Calculation of the basic Solvency Capital Requirement

The Basic Solvency Capital Requirement shall include a risk module for intangible asset risk. and shall be equal to the following:

BasicSCR = sqrt ((sum_ij Corr 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 IV to Directive 2009/138/EC;

(b) SCR intangibles denotes the capital requirement for intangible asset risk referred to in Article 203.