1. European
  2. Legislation (EU)
  3. EU Regulations
  4. 2015
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  1. Regulation 2015/35/EU - Solvency II Delegated Regulation
  2. Title I Valuation and risk-based capital requirements (pillar I), enhanced governance (pillar II) and increased transparency (pillar III) (arts. 1-327)
  3. Chapter V Solvency Capital Requirement Standard Formula (arts. 83-221)
  4. Section 2 Non-life underwriting risk module (arts. 114-135)
  5. Article 116 Volume measure for non-life premium and reserve risk
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Version status: Amended | Document consolidation status: Updated to reflect all known changes
Version date: 8 July 2019 - onwards
  Version 3 of 3    

Article 116 Volume measure for non-life premium and reserve risk

1. The volume measure for non-life premium and reserve risk shall be equal to the sum of the volume measures for premium and reserve risk of the segments set out in Annex II.

2. For all segments set out in Annex II, the volume measure of a particular segment s shall be equal to the following:

Vs = (V(prem,s) + V(res,s)) • (0,75 + 0,25 •DIVs)

where:

(a) V(prem,s) denotes the volume measure for premium risk of segment s;

(b) V(res,s) denotes the volume measure for reserve risk of segment s;

(c) DIVs denotes the factor for geographical diversification of segment s.

3. For all segments set out in Annex II, the volume measure for premium risk of a particular segment s shall be equal to the following:

V(prem,s) = max [Ps; P(last,s)] + FP(existing,s) + FP(future,s)

where:

(a) Ps denotes an estimate of the premiums to be earned by the insurance or reinsurance undertaking in the segment s during the following 12 months;

(b) P(last,s) denotes the premiums earned by the insurance or reinsura

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