ?OLIMn F?M LwCHP?MNCMM?G?HNM ICFO;HN F? L?H>?G?HN >O @IH>M AwHwL;F !?M ;=NCIHM IHN wNw GCM?M ?HnJF;=? JIOL JLCILCM?L F; =IFF?=N? ?H OHCNwM >? =IGJN?n =Lw;NCIH >?nJLI>OCNM @;PILCM;HN F?M OHCNwM >? =IGJN? =;GJ;AH?M >?n=IGGOHC=;NCIH ILC?HNw?M MOL F?M OHCNwM >? =IGJN?
Risque de souscription non vie )? LCMKO? >? MIOM=LCJNCIH HIH PC? >? +;NCRCM MMOL;H=?M ?MN JLCH=CJ;F?G?HN JILNw J;L F; @CFC;F? - " MMOL;H=?Mn LCMKO? >? JLCG?n ;@CH >? Mf;MMOL?L KO? F?M JLCG?M J;Sw?M J;L F?M V ;MMOLwM =ILL?MJIH>?HN ? MOLP?CFF;H=? >? MIH JILN?@?OCFF? <;Mw? MOL Ff;NNLCfOH M=IL? JIOL =B;KO? =IHNL;N r J;LNCL >?M wPwH?G?HNM J;MMwM MOL OH BCMNILCKO? >? NLICM ;HM 0IHN JLCM ?H =IGJN? HIN;GG?HN F; H;NOL? >?M MCHCMNL?M F?OL HIGf;ONL?M P;LC;? L?MJIHM;? ? MOLP?CFF;H=? =IHNLC?HNC@C?L F?M LCMKO?M JIN?HNC?FM >? MOLP?H;H=? >? MCHCMNL?M AL;P?M ?N J;LNC=CJ? ;CHMC r F; GCM? ?H JF;=? >?M =IOP?LNOL?M >? Lw;MMOL;H=? ;>wKO;N?Mn LCMKO? >? MCHCMNL?n FILM >? =B;KO? CHP?HN;CL? ?MN ?@@?=NOw? OH? V wP;FO;NCIH ;=NO;LC?FF? >?M JLIPCMCIHM JIOL MCHCMNL?M r J;S?L r J;LNCL >? GwNBI>?M MN;NCMNCKO?M L?=IHHO?M J;L F; JLI@?MMCIH ?N ?RCAw?M J;L F? LwAOF;N?OLn LCMKO? =;N;MNLIJB?n F? LCMKO? =;N;MNLIJB? M? >w@CHCN J;L Ff?RJIMCNCIH V r OH wPwH?G?HN >? @ILN? ;GJF?OL AwHwL;HN OH? GOFNCNO>? >? MCHCMNL?M N?GJxN? LCMKO? >? L?MJIHM;IH= FfI? =IOP?LNOL?M ?H Lw;MMOL;H=? MICN JLIP?H;HN >? FfpN;N >;HM F? =;>L? J;L ?R?GJF? >? =;N;MNLIJB?M H;NOL?FF?M IO >f;NN?HN;NM MICN ;OJLvM >?M Lw;MMOL?OLM JLCPwM HIN;GG?HN >;HM F? =;>L? >?M N?GJxN?M IO >? MCHCMNL?M L?MJIHM;? JIIFM >? Lw;MMOL;H=? Risque de contrepartie )? LCMKO? >? =IHNL?J;LNC? >? +;NCRCM MMOL;H=?M JILN? JLCH=CJ;F?G?HN MOL F?M =IHNL?J;LNC?M >? Lw;MMOL;H=? ); MwF?=NCIH >?M Lw;MMOL?OLM ?MN FfwFwG?HN =Fw >? F; A?MNCIH >? =? LCMKO?n F?M Lw;MMOL?OLM ;P?= F?MKO?FM NL;CN? +;NCRCM MMOL;H=?M IHN ?H V JL;NCKO? OH? HIN;NCIH @CH;H=CvL? J;L FfOH? ;O GICHM >?M NLICM ;A?H=?M >? HIN;NCIH L?=IHHO?M ;O HCP?;O CHN?LH;NCIH;F wA;F? IO MOJwLC?OL? r
