Schedule 3, Part 2 Calculation of the non-life underwriting risk module

2. 

(1) The non-life underwriting risk module set out in Regulation 119(2) shall be equal to the following:

where -

SCRi denotes the sub-module i;

SCRj denotes the sub-module j;

"i,j' means that the sum of the different terms should cover all possible combinations of i and j.

(2) In the calculation, SCRi and SCRj 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.