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 114 Non-life underwriting risk module
Geldend
1.
The non-life underwriting risk module shall consist of all of the following sub-modules:
- (a)
the non-life premium and reserve risk sub-module referred to in point (a) of the third subparagraph of Article 105(2) of Directive 2009/138/EC;
- (b)
the non-life catastrophe risk sub-module referred to in point (b) of the third subparagraph of Article 105(2) of Directive 2009/138/EC;
- (c)
the non-life lapse risk sub-module.
2.
The capital requirement for non-life underwriting risk shall be equal to the following:
where:
- (a)
the sum covers all possible combinations (i,j) of the sub-modules set out in paragraph 1;
- (b)
CorrNL(i,j) denotes the correlation parameter for non-life underwriting risk for sub-modules i and j;
- (c)
SCRi and SCRj denote the capital requirements for risk sub-module i and j respectively.
3.
The correlation parameter CorrNL(i,j) referred to in paragraph 2 denotes the item set out in row i and in column j of the following correlation matrix:
