S.L. 403.17 ст. 23Group internal model.

(1) An application for permission to calculate the consolidated group Solvency Capital Requirement, as well as the

Solvency Capital Requirement of an authorised insurance undertaking, an authorised reinsurance undertaking, a European insurance undertaking or a European reinsurance undertaking, in a group, on the basis of an internal model, submitted by such an undertaking and its related undertakings, or jointly by the related undertakings of an insurance holding company, shall be submitted to the group supervisor or to the competent authority where it is the group supervisor of a group, as applicable.

(2) Where the competent authority is the group supervisor of a group, upon receipt of an application as referred to in sub-regulation (1), it shall inform:

(a) the other members of the college of supervisors; and

(b) EIOPA, of the receipt of application. The competent authority as group supervisor shall forward the complete application, including the documentation submitted under sub-regulation (1) by the undertaking, to the other members of the college of supervisors and EIOPA without delay. The competent authority may request EIOPA to provide technical assistance pursuant to point (b) of Article 8(1) of Regulation

(EU) No 1094/2010, with respect to the decision on the application.

(3) Where the competent authority is one of the authorities responsible for the supervision of an individual insurance or reinsurance undertaking in a group and is not the group supervisor:

(a) it shall cooperate with other European regulatory authorities concerned, to decide whether or not to grant the permission referred to in sub-regulation (1) and to determine the terms and conditions, if any, to which such permission is subject;

(b) it shall do everything within its power to reach a joint decision on the application within six months from the date of receipt of the complete application by the group supervisor; and

(c) it may, within the six-month period referred to in paragraph (b) or before a joint-decision has been reached, refer the matter to EIOPA in accordance with Article 19 of Regulation (EU) No 1094/2010, and the decision of the group supervisor which is taken in conformity with EIOPA’s decision, shall be recognised as determinative and shall be applied by the competent authority.

(4) Where EIOPA does not take a decision as referred to in the second sub-paragraph of Article 231(3) of the Solvency II Directive, in accordance with Article 19(3) of Regulation (EU) No 1094/2010, the group supervisor shall take the final decision and that decision shall be recognised as determinative and applied by the competent authority.

(5) Where the competent authority is the group supervisor of a group:

(a) if within the six-month period referred to in Article 231(3) of the Solvency II Directive or before a joint-decision has been reached, any of the European regulatory authorities concerned has referred the matter to EIOPA in accordance with Article 19 of Regulation (EU) No 1094/2010, the competent authority shall defer its decision and await any decision that EIOPA may take in accordance with Article 19(3) of that Regulation, and shall take its decision in conformity with EIOPA’s decision. That decision shall be recognised as determinative and applied by the European regulatory authorities concerned; and

(b) where EIOPA does not take a decision, as referred to in the second sub-paragraph of Article 231(3) of the Solvency II Directive, in accordance with Article 19(3) of Regulation (EU) No 1094/2010, the competent authority shall take a final decision, and that decision shall be recognised as determinative and shall be applied by the European regulatory authorities concerned.

(6) Where the competent authority is the group supervisor of a group, the authority shall:

(a) where the competent authority and the European regulatory authorities concerned have reached a joint decision, provide the applicant referred to in sub-regulation (1) with a document setting out the full reasons; and

(b) in the absence of the adoption of a joint decision within six months from the receipt of the complete application sent by it, make its own decision on the application, taking into account any views and reservations of the other European regulatory authorities concerned expressed during that six-month period and shall provide the applicant referred to in sub-regulation (1) and the other European regulatory authorities concerned, with a document setting out its fully reasoned decision which shall be recognised as determinative and shall be applied by the European regulatory authorities concerned.

(7) Where the competent authority is one of the authorities responsible for the supervision of an individual insurance or reinsurance undertaking in a group and is not the group supervisor, in the absence of the adoption of a joint decision within six months from the date of receipt of the complete application by the group, the decision of the group supervisor on the application, shall be recognised as determinative.

(8) Where the competent authority is one of the authorities responsible for the supervision of an individual insurance or reinsurance undertaking in a group and is not the group supervisor, and it considers that the risk profile of an authorised insurance undertaking or an authorised reinsurance undertaking deviates significantly from the assumptions underlying the internal model approved at group level, and that undertaking has not properly addressed the concerns of the competent authority, the competent authority may:

(a) in accordance with Article 37 of the Solvency II Directive, impose a capital add-on to the Solvency Capital Requirement of that insurance or reinsurance undertaking resulting from the application of such internal model;

(b) in exceptional circumstances, where such capital add-on imposed under paragraph (a) would not be appropriate, require the undertaking concerned to calculate its Solvency Capital Requirement on the basis of the standard formula referred to in Articles 87 to 97 of the Solvency II Directive; or

(c) where the competent authority has exercised its discretion under paragraph (b), to require an authorised insurance undertaking or an authorised reinsurance undertaking to calculate its Solvency Capital Requirement on the basis of the standard formula, impose a capital add-on to the Solvency Capital Requirement in accordance with Article 37(1)(a) and (c) of the Solvency II Directive.

(9) The competent authority shall explain any decision referred to in sub-regulation (8) to the authorised insurance undertaking or authorised reinsurance undertaking concerned and the other members of the college of supervisors.