Within the internal organization of ECB itself, the status of the risk management function was enhanced, too, and it was promoted to the level of a directorate in 2012. These changes have been significant, but it would not be proper to claim that the development of the risk management organization and its activities in the Eurosystem are now complete.
Second, as insurance providers, companies receive funds from policyholders up front and must make important investment decisions to ensure that liquidity needs are met when called upon by policyholders. The current investment climate has been plagued with much uncertainty with many “sure” investments having disappeared from the financial landscape.