Where Article 88 is complied with, insurance and reinsurance undertakings may calculate the capital requirement for life longevity risk calculated as follows:
where, with respect to the policies referred to in Article 138(2):
q denotes the expected average mortality rate of the insured persons during the following 12 months weighted by the sum insured;
n denotes the modified duration in years of the payments to beneficiaries included in the best estimate;
BElong denotes the best estimate of the obligations subject to longevity risk.
Editorial Information
X1 Substituted by Corrigendum to Commission Delegated Regulation (EU) 2015/35 of 10 October 2014 supplementing Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (Official Journal of the European Union L 12 of 17 January 2015).