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TITLE I VALUATION AND RISK-BASED CAPTAL REQUIREMENTS (PILLAR I), ENHANCED GOVERNANCE (PILLARĀ II) AND INCREASED TRANPARENCY (PILLAR III)

CHAPTER V SOLVENCY CAPITAL REQUIREMENT STANDARD FORMULA

SECTION 2 Non-life underwriting risk module

Article 119Non-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:

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.