Abstract
The third and final pillar of Solvency II deals with reporting requirements. As explained briefly in the introduction section, insurance undertakings are required to submit information covered under Pillar Three to the authorities in order to qualify for supervision. This information is comprised of either qualitative and quantitative elements or any appropriate combination thereof (Directive 2009/138/EC, art. 35).
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Notes
- 1.
The report also includes the outcome of any sensitivity analysis as explained in Sect. 3.1.3.
- 2.
- 3.
Although it is required to compare a partial or a full internal model with the standard formula in the context of ORSA, it is not obligatory to provide this information to the public.
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Heep-Altiner, M. et al. (2018). Application of the Data Model: Pillar Three. In: Heep-Altiner, M., Mullins, M., Rohlfs, T. (eds) Solvency II in the Insurance Industry. Contributions to Management Science. Springer, Cham. https://doi.org/10.1007/978-3-319-77060-4_4
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