Alternative methods for valuation

Where alternative valuation methods in accordance with Article 10(5) are used, insurance and reinsurance undertakings shall:

(a) identify the assets and liabilities to which that valuation approach applies;

(b) justify the use of that valuation approach for the assets and liabilities referred to in point (a);

(c) document the assumptions underlying that valuation approach;

(d) assess the valuation uncertainty of the assets and liabilities referred to in point (a);

(e) regularly compare the adequacy of the valuation of the assets and liabilities referred to in point (a) against experience.