Einde inhoudsopgave
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 127 Sub-module for catastrophe risk of non-proportional property reinsurance
Geldend
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 capital requirement for catastrophe risk of non-proportional property reinsurance shall be equal to the loss in basic own funds of insurance and reinsurance undertakings that would result from an instantaneous loss in relation to each reinsurance contract that covers reinsurance obligations of line of business 28 as set out in Annex I other than non-proportional reinsurance obligations relating to insurance obligations included in lines of business 9 and 21 set out in Annex I.
2.
The amount of the instantaneous loss, without deduction of the amounts recoverable from reinsurance contracts and special purpose vehicles, referred to in paragraph 1 shall be equal to the following:
Lnpproperty = 2,5 · (0,5 · DIVnpproperty + 0,5) · Pnpproperty
where:
- (a)
DIVnpproperty is calculated in accordance with Annex III, but based on the premiums earned by the insurance and reinsurance undertaking in line of business 28 as set out in Annex I, other than non-proportional reinsurance obligations relating to insurance obligations included in lines of business 9 and 21 as set out in Annex I;
- (b)
Pproperty is an estimate of the premiums to be earned by the insurance or reinsurance undertaking during the following 12 months for each contract that covers the reinsurance obligations of line of business 28 as set out in Annex I other than non-proportional reinsurance obligations relating to insurance obligations included in lines of business 9 and 21 as set out in Annex I: for this purpose premiums shall be gross, without deduction of premiums for reinsurance contracts.