This autumn, we are launching a new application for Solvency II insurers in My DNB: Dataloop. The application offers you an improved user experience to interact with us, and it enables us to assess the data quality of reports more efficiently.Read more
Solvency II: Pillar II Risk Management
Published: 23 July 2012
Pillar 2 of Solvency II sets out the qualitative requirements that insurers must meet at both individual and group level.
Aiming to safeguard adequate risk management and governance, the Pillar 2 provisions are related mainly to the system of governance, including the own risk and solvency assessment (ORSA). The requirements are closely aligned with the provisions of the Financial Supervision Act (Wft) governing sound and ethical operational management. They cover insurers’ organisations and their operational management in general, the expertise and trustworthiness of their directors and key officers, their risk management, internal control, key functions and outsourcing. ORSA forms part of the risk management system and focusses on insurers’ own assessment of the risks they run and their associated capital needs.
Summary of Pillar 2
- Pillar 2: General and governance system
- Pillar 2 – ORSA
On 27 September 2013 the European Insurance and Occupational Pensions Authority (EIOPA) adopted and issued Preparatory Guidelines for Solvency II, including Guidelines on the System of Governance and ORSA. DNB applies these Guidelines in its supervision of insurers in preparation for Solvency II.
DNB has conducted a series of examinations to assess financial institutions’ compliance with sanctions regulations and, more specifically, whether their compliance operations are fit for purpose. We are happy to share the results of these investigations.Read more
Did you know that you can track the status of your assessment application in My DNB? As of 11 May 2023 you can see the status of your assessment application in My DNB – Supervisory Applications Service.Read more
We hereby inform you that DNB has experienced a delay in implementing the new portal to be used for supervisory surveys. Unfortunately, this affects the date that the integrity supervisory survey for your institution will become available in MijnDNB.Read more