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Article 119 - Non-life catastrophe risk sub-module

Comparing 08/07/2019 → 01/01/2020: 0 added, 0 removed, 1 changed Close comparison

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:

$$\mathrm{SCR}_{\mathrm{nl\mathrm{CAT}}}$$\mathrm{SCR}_{\mathrm{nlCAT}} = \sqrt{(\mathrm{SCR}_{\mathrm{nat\mathrm{CAT}}}\sqrt{(\mathrm{SCR}_{\mathrm{natCAT}} + \mathrm{SCR}_{\mathrm{nproperty}})^2\mathrm{SCR}_{\mathrm{npproperty}})^2 + \mathrm{SCR}_{\mathrm{mm\mathrm{CAT}}}^2\mathrm{SCR}_{\mathrm{mmCAT}}^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Official text · consolidated version 01/01/2020 (no longer in force) Open full page ↗
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