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When calculating the best estimate, insurance and reinsurance undertakings shall take into account all of the following:
all financial guarantees and contractual options included in their insurance and reinsurance policies;
all factors which may affect the likelihood that policy holders will exercise contractual options or realise the value of financial guarantees.
Editorial Information
X1 Substituted by Corrigendum to Commission Delegated Regulation (EU) 2015/35 of 10 October 2014 supplementing Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (Official Journal of the European Union L 12 of 17 January 2015).