ORSA definition

ORSA means a confidential internal assessment,

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ORSA means a document covering company’s own risk and solvency assessment that is produced once in a calendar year or more frequently, if required (ORSA produced for the Mandatum Group, the "Group ORSA").

ORSA means Own Risk Solvency Assessment.

Examples of ORSA in a sentence

• Where no such worldwide group ORSA is applied to a Home Party insurance or reinsurance group, according to applicable law, the relevant U.S. State or EU Member State’s supervisory authority provides equivalent documentation which is prepared consistent with applicable law of the Home supervisory authority as referred to in subparagraphs (i) and (ii) above.

• This to encompass: • Developing overall ORSA policy and framework.

• Where no such worldwide group ORSA is applied to a Home Party insurance or reinsurance group, according to applicable law, the relevant U.S. State or UK supervisory authority provides equivalent documentation which is prepared consistent with applicable law of the Home supervisory authority as referred to in subparagraphs (i) and (ii) above.

• The results of the ORSA are also reported to the supervisory authority.

• ORSA requires that insurers maintain a risk management framework and conduct an internal own risk and solvency assessment of the insurer’s material risks in normal and stressed environments.

More Definitions of ORSA

ORSA means Own Risk and Solvency Assessment and aims to assess the overall solvency needs of an insurance company.

ORSA means the own risk and solvency assessment required to be carried out under rule 10;

ORSA means the Own Risk & Solvency Assessment process;

ORSA shall have the meaning set forth in Section 5.22(b).

ORSA means the Own Risk and Solvency Assessment as provided for in Regulation 47 of the 2015 Regulations.

ORSA means Own Risk and Solvency Assessment which is a confidential internal assessment, appropriate to the nature, scale and complexity of an insurer or insurance group, conducted by that insurer or insurance group of the material and relevant risks associated with the insurer or insurer group’s current business plan, and the sufficiency of capital resources to support those risks.

ORSA means the Own Risk and Solvency Assessment;