(36)All insurance and reinsurance undertakings should have, as an integrated part of their business strategy, a regular practice of assessing their overall solvency needs with a view to their specific risk profile (own-risk and solvency assessment). That assessment neither requires the development of an internal model nor serves to calculate a capital requirement different from the Solvency Capital Requirement or the Minimum Capital Requirement. The results of each assessment should be reported to the supervisory authority as part of the information to be provided for supervisory purposes.
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New version applies from 23/05/2014 — introduced by Directive 2014/51/EU.
239 provisions change.
Later versions: 31/03/2015, 12/01/2017, 09/07/2018, 13/01/2019, 30/06/2021, 19/10/2021, 09/01/2024, 17/01/2025, 30/01/2027.
Recital 36 changes in this version: compare with the current text.