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European Standard of Actuarial Practice 3 (ESAP3) - ORSA

I attach the definitive version of the 2nd Exposure Draft of ESAP3 (Actuarial practice in relation to the ORSA process under Solvency II) for formal consultation.  The accompanying letter from the Chairperson of the Standards Project Team, Gábor Hanák, sets out some specific questions on which your views are sought.  Also attached is a marked-up version of the Exposure Draft showing changes against the text of the recent informal consultation.


Please distribute and discuss these documents widely within your association, involving as appropriate any actuarial standard setters and other parties in your jurisdiction for whom it may be relevant.


Comments should be submitted to Monique Schuilenburg (moniques@actuary.eu) , by e-mail only, by5 March 2017. Please use the attached comment template to submit your response.


This Exposure Draft is also being circulated widely to external stakeholders, including the European Commission, EIOPA, IAIS, IAA and various industry bodies.