EIOPA publishes the Underlying Assumptions in the standard formula for the SCR calculation

The European Insurance and Occupational Pensions Authority (EIOPA) has
published the Underlying Assumptions in the standard formula for the
Solvency Capital Requirement (SCR) calculation.

The paper aims to support supervisors and undertakings in application of
the Solvency II Preparatory Guidelines on forward looking assessment of
own risks (FLAOR).

EIOPA committed to develop this paper as a follow-up to its public
consultation on Solvency II Preparatory Guidelines in 2013. Several
stakeholders asked for a transparent and comprehensive guidance on how to
fulfil the requirement to assess the deviation of their risk profile from
the underlying assumptions in the FLAOR process, and EIOPA has
acknowledged the need for such clarifications. Undertakings are requested
to fulfil this assessment in their FLAOR from 2015 onwards.

The legal status of the document is similar to the Technical Specifications
issued by EIOPA in April 2014. It reflects the content of the Solvency II
and Omnibus II Directives as well as the available draft of the (Level 2)
Delegated Acts.

Click here (Link:
https://eiopa.europa.eu/publications/technical-specifications/index.html
)to access the relevant page at EIOPA website.


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