CRO Forum study released
Industry body the Chief Risk Officer (CRO) Forum, which consists of the chief risk officers of Europe's leading insurers, is advancing the case for the use of proprietary internal models under Solvency II with the publication of a new in-depth report.
Principles for Regulatory Admissibility of Internal Models was published and presented to national regulators in June.
As discussions gather pace at a European level on the Solvency II prudential regime for insurers, the CRO Forum says it is strongly in favour of admissibility of internal models because they reflect the true risk profile and solvency position of companies, and provide an incentive for improved risk measurement and management.
"We are very strong advocates of being able to use our
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