Life & Pension Risk Nordics: Orsa risk quantification will not require internal model - Eiopa

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The requirement to conduct an Own Risk and Solvency Assessment (Orsa) will not push insurers into effectively developing an internal model to quantify their business risks, according to a risk governance expert at the European Insurance and Occupational Pensions Authority (Eiopa). Speaking in a panel discussion on the implementation of the Orsa, Yvonne Schmerfeld, a senior expert on Solvency II at Eiopa, said there was a "linkage" between a firm's internal capital model and the Orsa when it c

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