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Version status: Entered into force | Document consolidation status: Updated to reflect all known changes
Version date: 18 January 2015 - onwards
Version 2 of 2

Article 252 Minimum Capital Requirement: composite insurance undertakings

1. The notional life Minimum Capital Requirement and the notional non-life Minimum Capital Requirement referred to in Article 74(2) of Directive 2009/138/EC shall be calculated in accordance with paragraphs 2 to 11 of this Article.

2. The notional non-life Minimum Capital Requirement shall be equal to the following:

NMCRnl = max(NMCR(combined,nl); AMCRnl)

where:

(a) NMCR(combined,nl) denotes the notional combined non-life Minimum Capital Requirement;

(b) AMCRnl denotes the absolute floor prescribed in Article 129(1)(d)(i) of Directive 2009/138/EC and in Article 253 of this Regulation.

3. The notional combined non-life Minimum Capital Requirement shall be equal to the following:

NMCR(combined,nl) = min(max(NMCR(linear,nl); 0,25 • (NSCRnl + Addonnl); 0,45 • (NSCRnl + Addonnl))

where:

(a) NMCR(linear,nl) denotes the notional linear Minimum Capital Requirement for non-life insurance or reinsurance activity;

(b) NSCRnl denotes the notional Solvency Capital Requirement for non-life insurance or reinsurance activity;