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EIOPA Internal Model Guidelines

EIOPA Guidelines on the use of internal models

The EIOPA Guidelines support national supervisory authorities and insurance or reinsurance undertakings applying Solvency II internal-model requirements. They focus on models used to calculate all or part of the Solvency Capital Requirement and the governance needed to show that a model is embedded in decision-making, understood, documented, validated, and controlled. They are narrower than an enterprise-wide model inventory regime, but highly relevant to insurers' capital-model governance, validation, change, data, and use-test evidence.

Published: Last updated: Last reviewed by: Model Risk Directory editorial team
Quick answer

EIOPA's Guidelines on the use of internal models support consistent Solvency II supervision of insurers using full or partial internal models. They address application and approval, model changes, the use test, governance, documentation, data, validation, expert judgment, external models and data, group models, and supervisory communication.

Jurisdiction
European Union
MRM relevance
Model-specific prudential guidance
Effective date
Applied through Solvency II national implementation
Issuing body
European Insurance and Occupational Pensions Authority
Official reference
www.eiopa.europa.eu/publications/guidelines-use-internal-mod

What it covers

  • Pre-application and approval evidence for full and partial internal models.
  • Model-change policies, classifications, governance, and notification of major changes.
  • Use-test evidence showing the model influences risk management and decision-making.
  • Data quality, documentation, assumptions, expert judgment, and external model controls.
  • Independent validation across model components, limitations, performance, and stability.
  • Additional coordination and governance requirements for group internal models.

Adoption status

The guidelines were first published in 2015, with the current English file listed by EIOPA in 2023. They operate within Solvency II and are implemented through national competent authorities. Insurers should confirm the current local implementation and any revisions arising from the Solvency II review.

Reference only. This page explains what EIOPA Internal Model Guidelines covers; it is not a claim that Model Risk Directory or any listed vendor satisfies it. Verify alignment directly against the issuing body's own current text before relying on it.

Sources. source 1 · source 2 · source 3. Data as of 2026-07-29. See methodology.

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