Definition:Broken links

Definition:Solvency capital requirement (SCR) Definition:Minimum capital requirement (MCR) Definition:Own funds Definition:Eligible own funds (EOF) Definition:Basic own funds Definition:Ancillary own funds Definition:Tier 1 capital Definition:Tier 2 capital Definition:Tier 3 capital Definition:Technical provisions Definition:Best estimate liability (BEL) Definition:Market value margin (MVM) Definition:Risk margin Definition:Risk-free interest rate term structure Definition:Volatility adjustment (VA) Definition:Matching adjustment (MA) Definition:Transitional measure on technical provisions (TMTP) Definition:Transitional measure on risk-free interest rates Definition:Standard formula Definition:Internal model Definition:Partial internal model Definition:Undertaking-specific parameter (USP) Definition:Own risk and solvency assessment (ORSA) Definition:Pillar 1 Definition:Pillar 2 Definition:Pillar 3 Definition:Solvency and financial condition report (SFCR) Definition:Regular supervisory report (RSR) Definition:Quantitative reporting template (QRT) Definition:Market risk module Definition:Counterparty default risk module Definition:Life underwriting risk module Definition:Non-life underwriting risk module Definition:Health underwriting risk module Definition:Operational risk module Definition:Interest rate risk sub-module Definition:Equity risk sub-module Definition:Property risk sub-module Definition:Spread risk sub-module Definition:Currency risk sub-module Definition:Concentration risk sub-module Definition:Premium and reserve risk sub-module Definition:Lapse risk sub-module Definition:Catastrophe risk sub-module Definition:Mortality risk sub-module Definition:Longevity risk sub-module Definition:Morbidity risk sub-module Definition:Revision risk sub-module Definition:Expense risk sub-module Definition:Loss-absorbing capacity of technical provisions (LACTP) Definition:Loss-absorbing capacity of deferred taxes (LACDT) Definition:Symmetric adjustment to equity risk Definition:Look-through approach Definition:Prudent person principle Definition:Contract boundary Definition:Solvency II balance sheet Definition:Economic balance sheet Definition:Valuation hierarchy Definition:Mark-to-market valuation Definition:Mark-to-model valuation Definition:Correlation matrix Definition:Diversification benefit Definition:Risk mitigation technique Definition:Special purpose vehicle (SPV) Definition:Insurance-linked security (ILS) Definition:Fit and proper requirements Definition:System of governance Definition:Key function holder Definition:Actuarial function Definition:Risk management function Definition:Compliance function Definition:Internal audit function Definition:Outsourcing policy Definition:Group solvency Definition:Group supervisor Definition:College of supervisors Definition:Accounting consolidation method Definition:Deduction and aggregation method Definition:Intra-group transaction Definition:Risk concentration Definition:Supervisory ladder of intervention Definition:Capital add-on Definition:Undertaking Definition:Insurance undertaking Definition:Reinsurance undertaking Definition:Captive insurance undertaking Definition:Captive reinsurance undertaking Definition:Third-country equivalence Definition:Delegated regulation Definition:Implementing technical standard (ITS) Definition:Regulatory technical standard (RTS) Definition:European Insurance and Occupational Pensions Authority (EIOPA) Definition:National competent authority (NCA) Definition:Freedom of services Definition:Freedom of establishment Definition:Passporting Definition:Home state supervision Definition:Host state Definition:Solvency II directive Definition:Omnibus II directive Definition:Line of business (LoB) Definition:Homogeneous risk group (HRG) Definition:Unbundling of insurance contracts Definition:Profit sharing (discretionary benefits) Definition:Future discretionary benefit (FDB) Definition:Surplus funds Definition:Ring-fenced fund Definition:Subordinated liability Definition:Value at risk (VaR) Definition:Confidence level Definition:One-year time horizon Definition:Ultimate time horizon Definition:Probability of default Definition:Loss given default (LGD) Definition:Proportionality principle Definition:Materiality threshold Definition:Expert judgment Definition:Data quality Definition:Validation of internal model Definition:Use test Definition:Statistical quality standard Definition:Calibration standard Definition:Profit and loss attribution Definition:Pre-application process for internal models Definition:Model change policy Definition:Scenario analysis Definition:Stress test Definition:Reverse stress test Definition:Sensitivity analysis Definition:Reinsurance recoverables Definition:Adjustment for expected losses due to counterparty default Definition:Cash flow projection Definition:Discounting of technical provisions Definition:Expense allocation Definition:Going concern assumption Definition:Winding-up assumption Definition:Solvency ratio (solvency coverage ratio) Definition:Eligible own funds to meet SCR Definition:Eligible own funds to meet MCR Definition:MCR linear formula Definition:MCR combined calculation Definition:Absolute floor of the MCR Definition:Recovery plan Definition:Finance scheme Definition:Participations Definition:Related undertaking Definition:Strategic equity investment Definition:Duration-based equity risk sub-module Definition:Transitional equity risk sub-module Definition:Credit quality step (CQS) Definition:External credit assessment institution (ECAI) Definition:Liquidity premium Definition:Smith-Wilson extrapolation method Definition:Last liquid point (LLP) Definition:Ultimate forward rate (UFR) Definition:Convergence period Definition:Fundamental spread Definition:Assigned asset portfolio Definition:Expected profit included in future premiums (EPIFP)