S.27.01 — Solvency Capital Requirement — Non–life and health catastrophe risk
Download PDFS.27.01 — Solvency Capital Requirement — Non–life and health catastrophe risk
General comments:
This section relates to the annual submission of information for groups, ring fenced–funds, matching adjustment portfolios and remaining part.
Template S.27.01 has to be filled in for each ring–fenced fund (RFF), each matching adjustment portfolio (MAP) and for the remaining part. However, where an RFF/MAP includes a MAP/RFF embedded, the fund should be treated as different funds. This template shall be reported for all sub–funds of a material RFF/MAP as identified in the second table of S.01.03.
Template SR.27.01 is only applicable in relation to RFF/MAP from undertakings consolidated according to Article 335, paragraph 1, (a), (b) and (c) of Delegated Regulation (EU) 2015/35, when method 1 (Accounting consolidation–based method) is used, either exclusively or in combination with method 2 (Deduction and aggregation method).
This template is designed to allow an understanding of how the catastrophe risk module of the SCR has been calculated and what are the main drivers.
For every type of catastrophe risk the risk mitigating effect of the undertaking’s specific reinsurance contracts and special purpose vehicles must be determined. This calculation is prospective and must be based on the reinsurance program of the next reporting year as described in the reinsurance templates for Facultative covers (S.30.01 and S.30.02 of Annex II) and Outgoing reinsurance program in the next reporting year (S.30.03 and S.30.04 of Annex II).
Undertakings need to estimate their recoveries from risk mitigation in line with the Directive 2009/138/EC, Delegated Regulation (EU) 2015/35 and any relevant technical standard. Undertakings shall complete the catastrophe reporting template only to the granularity required to perform this calculation.
Under the non–life and health underwriting risk modules, catastrophe risk is defined as the risk of loss, or of adverse change in the value of insurance liabilities, resulting from significant uncertainty of pricing and provisioning assumptions related to extreme or exceptional events as set out in Article 105(2)(b) and (4)(c) of Directive 2009/138/EC.
The reported capital requirements reflects the capital requirements before and after risk mitigation which is the risk mitigating effect of the undertaking’s specific reinsurance contracts and special purpose vehicles. The reported capital requirement after risk mitigation is before the loss absorbing capacity of technical provisions. The default value of the risk mitigation shall be reported as a positive value in order to be deducted.
In case the diversification effect reduces the capital requirement the default value of the diversification shall be reported as a negative value.
For group reporting the following specific requirements shall be met:
- d) This information is applicable when method 1 as defined in Article 230 of Directive 2009/138/EC is used, either exclusively or in combination with method 2 as defined in Article 233 of Directive 2009/138/EC;
- e) When combination method is being used, this information is to be submitted only for the part of the group calculated with method 1 as defined in Article 230 of Directive 2009/138/EC, and;
- f) This information does not apply to groups when method 2 as defined in Article 233 of Directive 2009/138/EC is being used exclusively.
| Z0020 | Ring–fenced fund, matching adjustment portfolio or remaining part |
Identifies whether the reported figures are with regard to a RFF, matching adjustment portfolio or to the remaining part. One of the options in the following closed list shall be used: 1 — RFF/MAP 2 — Remaining part |
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| Z0030 | Fund/Portfolio number |
When item Z0020 = 1, identification number for a ring fenced fund or matching adjustment portfolio. This number is attributed by the undertaking within the scope of group supervision and must be consistent over time and with the fund/portfolio number reported in other templates. |
| R0001/C001 | Simplifications used – fire risk |
Identify whether an undertaking within the scope of group for the SCR calculation used simplifications for the calculation of fire risk. The following options shall be used: 1 – Simplifications for the purposes of Article 90c 9 – Simplifications not used Where R0001/C0001 = 1, only C0880 shall be filled in for R2600. |
| R0002/C001 | Simplifications used – natural catastrophe risk |
Identify whether an undertaking within the scope of group for the SCR calculation used simplifications for the calculation of natural catastrophe risk. The following options shall be used: 1 – Simplification for the purposes of Article 90b windstorm 2 – Simplification for the purposes of Article 90b earthquake 3 – Simplification for the purposes of Article 90b flood 4 – Simplification for the purposes of Article 90b hail 5 – Simplification for the purposes of Article 90b subsidence 9 – Simplifications not used |
| Options 1 to 5 may be used simultaneously. | ||
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| Non–life catastrophe risk — Summary |
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| C0010/R0010 | SCR before risk mitigation — Natural catastrophe risk |
