Guideline 46 - Tasks of the actuarial function

1.93. The undertaking should take appropriate measures to address the potential conflicts of interests, if the undertaking decides to add additional tasks or activities to the tasks and activities of the actuarial function.

1.94. The participating insurance or reinsurance undertaking, the insurance holding company or the mixed financial holding company should require that the actuarial function gives an opinion on the reinsurance policy and the reinsurance program for the group as a whole.

Guideline 47 - Coordination of the calculation of technical provisions

1.95. The undertaking should require the actuarial function to identify any inconsistency with the requirements set out in Articles 76 to Article 83 of Solvency II for the calculation of technical provisions and propose corrections as appropriate.

1.96. The undertaking should require the actuarial function to explain any material effect of changes in data, methodologies or assumptions between valuation dates on the amount of technical provisions.

Guideline 48 - Data quality

1.97. The undertaking should require the actuarial function to assess the consistency of the internal and external data used in the calculation of technical provisions against the data quality standards as set in Solvency II. Where relevant, the actuarial function should provide recommendations on internal procedures to improve data quality so as to ensure that the undertaking is in a position to comply with the Solvency II framework.