1. 

(1) The Basic Solvency Capital Requirement set out in Regulation 117(1) shall be equal to the following:

where -

SCRi denotes the risk module i;

SCRj denotes the risk 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 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.

(3) The factor Corr i,j denotes the item set out in row i and in column j of the following correlation matrix: