Regulatory Alerts2024-12-05
Order on the Calculation of the Solvency Capital Requirement Using an Internal Model for Group 1 Insurance Undertakings
The Danish Financial Supervisory Authority issued this Order to establish detailed requirements for Group 1 insurance undertakings calculating solvency capital using internal models under Solvency II. It mandates strict approval processes, rigorous validation, and comprehensive documentation standards to ensure models accurately reflect risk profiles and provide policyholder protection equivalent to the standard formula. The regulation also covers partial and group-internal models, specifying governance responsibilities and enforcement measures for non-compliance.
Share