ORSA (Own Risk Solvency Assessment)

Within Solvency II, the Own Risk and Solvency Assessment (ORSA) is considered the heart of the framework. The periodic ORSA integrates business planning, risk management and capital management activities. With the ORSA, a (re)insurer performs a forward-looking assessment of the adequacy of available capital (solvency). As an insurance company, you are required to prepare an ORSA (at least) annually.

For proper ORSA reporting, different sources and areas of expertise should be consulted (think financial, actuarial, strategic and operational risk). Obviously, the insurer's own risk profile, tolerance limits and business strategy must also be taken into account. ORSA expertise is a scarce expertise that ARC People has in-house. ARC People has supervised ORSA processes for various clients and has provided the necessary expertise to ensure proper coordination.

Want to learn more about what we can do for you in properly implementing ORSA guidelines? If so, please contact the partner responsible.