On 13 May 2015, the CBI published a copy of a 'Dear CEO' letter to (re)insurers outlining general feedback on FLAOR reports submitted in 2014. The feedback notes that: (a) where group FLAOR is used for a local undertaking, it must adequately capture risks arising from the local undertaking; (b) significant risks such as pension risk, reputational risk, group risk and operations risk, among others, were not always considered in the assessment; and (c) the significance of deviations of the risk profile from the assumptions underlying the SCR was not appropriately assessed and should be fully discussed in 2015 FLAOR reports. The feedback letter emphasises areas where undertakings did not fully comply with the CBI's 'Guidelines for Preparing for Solvency II – FLAOR' and states its expectation that (re)insurers consider the feedback and guidelines in preparing 2015 FLAOR reports.