Close menu

Application provision

17.1 This Chapter applies to the Society in relation to the use of an internal model for the purpose of Solvency Capital Requirement – General Provisions 3.1.

17.1

01/01/2016

This Chapter applies to the Society in relation to the use of an internal model for the purpose of Solvency Capital Requirement – General Provisions 3.1.

17.2

01/01/2016

The internal model must:

  1. (1) separately identify and aggregate any diminution in basic own funds arising as a result of the application of risk scenarios taken into account in the internal model to:
    1. (a) the insurance business of members; and
    2. (b) the central assets and central liabilities; and
  2. (2) where the risk scenarios taken into account in the internal model result in the own funds attributable to a particular member being exhausted, identify the consequent impact upon own funds attributable to the Society.