Ms Sylvia Cronin:

We want companies to assess their risks and ensure they have examined and identified the risks, and we want them to confirm to us that they have identified them. With Solvency II, every company must hold a mirror up to itself through an annual report called the own risk and solvency assessment. Companies must identify their risks and indicate to us whether they have adequate capital reserves in place and confirm exactly what they will do about it if they have not.