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art_125__text_1

Solvency II
Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (recast) (Text with EEA relevance) · European Union

Insurance and reinsurance undertakings shall document the design and operational details of their internal model. The documentation shall demonstrate compliance with Articles 120 to 124. The documentation shall provide a detailed outline of the theory, assumptions, and mathematical and empirical bases underlying the internal model. The documentation shall indicate any circumstances under which the internal model does not work effectively. Insurance and reinsurance undertakings shall document all major changes to their internal model, as set out in Article 115.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-09 · Text as adopted (Official Journal); later amendments are not incorporated in this text.