EIOPA recently published a paper describing the assumptions underlying the standard formula used for calculation of the solvency capital requirement (SCR) under Solvency II. In the paper, EIOPA highlights that, from 2015, (re)insurers and groups will be required to determine the extent to which their risk profile deviates from the assumptions underlying the standard formula. If it does so deviate, amongst other matters, the (re)insurer will need to provide details in this regard to its supervisor – indicating why the deviation is significant or otherwise (and, if it is, the (re)insurer should consider how this will be addressed).