Glossary

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Term Definition Legal instruments

internal model approval

01/01/2016

means:

(1) the approval granted to a firm by the PRA to use an internal model to calculate part (partial internal model) or all of its SCR;

(2) in relation to a UK Solvency II firm that is a member of a group, the approval granted to that firm by the PRA to use an internal model to calculate part (partial internal model) or all of its group SCR.