Delegated Regulation (EU) 2015/35 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):Article 95 Simplified calculation of the capital requirement for permanent changes in lapse rates

Article 95 Simplified calculation of the capital requirement for permanent changes in lapse rates

Geldend

Documentgegevens:

Geldend vanaf 18-01-2015

Bronpublicatie:: 10-10-2014, PbEU 2015, L 12 (uitgifte: 17-01-2015, regelingnummer: 2015/35)
Inwerkingtreding: 18-01-2015
Bronpublicatie inwerkingtreding:: 10-10-2014, PbEU 2015, L 12 (uitgifte: 17-01-2015, regelingnummer: 2015/35)
Vakgebied(en): Financieel recht / Europees financieel recht
Financieel recht / Financieel toezicht (juridisch)
Verzekeringsrecht / Europees verzekeringsrecht
Verzekeringsrecht / Bijzondere onderwerpen

1.

Where Article 88 is complied with, insurance and reinsurance undertakings may calculate the capital requirement for the risk of a permanent increase in lapse rates as follows:

Lapse_up = 0,5 · l_up · n_up · S_up

where:

(a): l_up denotes the higher of the average lapse rate of the policies with positive surrender strains and 67 %;
(b): n_up denotes the average period in years over which the policies with a positive surrender strains run off;
(c): S_up denotes the sum of positive surrender strains.

2.

Where Article 88 is complied with, insurance and reinsurance undertakings may calculate the capital requirement for the risk of a permanent decrease in lapse rates as follows:

Lapse_down = 0,5 · l_down · n_down · S_down

where:

(a): l_down denotes the higher of the average lapse rate of the policies with negative surrender strains and 40 %;
(b): n_down denotes the average period in years over which the policies with a negative surrender strains runs off;
(c): S_down denotes the sum of negative surrender strains.

3.

The surrender strain of an insurance policy referred to in paragraphs 1 and 2 is the difference between the following:

(a): the amount currently payable by the insurance undertaking on discontinuance by the policy holder, net of any amounts recoverable from policy holders or intermediaries;
(b): the amount of technical provisions without the risk margin.