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RSS1. A reduction of the reconciliation reserve referred to in Article 70(1)(e) shall be required where own-fund items within a ring-fenced fund have a reduced capacity to fully absorb losses on a going-concern basis due to their lack of transferability within the insurance or reinsurance undertaking...
1. For the purposes of calculating the reconciliation reserve, insurance and reinsurance undertakings shall reduce the excess of assets over liabilities referred to in Article 70 by comparing the following amounts: (a) the restricted own-fund items within the ring-fenced fund or matching...
1. As far as compliance with the Solvency Capital Requirement is concerned, the eligible amounts of Tier 2 and Tier 3 items shall be subject to all of the following quantitative limits: (a) the eligible amount of Tier 1 items shall be at least one half of the Solvency Capital Requirement; (b) the...
1. Where the calculation of a module or sub-module of the Basic Solvency Capital Requirement is based on the impact of a scenario on the basic own funds of insurance and reinsurance undertakings, all of the following assumptions shall be made in that calculation: (a) the scenario does not change...
The conditions for a categorisation of regional governments and local authorities shall be that there is no difference in risk between exposures to these and exposures to the central government, because of the specific revenue-raising power of the former, and specific institutional arrangements...
The Basic Solvency Capital Requirement shall include a risk module for intangible asset risk. and shall be equal to the following: BasicSCR = sqrt ((sum_ijCorr ij · SCR i · SCR j)+ SCR intangibles)where: (a) the summation, Corr i,j , SCR i and SCR j are specified as set out in point (1) of Annex...
Captive insurance undertakings and captive reinsurance undertakings as defined in points (2) and (5) of Article 13 of Directive 2009/138/EC may use the simplified calculations set out in Articles 90, 103, 105 and 106 of this Regulation where Article 88 of this Regulation is complied with and all...
Where 88 is complied with, insurance and reinsurance undertakings may calculate the capital requirement for life disability-morbidity risk as follows: SCR disability-morbidity = system of ( 0,35 · CAR 1 · d 1; + 0,35 * 1,1 ^ ((n-3)/2) * (n-1) * CAR2* d2; + 0,2 * 1,1 ^ ((n-1)/2) *t *n* BEdis )where...
Where Article 88 is complied with, insurance and reinsurance undertakings may calculate the capital requirement for life-expense risk as follows: SCR_expense + 0,1 * EI * n + EI * ((1/(i+0,01)^n - 1) - 1/i (( 1+ i)^n -1 ))where: (a) EI denotes the amount of expenses incurred in servicing life...
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_upwhere:(a) l up denotes the higher of the average lapse rate of the policies with...