What the buyer wrote
Flood Re is applying to the PRA to use a partial internal model (PIM) to set regulatory capital under Solvency II. Flood Re is exposed to risk from a single peril (flood) within a single territory (UK). The planned scope for the PIM is as follows. Insurance risk (premium, reserve and catastrophe risk), forward looking credit risk (in relation to expected RI recoveries) and operational risk will each be calculated using the Flood Re internal model. Market risk and credit risk relating to on balance sheet recoverables and cash at bank will be assessed using the Standard Formula. The components of the standard formula and internal model will be drawn together using the default "integration meth…
Details
- What the buyer calls it
- Flood Re - Independent Model Validation Delivery
- How they are buying
- Advertised, open to anyoneAny supplier could bid without being invited first.
- Type
- services
- Suitable for small firms
- The buyer says yes. What that is worth
- Work starts
- 1 Nov 2016
- Work ends
- 30 Sep 2019
- Kind of work
- Accountancy, audit and financial advice
Who the buyer named
The buyer published a contact address on this notice.