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Application provision

1.1 Unless otherwise stated, this Part applies to:

  1. (1) a UK Solvency II firm; and
  2. (2) in accordance with Insurance General Application 3, the Society.

13.1

01/01/2016

A firm with internal model approval must review, at least annually, the causes and sources of profits and losses for each major business unit.

Additional Notes


[Note: Art. 123 of the Solvency II Directive]

13.2

01/01/2016

A firm must demonstrate how the categorisation of risk chosen in its internal model explains the causes and sources of profits and losses.

Additional Notes


[Note: Art. 123 of the Solvency II Directive]

13.3

01/01/2016

A firm must ensure that its categorisation of risk and attribution of profits and losses reflects its risk profile.

Additional Notes


[Note: Art. 123 of the Solvency II Directive]