Open on EUR-Lex ↗

Recital 131

Recital 131

(131)Groups may apply for the use of two types of internal models to calculate their consolidated group Solvency Capital Requirement. Where an internal model is used only for the calculation of the consolidated group Solvency Capital Requirement, and is not used to calculate the Solvency Capital Requirement of a related insurance or reinsurance undertaking in the group, then Article 230 of Directive 2009/138/EC should apply. In this context, it is necessary to ensure that the approval of an internal model used to calculate only the consolidated group Solvency Capital Requirement is granted by the group supervisor in a manner consistent with the provisions set out in that Directive on the approval procedure of internal models used at individual level, including the implementing act referred to in Article 114(2) of that Directive. In order to foster cooperation within the college of supervisors, it is necessary to specify how the group supervisor should involve other supervisory authorities before making his decision on the application.

Official text · the act as publishedFrom the act as published (consolidated texts do not carry recitals or the preamble). Open full page ↗
4 queries · page built in 15 msInventory f82bbfa3