Regulatory Alerts2015-03-27
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Pillar 1: Undertaking-specific parameters
This document establishes the detailed data requirements and governance criteria that insurance and reinsurance undertakings must provide when applying for undertaking-specific parameters (USPs) under Solvency II. It mandates the submission of specific tables covering general company information, solvency capital requirement summaries, and granular data for premium, reserve, catastrophe, and mortality/morbidity risks. The form requires proof of data quality, governance structures, actuarial validation, and consistency with standard formula assumptions for both solo and group calculations.
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