Division 2: Calculation of the non-life underwriting risk module - Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (recast) (Text with EEA relevance)

The non-life underwriting risk module set out in Article 105(2) shall be equal to the following:

{SCR}_{non-life} = \sqrt{\sum_{i,j} {Corr}_{i,j} \times {SCR}_{i} \times {SCR}_{j}}

where SCR_i denotes the sub-module i and SCR_j denotes the sub-module j, and where ‘i,j’ means that the sum of the different terms should cover all possible combinations of i and j. In the calculation, SCR_i and SCR_j are replaced by the following:

SCR _{nl premium and reserve} denotes the non-life premium and reserve risk sub-module,
SCR _{nl catastrophe} denotes the non-life catastrophe risk sub-module,

Division 2 Calculation of the non-life underwriting risk module