2
ORSA supervisory report
2.1
It is fundamental to the ORSA that it is forward looking. The PRA expects firms to find ways to estimate their future solvency position while assessing their current risk profile and how it is likely to change with the proposed business strategy. The ORSA should contemplate those risks to which the firm may become exposed in the future.
- 25/11/2016
2.2
The PRA expects all insurance firms to consider stress testing as a tool for assessing the risks to which they are exposed and to assist in quantifying their potential impact.
- 25/11/2016
2.3
It is important that the ORSA supervisory report has an identifiable and analytical framework. The PRA finds that good ORSA reports often:
- include a clear summary;
- highlight the key outcomes of the process;
- are not too long; and
- clearly signpost supporting documentation.
- 25/11/2016