Regulatory Alerts2025-06-25 | NBB_2025_09Added · Updated
Circular NBB_2025_09 / Internal Risk and Solvency Assessment (ORSA)
This circular provides the National Bank of Belgium's guidance on the Internal Risk and Solvency Assessment (ORSA) for insurance and reinsurance companies. It transposes EIOPA guidelines on ORSA, adding specific details and good practices, including a dedicated chapter on stress testing, sensitivity analysis, and scenario analysis. The document also includes an annex containing a table for assessing the most material risks.