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Article 127 contains the catastrophe risk charge calculations for non-proportional property reinsurance wherein geographical diversification ("DIV") has been set out in Annex III. However point (5) of Annex III states that the factor for geographical diversification shall be equal to 1 (i.e. DIV...

We refer to a scenario where a (re)insurance undertaking holds a Note which is fully and irrevocably guaranteed by a specific credit insurance policy issued by a credit insurer which has a rating published by a nominated ECAI, credit step 2. The credit insurance policy satisfies the requirements...

According to Article 142 of the delegated act 2015_35 the capital requirement for the lapse risk refer to all options in pragraphs 4 & 5. Could you please confirm that the option of annuity payments offered at maturity instead of lump sum should be considered in the options of paragraph 4 b for...

According to Article 142 of the delegated act 2015_35 the capital requirement for the lapse risk refers to all options in paragraphs 4 & 5. Could you please confirm that the option of annuity payments offered in life insurance policy at maturity instead of lump sum should be considered in the...

Question 1:How should we interpret article 166 and 167 in the DR and 1.14 in guideline 4? Is it enough to recalculate the value of the bond based on e.g. five different maturities, say 2Y, 5Y, 10Y, 20Y and 30Y, where the key rate sensitivities are divided into these buckets, or is it necessary to...

According to Delegated Acts Article 180 (2)(b) exposures to Member States’ central government funded in the domestic currency of that central government are assigend a risk factor stress_i of 0% for Spread Risk.What is the exact definition of ‘Member State’ in this context?- All countries that are...

Article 191 para 2 referes to small or medium sized enterprises. What is the definiton of medium sized enterprise?

In Romania, the Civil Code (CC) defines and regulates insurance contract. CC provides an article which give the right to insurers to ‎cancel unilateral the contracts (without any reason) as long as they give a notice period of 20 days."CC - CHAPTER XVI - Insurance contractUnilateral termination of...

As it stands, article 18-5 of the Delegated acts is subject to different interpretations, because of the somewhat awkward structure of its long sentence.The following reordering of some elements of the sentence would greatly improve the understanding. Could you confirm it should be read according...