This is the total catastrophe risk before risk mitigation arising from all natural catastrophe perils and taking into consideration the diversification effect between the perils given in C0010/R0070. |
| C0010/R0020–R0060 | SCR before risk mitigation — Natural catastrophe risk perils |
This is the total capital requirement before risk mitigation per natural catastrophe peril, taking into consideration the diversification effect between zones and regions. Per natural peril this amount is equal to the Catastrophe Risk Charge before risk mitigation. |
| C0010/R0070 | SCR before risk mitigation — Diversification between perils |
Diversification effect arising from the aggregation of the total capital charges before risk mitigation relating to different natural catastrophe perils. |
| C0020/R0010 | Total risk mitigation — Natural catastrophe risk |
This is the total risk mitigation effect of the group’s specific reinsurance contracts and special purpose vehicles arising from all natural catastrophe perils and taking into consideration the diversification effect between the perils given in C0020/R0070. |
| C0020/R0020–R0060 | Total risk mitigation — Natural catastrophe risk perils |
This is the total risk mitigation effect of the group’s specific reinsurance contracts and special purpose vehicles per natural catastrophe peril. |
| C0020/R0070 | Total risk mitigation — Diversification between perils |
Diversification effect arising from the aggregation of the risk mitigation effect of the group’s specific reinsurance contracts and special purpose vehicles relating to different natural catastrophe perils. |
| C0030/R0010 | SCR after risk mitigation — Natural catastrophe risk |
This is the total catastrophe risk after risk mitigation arising from all natural catastrophe perils and taking into consideration the diversification effect between the perils given in C0030/R0070. |
| C0030/R0020–R0060 | SCR after risk mitigation — Natural catastrophe risk perils |
This is the total capital requirement after risk mitigation per natural catastrophe peril, taking into consideration the diversification effect between zones and regions. Per natural peril this amount is equal to the Catastrophe Risk Charge after risk mitigation. |
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| C0030/R0070 | SCR after risk mitigation — Diversification between perils |
Diversification effect arising from the aggregation of the total capital charges after risk mitigation relating to different natural catastrophe perils. |
| C0010/R0080 | SCR before risk mitigation — Catastrophe risk non–proportional property reinsurance |
This is the total catastrophe risk before risk mitigation arising from non–proportional property reinsurance. |
| C0020/R0080 | Total risk mitigation — Catastrophe risk non–proportional property reinsurance |
This is the total risk mitigation effect of the group’s specific reinsurance contracts and special purpose vehicles for non–proportional property reinsurance. |
| C0030/R0080 | SCR after risk mitigation — Catastrophe risk non–proportional property reinsurance |
This is the total catastrophe risk after risk mitigation arising from non–proportional property reinsurance. |
| C0010/R0090 | SCR before risk mitigation — Man– made catastrophe risk |
This is the total catastrophe risk before risk mitigation arising from all man–made perils and taking into consideration the diversification effect between the perils given in C0010/R0160. |
| C0010/R0100–R0150 | SCR before risk mitigation — Man– made catastrophe risk perils |
This is the total capital requirement before risk mitigation per man–made peril, taking into consideration the diversification effect between sub–perils. |
| Per man–made peril this amount is equal to the Catastrophe Risk Charge before risk mitigation. |
| C0010/R0160 | SCR before risk mitigation — Diversification between perils |
Diversification effect arising from the aggregation of the total capital charges before risk mitigation relating to different man– made perils. |
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| C0020/R0090 | Total risk mitigation — Man– made catastrophe risk |
This is the total risk mitigation effect of the group’s specific reinsurance contracts and special purpose vehicles arising from all man–made perils and taking into consideration the diversification effect between the perils given in C0020/R0160. |
| C0020/R0100–R0150 | Total risk mitigation — Man– made catastrophe risk perils |
This is the total risk mitigation effect of the group’s specific reinsurance contracts and special purpose vehicles per man–made catastrophe peril. |
| C0020/R0160 | Total risk mitigation — Diversification between perils |
Diversification effect arising from the aggregation of the risk mitigation effect of the group’s specific reinsurance contracts and special purpose vehicles relating to different man–made perils. |
| C0030/R0090 | SCR after risk mitigation — Man– made catastrophe risk |
This is the total catastrophe risk after risk mitigation arising from all man–made catastrophe perils and taking into consideration the diversification effect between the perils given in C0030/R0160. |
| C0030/R0100–R0150 | SCR after risk mitigation — Man– made catastrophe risk perils |
This is the total capital requirement after risk mitigation per man–made catastrophe peril, taking into consideration the diversification effect between sub–perils. Per man–made peril this amount is equal to the Catastrophe Risk Charge after risk mitigation. |
