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Nematrian Reference Library

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Introduction "As part of the preparation for the implementation of Solvency II, national competent authorities should take the appropriate steps in order to put in place from 1 January 2014 the present Guidelines on the forward looking assessment of own risks (based on the ORSA principles). National competent authorities should ensure that insurance and reinsurance undertakings and groups take the appropriate steps to a. establish a process to develop a forward looking assessment of own risks; and b. compile qualitative information supporting the forward looking assessment of own risks that will allow national competent authorities to review and evaluate the quality of the process."

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