ORSA (Own Risk and Solvency Assessment)

Roles that need it

• Actuarial Analyst
• Risk Advisory Consultant
• Business Analyst (Insurance)
• Life & Pensions Actuarial Analyst

Skills it belongs to

• Insurance regulation (Solvency II, IDD, NAIC, IRDAI)
• Scenario and sensitivity analysis
• Risk judgment and escalation instinct

Related concepts

• Solvency IISolvency II is the EU prudential regime for insurers and reinsurers, applied since 1 January 2016. It has three pillars: market-consistent valuation and risk-based capital (SCR and MCR), governance including the ORSA, and supervisory reporting and public disclosure.
• Solvency Capital Requirement (SCR)The Solvency Capital Requirement is the capital an EU insurer must hold under Solvency II to absorb a 1-in-200-year loss over one year (99.5 percent value at risk). It is calculated with the standard formula or an approved internal model. The lower Minimum Capital Requirement (MCR) triggers the strongest supervisory action.

Sources

• Directive 2009/138/EC (Solvency II), EUR-Lex (external site) accessed 31 Oct 2026

Updated 31 Oct 2026.