| C0030/R0160 | SCR after risk mitigation — Diversification between perils |
Diversification effect arising from the aggregation of the total capital charges after risk mitigation relating to different man– made catastrophe perils. |
| C0010/R0170 | SCR before risk mitigation — Other non–life catastrophe risk |
This is the total catastrophe risk before risk mitigation arising from all ‘other non–life’ perils and taking into consideration the diversification effect between the perils given in C0010/R0180. |
| C0010/R0180 | SCR before risk mitigation — Diversification between perils |
Diversification effect arising from the aggregation of the total capital charges before risk mitigation relating to different ‘other non–life’ perils. |
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| C0020/R0170 | Total risk mitigation — Other non–life catastrophe risk |
This is the total risk mitigation effect of the group’s specific reinsurance contracts and special purpose vehicles arising from all ‘other non–life’ perils and taking into consideration the diversification effect between the perils given in C0020/R0180. |
| C0020/R0180 | Total risk mitigation — Diversification between perils |
Diversification effect arising from the aggregation of the risk mitigation effect of the group’s specific reinsurance contracts and special purpose vehicles relating to different ‘other non–life’ perils. |
| C0030/R0170 | SCR after risk mitigation — Other non–life catastrophe risk |
This is the total catastrophe risk after risk mitigation arising from all ‘other non–life’ catastrophe perils and taking into consideration the diversification effect between the perils given in C0030/R0180. |
| C0030/R0180 | SCR after risk mitigation — Diversification between perils |
Diversification effect arising from the aggregation of the total capital charges after risk mitigation relating to different ‘other non–life’ catastrophe perils. |
| C0010/R0190 | SCR before risk mitigation — Total Non–life catastrophe risk before diversification |
This is the total catastrophe risk before risk mitigation arising from all the sub–modules (Natural catastrophe, Non–proportional property reinsurance, Man–made and ‘Other non–life’ catastrophe risks) before the diversification effect between the sub– modules. |
| C0010/R0200 | SCR before risk mitigation — Diversification between sub– modules |
Diversification effect arising from the aggregation of the total capital charges before risk mitigation relating to different sub– modules (Natural catastrophe, Non– proportional property reinsurance, Man–made and ‘Other non–life’ catastrophe risks). |
| C0010/R0210 | SCR before risk mitigation — Total Non–life |
This is the total catastrophe risk before risk mitigation arising from all the sub–modules (Natural catastrophe, Non–proportional property reinsurance, Man–made and ‘Other |
| catastrophe risk after diversification |
non–life’ catastrophe risks), taking into consideration the diversification effect between the sub–modules given in C0010/R0200. |
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| C0020/R0190 | Total risk mitigation — Total Non–life catastrophe risk before diversification |
This is the total risk mitigation effect of the group’s specific reinsurance contracts and special purpose vehicles arising from all the sub–modules (Natural catastrophe, Non– proportional property reinsurance, Man–made and ‘Other non–life’ catastrophe risks), before the diversification effect between the sub–modules. |
| C0020/R0200 | Total risk mitigation — Diversification between sub– modules |
Diversification effect arising from the aggregation of the risk mitigation effect of the group’s specific reinsurance contracts and special purpose vehicles relating to different sub–modules (Natural catastrophe, Non– proportional property reinsurance, Man–made and ‘Other non–life’ catastrophe risks). |
| C0020/R0210 | Total risk mitigation — Total Non–life catastrophe risk after diversification |
This is the total risk mitigation effect of the group’s specific reinsurance contracts and special purpose vehicles arising from all the sub–modules (Natural catastrophe, Non– proportional property reinsurance, Man–made and ‘Other non–life’ catastrophe risks), taking into consideration the diversification effect between the sub–modules given in C0020/R0200. |
| C0030/R0190 | SCR after risk mitigation — Total Non–life catastrophe risk before diversification |
This is the total catastrophe risk after risk mitigation arising from all the sub–modules (Natural catastrophe, Non–proportional property reinsurance, Man–made and ‘Other non–life’ catastrophe risks), before the diversification effect between the sub– modules. |
| C0030/R0200 | SCR after risk mitigation — Diversification between sub– modules |
Diversification effect arising from the aggregation of the total capital charges after risk mitigation relating to different sub– modules (Natural catastrophe, Non– proportional property reinsurance, Man–made and ‘Other non–life’ catastrophe risks). |
| C0030/R0210 | SCR after risk mitigation — Total Non–life catastrophe risk after diversification |
This is the total catastrophe risk after risk mitigation arising from all the sub–modules (Natural catastrophe, Non–proportional property reinsurance, Man–made and ‘Other non–life’ catastrophe risks), taking into consideration the diversification effect between the sub–modules given in item C0030/R0200. |
