1. Calculation of the Basic Solvency Capital Requirement

The Basic Solvency Capital Requirement set out in Article 104(1) shall be equal to the following: Basic SCR = Σ_(i,j)Corr_(i,j) × SCR_(i) × SCR_(j) where SCR_(i) denotes the risk module i and SCR_(j) denotes the risk 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 _(non-life) denotes the non-life underwriting risk module, SCR _(life) denotes the life underwriting risk module, SCR _(health) denotes the health underwriting risk module, SCR _(market) denotes the market risk module, SCR _(default) denotes the counterparty default risk module, The factor Corr _(i,j) denotes the item set out in row i and in column j of the following correlation matrix: j i Market Default Life Health Non-life Market 1 0,25 0,25 0,25 0,25 Default 0,25 1 0,25 0,25 0,5 Life 0,25 0,25 1 0,25 0 Health 0,25 0,25 0,25 1 0 Non-life 0,25 0,5 0 0 1

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Source: EUR-Lex (Cellar) · retrieved 2026-10-09 · Text as adopted (Official Journal); later amendments are not incorporated in this text.