1. The solvency and financial condition report shall include qualitative and quantitative information regarding the risk profile of the insurance or reinsurance undertaking, in accordance with paragraphs 2 to 7, separately for the following categories of risk:
(a) underwriting risk;
(b) market risk;
(c) credit risk;
(d) liquidity risk;
(e) operational risk;
(f) other material risks.
2. The solvency and financial condition report shall include the following information regarding the risk exposure of the insurance or reinsurance undertaking, including the exposure arising from off-balance sheet positions and the transfer of risk to special purpose vehicles:
(a) a description of the measures used to assess these risks within that undertaking, including any material changes over the reporting period;
(b) a description of the material risks that that undertaking is exposed to, including any material changes over the reporting period.
(c) a description of how assets have been invested in acc
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