Open on EUR-Lex ↗

Article 119 - Non-life catastrophe risk sub-module

Article 119
Non-life catastrophe risk sub-module

1.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-life catastrophe risk.

2.The capital requirement for the non-life catastrophe underwriting risk module shall be equal to the following:

\mathrm{SCR}_{\mathrm{nl\mathrm{CAT}}} = \sqrt{(\mathrm{SCR}_{\mathrm{nat\mathrm{CAT}}} + \mathrm{SCR}_{\mathrm{npproperty}})^2 + \mathrm{SCR}_{\mathrm{mm\mathrm{CAT}}}^2 + \mathrm{SCR}_{\mathrm{CATother}}^2}

where:

(a)

SCRnatCAT denotes the capital requirement for natural catastrophe risk;

(b)

SCRnpproperty denotes the capital requirement for the catastrophe risk of non-proportional property reinsurance;

(c)

SCRmmCAT denotes the capital requirement for man-made catastrophe risk;

(d)

SCRCATother denotes the capital requirement for other non-life catastrophe risk.

Official text · consolidated version 14/11/2024 (in force) Open full page ↗
4 queries · page built in 16 msInventory f82bbfa3