OREANDA-NEWS. The Talanx Group has received approval from the Federal Financial Supervisory Authority (BaFin) for its internal capital model in compliance with Solvency II. "Unlike the standard model, this internal model allows the Talanx Group to map its risk structure in the best possible way for a highly diversified Group offering reinsurance and primary insurance," comments Dr Immo Querner, Chief Financial Officer at Talanx AG. The new Solvency II supervisory regime will become effective on 1 January 2016.
The Talanx Group has used its internal model in risk management and enterprise management with real success for some years now. The approval confirms that the methods and procedures underlying the model conform with Solvency II. Talanx began its work on the model back in 2007 and has since then been cooperating closely with BaFin.
Under Solvency II the regulatory solvency ratio was 184% and economic solvency ratio amounted to 271% (reporting date 31 December 2014). Talanx therefore enjoys a comfortable capital position