BRRD

Bank Recovery and Resolution Directive

CCP

Central counterparty

CSD

Central securities depository

ESRB

European Systemic Risk Board

EU

European Union

IAIG

Internationally Active Insurance Group

IAIS

International Association of Insurance Supervision

ICP12

Insurance Core Principle No 12

FSB

Financial Stability Board

G-SIFI

Global Systemically Important Financial Institution

G-SII

Global Systemically Important Insurer

HLA

Higher Loss Absorbency requirement

IGS

Insurance Guarantee Scheme

IRSG

Insurance and Reinsurance Stakeholders Group

MCR

Minimum Capital Requirement

NCA

National Competent Authority

NCWO

No Creditor Worse Off

NSA

National Supervisory Authority

ORSA

Own Risk and Solvency Assessment

SCR

Solvency Capital Requirement

SRP

Supervisory Review Process