Minimum Capital Requirement

1. The Minimum Capital Requirement shall be equal to the following:

MCR= mac(MCR combines; AMCR)

where:

(a) MCR combined denotes the combined Minimum Capital Requirement;

(b) AMCR denotes the absolute floor referred to in Article 129(1)(d) of Directive 2009/138/EC and in Article 253 of this Regulation.

2. The combined Minimum Capital Requirement shall be equal to the following:

MCR combined= min(max(MCR linear; 0,25*SCR); 0,45*SCR)

where:

(a) MCR linear denotes the linear Minimum Capital Requirement, calculated in accordance with Articles 249 to 251;

(b) SCR denotes the Solvency Capital Requirement, calculated in accordance with Chapter V or in accordance with Chapter VI where approval for the use of full or partial internal model has been granted.