?H wKOCP;F?HN 0N;H>;L> -IILfMn F; GOFNCJFC=CNw >?M Lw;MMOL?OLM ?MN @;PILCMw? >;HM OH? IJNCKO? >? V >CP?LMC@C=;NCIH >? F; =IHNL?J;LNC? r >?M @CHM >? >CFONCIH >O LCMKO? Coface !? J;L M?M ;=NCPCNwM I@;=? ?MN ?RJIMw? r =CHK AL;H>M NSJ?M >? LCMKO?M LCMKO? >? =Lw>CN LCMKO? @CH;H=C?L LCMKO? MNL;NwACKO? LCMKO? >? Lw;MMOL;H=? ?N LCMKO? IJwL;NCIHH?F ?N >? HIH
=IH@ILGCNw >IHN F?M >?OR JLCH=CJ;OR MIHN F? LCMKO? >? =Lw>CN ?N F? LCMKO? @CH;H=C?L Risque de crédit )? LCMKO? >? =Lw>CN M? >w@CHCN =IGG? F? LCMKO? >? J?LN? ?H L;CMIH >O HIH
J;C?G?HN J;L OH >wfOH? =Lw;H=? >O? r OH ;MMOLw >O ALIOJ? I@;=? AvL? F? LCMKO? >? =Lw>CN ;O NL;P?LM >? HIGOL?M =IOPL;HN F; P;FC>;NCIH >?M N?LG?M >? F; JIFC=? ;@@wL?HN? ;OR JLI>OCNM F; N;LC@C=;NCIH F? MOCPC >? F; =IOP?LNOL? >O LCMKO? >? =Lw>CN ?N F; >CP?LMC@C=;NCIH >O JILN?@?OCFF? )? LCMKO? >? =Lw>CN J?ON xNL? ;AAL;Pw ?H L;CMIH >? F; =IH=?HNL;NCIH >?M ?RJIMCNCIHM J;SM M?=N?OLM >wCMNCHAO? F? LCMKO? >? @LwKO?H=? ?N F? LCMKO? >? JICHN?n F? LCMKO? >? @LwKO?H=? L?JLwM?HN? F? LCMKO? >fOH? ?M CGJ;SwM MOL OH? GOFNCNO>? >? >w? =? LCMKO? ?MN @;CN? JIOL =B;KO? LwACIH ?N J;SM J;L F? MOCPC >O L;NCI >? MCHCMNL;FCNw CHMN;HN;Hw "H G;NCvL? >? MOCPC >?M ?RJIMCNCIHM ?N >?M JILN?@?OCFF?M F? ALIOJ? ; GCM ?H JF;=? OH JCFIN;A? ;@@CHw >? M?M LCMKO?M !? =? @;CN F?M CGJ;SwM MIHN ;H;FSMwM >? G;HCvL? B?<>IG;>;CL? J;L F? =IGCNw >? >CL?=NCIH ALIOJ? ?N G?HMO?FF?G?HN J;L F? =IGCNw >f;L? MCHCMNL;FCNw >?M >C@@wL?HN?M LwACIHM >? MIOM=LCJNCIH MIHN wA;F?G?HN MOCPCM ;O HCP?;O =IHMIFC>w >? I@;=?n
(? L;NCI >? MCHCMNL;FCNp CHMN;HN;Hp ?MN OH CH>C=;N?OL B?<>IG;>;CL? J?LG?NN;HN >? L?=IHMNCNO?L F pPIFONCIH >O L;NCI >? MCHCMNL;FCNp %F ?MN MOCPC JIOL =B;KO? LpACIH ?N =B;KO? J;SM ?N @;CN F I? L?JILNCHAM B?<>IG;>;CL?M ;O M?CH >? I@;=?
J?LG?NN;HN HIN;GG?HN ;OR ;L? MOCPL? F pPIFONCIH >? F?OL JILN?@?OCFF? ?N >? >pN?=N?L NION? >pAL;>;NCIH pP?HNO?FF? ;@CH >? G?NNL? ?H JF;=? >?M ;=NCIHM =OL;NCP?M l OH MN;>? JLp=I=?
168
NATIXIS DOCUMENT D’ENREGISTREMENT UNIVERSEL 2020