On 5 October, EIOPA launched the second phase of the study on Diversification in Internal Models.
EIOPA’s stated objectives of the exercise are:
- to gain an overview of the current approaches in the market and, on best effort basis, analyse and compare the levels of diversification,
- to facilitate a better understanding of modelling dependencies, aggregation and resulting diversification benefits,
- to enhance quality and convergence of supervision on diversification in internal models.
Timeline:
10 January 2022: Deadline for insurance undertakings to submit results to their group national supervisory authority 22 January 2022: Deadline for national supervisory authorities to report to EIOPA
Further information and all the related documents can be found here.
The secretariat of Insurance Europe previously attended a call organised by EIOPA’s Project Group on Diversification in Internal Models where additional insights about the data request of this second phase of the study were discussed. The secretariat’s update from this meeting can be found here.
The first phase of the study on Diversification in Internal Models was conducted between 1 October 2020 and 22 January 2021. Further information on the first phase can be found here.