As a Level 3 committee under the Lamfalussy process, CEIOPS is required to issue standards and guidelines in order to enhance facilitation between national supervisors. Although Solvency II Level 2 measures are yet to be finalised, CEIOPS has published this draft guidance on the pre-application process for the approval of firms’ internal models.

For further information: CP80: draft Level 3 guidance on Solvency II: pre-application process for internal models