ORSA vs ORA [12]

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Bullet points include: EIOPA-BoS-14/259 (“Guidelines on own risk and solvency assessment”) sets out 20 guidelines including ones on: General approach, role of Board, documentation (including policy, record, internal report, supervisory report), frequency. Need for a forward-looking perspective of overall solvency needs. Valuation and recognition bases. Continuous compliance with regulatory capital requirements and technical provisions. Deviations from assumptions underlying SCR calculation. Linking ORSA to strategic management and decision-making. Additional guidelines for groups

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