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The volume measure for non-life premium and reserve risk shall be equal to the sum of the volume measures for premium and reserve risk of the segments set out in Annex II. For all segments set out in Annex II, the volume measure of a particular segment s shall be equal to the following: V s= (V...

The standard deviation for non-life premium and reserve risk shall be equal to the following: sigma_nl = 1/V_nl * sqrt (sum_s,t CorrS_(s,t) * sigma_s * V_s * sigma_t * V_t)where: (a) V nl denotes the volume measure for non-life premium and reserve risk; (b) the sum covers all possible combinations...

The capital requirement for the non-life lapse risk sub-module referred to in 114(1)(c) shall be equal to the loss in basic own funds of the insurance or reinsurance undertaking resulting from a combination of the following instantaneous events: (a) the discontinuance of 40 % of the insurance...

The non-life catastrophe risk sub-module shall consist of all of the following sub-modules: (a) the natural catastrophe risk sub-module; (b) the sub-module for catastrophe risk of non-proportional property reinsurance; (c) the man-made catastrophe risk sub-module; (d) the sub-module for other non...

The natural catastrophe risk sub-module shall consist of all of the following sub-modules: (a) the windstorm risk sub-module; (b) the earthquake risk sub-module; (c) the flood risk sub-module; (d) the hail risk sub-module; (e) the subsidence risk sub-module. The capital requirement for natural...

The capital requirement for windstorm risk shall be equal to the following: SCR_windstorm = sqrt ((Sum_r,s CorrWS_(r,s) * SCR_(windstorm,r) * SCR_(windstorm,s) + SCR^2_(windstorm,other)))where:(a) the sum includes all possible combinations (r,s) of the regions set out in Annex V; (b) CorrWS (r,s)...

The capital requirement for earthquake risk shall be equal to the following: SCR_earthquake = sqrt ((sum_(r,s) CorrEQ_(r,s) * SCR_(earthquake,r) * SCR_(earthquake,s)) + SCR^2_(earthquake,other))where:(a) the sum includes all possible combinations (r,s) of the regions set out in Annex VI; (b)...

This Regulation shall enter into force on the day following that of its publication in the Official Journal of the European Union. This Regulation shall be binding in its entirety and directly applicable in all Member States.

The criteria which shall be taken into account in order to assess whether the prudential regime in a third country for the supervision of groups is equivalent to that laid down in Title III of Directive 2009/138/EC shall be the following: (a) whether the supervisory authorities of the third...