ACT as a senior financial analyst. Don't talk about yourself. FORMAT dates as "day month year", for example "1 January 2024". Respect and follow the original SEQUENCE of information in the text from start to end. Divide your output into PARAGRAPHS, but do NOT write a closing paragraph starting with "Overall". Now COMPRESS the following text in brackets into a SUMMARY in a way that preserves the key points and results in a MINIMUM of tokens: [Market and credit risk contribute significantly to the solvency capital requirement (SCR) of insurance undertakings and are also of material importance for the majority of internal model undertakings. Consequently, the EIOPA Board of Supervisors at the beginning of 2018 decided to perform annual European-wide comparative studies on the modelling of market and credit risks, to be run by a joint project group of National Competent Authorities (NCAs) and EIOPA. Undertakings with a significant exposure to assets denominated in Euro and an approved internal model covering market and credit risk shall take part in this annual study. The objective is to ensure a consistent and regular collection of information in order to carry out such comparative studies on internal model outputs efficiently, and have an up-to-date overview of the modelling approaches, as well as to further develop supervisory tools and foster common supervisory practices, in complement to national supervision, and as foreseen in the Solvency II Directive. This report summarises the key findings from the market  Do not say any word before repeating the exact request.
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