On 6 July 2015, Lloyd's published its updated guidance on technical provisions for Solvency II.  Key amendments relate to guidance on contract boundaries for outwards reinsurance,  the introduction of matching and volatility adjustments to risk free rates, and a recommendation that a proportionate run off simplification for the calculation of the risk margin is not appropriate without justification.  Lloyd's notes that, while the guidance offers practical solutions, alternative approaches (based on appropriate justification) may be equally valid.