Risk management is an integral part of our culture and business practices. Maintaining our financial strength and being good stewards of risk are central to helping our customers protect their loved ones and prepare for the future.

Risk governance and culture

We proactively manage our financial, operational and strategic risks through a formal governance structure that promotes cross-functional engagement on critical risk topics. Our Enterprise Risk Management (ERM) program is supported by our Three Lines of Defense framework with oversight from our ERM governance groups. These groups report to our Risk Council and are responsible for specific risks within our ERM framework. Business lines and corporate representatives manage risk within their areas and serve on these groups, enabling collaboration across the enterprise and a forum for communication and action on risk topics.

Three Lines of Defense framework

This framework helps ensure clear roles and responsibilities and encourages our employees to take an active role in risk management. Our Three Lines of Defense framework also facilitates regular communication on risk topics across the company.

Climate governance

Climate risk management is embedded into our Enterprise Risk Management (ERM) framework through the board of directors’ Audit Committee and the Climate Risk and Impact Sub-Committee (CRISC) of our Sustainability Committee. CRISC engages the relevant parts of our company most affected by climate risk to execute the company’s strategic priorities.

Climate risk disclosures

Securian’s climate risk framework is aligned with the Task Force on Climate-related Financial Disclosures (TCFD). We annually file our TCFD report in response to the National Association of Insurance Commissioners Climate Risk Disclosure Survey. We closely monitor evolving standards to inform our climate risk framework moving forward. For more information on our TCFD report, please see the California Department of Insurance.

Building a resilient future

Risk management is more than a process — it’s part of how we build trust and long-term stability. Through disciplined governance, regular assessments and a shared commitment to risk stewardship, Securian Financial continues to advance a sustainable foundation for our customers, employees and communities.