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):artikel 117

Article 117 Standard deviation for non-life premium and reserve risk

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.

The standard deviation for non-life premium and reserve risk shall be equal to the following:

VO15-35_117-01

where:

(a): V_nl denotes the volume measure for non-life premium and reserve risk;
(b): the sum covers all possible combinations (s,t) of the segments set out in Annex II;
(c): CorrS_(s,t) denotes the correlation parameter for non-life premium and reserve risk for segment s and segment t set out in Annex IV;
(d): σ_s and σ_t denote standard deviations for non-life premium and reserve risk of segments s and t respectively;
(e): V_s and V_t denote volume measures for premium and reserve risk of segments s and t, referred to in Article 116, respectively.

2.

For all segments set out in Annex II, the standard deviation for non-life premium and reserve risk of a particular segment s shall be equal to the following:

VO15-35_117-02

where:

(a): σ_(prem,s) denotes the standard deviation for non-life premium risk of segment s determined in accordance with paragraph 3;
(b): σ_(res,s) denotes the standard deviation for non-life reserve risk of segment s as set out in Annex II;
(c): V_(prem,s) denotes the volume measure for premium risk of segment s referred to in Article 116;
(d): V_(res,s) denotes the volume measure for reserve risk of segment s referred to in Article 116.

3.

For all segments set out in Annex II, the standard deviation for non-life premium risk of a particular segment shall be equal to the product of the standard deviation for non-life gross premium risk of the segment set out in Annex II and the adjustment factor for non-proportional reinsurance. For segments 1, 4 and 5 set out in Annex II the adjustment factor for non-proportional reinsurance shall be equal to 80 %. For all other segments set out in Annex the adjustment factor for non-proportional reinsurance shall be equal to 100 %.