2007 - April

3.0
Information on the company’s activities
Haussmann Conseils
APRIL GROUP completed the acquisition of 80% of
Haussmann Conseils on October 1 st , 2003. This company
designs group programs for personal health and personal
protection insurance.
COUCHON Assurances
APRIL GROUP acquired 100% of COUCHON Assurances on
December 23 rd , 2003. This company specializes in the design
and management of P&C insurance policies for individuals.
FORUM FINANCES
APRIL GROUP acquired 100% of FORUM FINANCE on
October 1 st , 2003. Until this point, the Group had owned a
59.58% interest in FORUM FINANCES.
3.4.2. Investments underway
The Company is constantly looking into opportunities for
investments.
3.4.3. Future investments
The Company is constantly looking into opportunities for
investments.
3.5. Management report
See the Executive Board’s management report on page 50
and following
3.6. Issuer risk: risk management at APRIL
GROUP
3.6.1. Identification of risk factors
The Risk Manager is responsible for the overall management
of risks within the Group. Within this framework, the risk
manager has been tasked to identify the main risk factors
defined in the APRIL GROUP risk repository: financial risks,
risks relating to businesses and insurance operations,
operational risks, accounting risks, strategic risks and legal
non-compliance risks.
He is also responsible for identifying new risks based on the
information available or exchanges with risk or insurance
professionals, and members of the Sustainable Development
Committee.
Lastly, he works with the findings and recommendations set
out by the internal audit manager in connection with their
audit assignments and the assignments carried out by other
players, including financial controllers, business division
auditors, Statutory Auditors, etc.
The risk manager informs and advises the Group Committee,
and reports on this mission to the Sustainable Development
Committee.
Each type of risk is subject to an in-depth review, with a risk
map and action plan drawn up for each company, aimed at
eliminating, transferring or reducing the residual risk. The
company’s managers are responsible for implementing the
action plan defined in connection with the audits or mapping
processes, formally reporting at least once a year during
June’s Strategic Committee meeting
At the same time, the Group internal audit manager ensures
the coherency and efficiency of internal control within Group
companies. He coordinates and controls the activities of all
the Group’s internal audit players.
An annual audit plan is drawn up, factoring in exposure to
risks in the various Group companies. This plan concerns all
the companies in the Group.
The plan for Year N is validated at the end of Year N-1 by
the Group Committee. It is formally reviewed and presented
to the Sustainable Development Committee twice a year for
follow-up. It may also be updated as and when necessary
according to the priorities identified over the course of the
year. Several types of mission are carried out: cross-business
and optimization missions, specific audit and control missions,
follow-up missions for companies recently incorporated into
the Group, and follow-up missions on previous audits. These
missions are performed based on a set of standards that all
Group company managers are familiar with: the internal audit
charter.
A written report is drafted along with a synopsis of the
recommendations issued further to all such missions.
Recommendations are classified into 3 categories: high risk,
moderate risk, low risk. For each recommendation, a deadline
is set and a manager appointed.
The application of recommendations is monitored through
follow-up missions during which progress made against the
planned deadlines and recommendations is checked.
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