Munich Re receives approval for Solvency II internal model
Saturday, 11 28 2015, Category: Insurance and Reinsurance, Country: Europe
Reinsurer Munich Re has received approval for its Solvency II internal model.
The firm said in a statement that the German regulator Federal Financial Supervisory Authority (BaFin) had provided approval to use a full internal model from 2016 to calculate regulatory solvency capital requirements under the new Solvency II regulatory regime for the consolidated group and for select solo undertakings.
Munich Re said it has been drawing up and developing its own full internal model for around ten years.
Source: Intelligent Insurer