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| Health catastrophe risk — Summary |
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| C0010/R0300 | SCR before risk mitigation — Health catastrophe risk |
This is the total catastrophe risk before risk mitigation arising from all Health catastrophe risk sub–modules and taking into consideration the diversification effect between the sub–modules given in C0010/R0340. |
| C0010/R0310–R0330 | SCR before risk mitigation — Health catastrophe risk sub–modules |
This is the total capital requirement before risk mitigation per Health catastrophe risk sub–modules, taking into consideration the diversification effect between the countries. Per Health catastrophe risk sub–module this amount is equal to the Catastrophe Risk Charge before risk mitigation. |
| C0010/R0340 | SCR before risk mitigation — Diversification between sub– modules |
Diversification effect arising from the aggregation of the total capital charges before risk mitigation relating to different Health catastrophe risk sub–modules. |
| C0020/R0300 | Total risk mitigation — Health catastrophe risk |
This is the total risk mitigation effect of the group’s specific reinsurance contracts and special purpose vehicles arising from all Health catastrophe risk sub–modules and taking into consideration the diversification effect between the sub–modules given in C0020/R0340. |
| C0020/R0310–R0330 | Total risk mitigation — Health catastrophe risk sub–modules |
This is the total risk mitigation effect of the group’s specific reinsurance contracts and special purpose vehicles per Health catastrophe risk sub–module. |
| C0020/R0340 | Total risk mitigation — Diversification between sub– modules |
Diversification effect arising from the aggregation of the risk mitigation effect of the group’s specific reinsurance contracts and special purpose vehicles relating to different Health catastrophe risk sub–modules. |
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| C0030/R0300 | SCR after risk mitigation — Health catastrophe risk |
This is the total catastrophe risk after risk mitigation arising from all Health catastrophe risk sub–modules and taking into consideration the diversification effect between the sub–modules given in C0030/R0340. |
| C0030/R0310–R0330 | SCR after risk mitigation — Health catastrophe risk sub–modules |
This is the total capital requirement after risk mitigation per Health catastrophe risk sub– module, taking into consideration the diversification effect between countries. Per Health catastrophe risk sub–module this amount is equal to the Catastrophe Risk Charge after risk mitigation. |
| C0030/R0340 | SCR after risk mitigation — Diversification between sub– modules |
Diversification effect arising from the aggregation of the total capital charges after risk mitigation relating to different Health catastrophe risk sub–modules. |
| Non–life catastrophe risk Natural catastrophe risk — Windstorm |
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| C0040/R0610–R0780 | Estimation of the gross premium to be earned — Other Regions |
An estimate of the premiums to be earned by the insurance or reinsurance group, during the following year in relation to the 14 regions other than the specified regions(include regions as specified in Annex III, except the ones specified in Annex V or in Annex XIII of Delegated Regulation (EU) 2015/35), for the contract in relation to the obligations of lines of business fire and other damage covering windstorm risk, including the proportional reinsurance obligations and marine, aviation and transport insurance covering onshore property damage by |
| windstorm, including the proportional reinsurance obligations. Premiums shall be gross, without deduction of premiums for reinsurance contracts. |
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| C0040/R0790 | Estimation of the gross premium to be earned — Total Windstorm Other Regions before diversifications |
Total of the estimate of the premiums to be earned by the insurance or reinsurance group before diversification, during the following year for the other 14 regions other than the specified regions. |
| C0050/R0400–R0590 | Exposure — specified Region |
The sum of the total insured per each of the 23 specified regions for lines of business: |
| Fire and other damage, including the proportional reinsurance obligations, in relation to contracts that cover windstorm risk and where the risk is situated in this particular specified region; and |
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| Marine, aviation and transport insurance, including the proportional reinsurance obligations, in relation to contracts that cover onshore property damage by Windstorm and where the risk is situated in this particular specified region. |
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| C0050/R0600 | Exposure — Total Windstorm specified Regions before diversification |
Total of the exposure before diversification for the 23 specified regions. |
| C0060/R0400–R0590 | Specified Gross Loss —specified Region |
Specified gross windstorm loss per each of the 23 specified regions, taking into consideration the effect of diversification effect between zones. |
| C0060/R0600 | Specified Gross Loss — Total Windstorm specified Regions before diversification |
Total of the specified gross loss before diversification for the 23 specified regions. |
| C0070/R0400–R0590 | Catastrophe Risk Charge Factor before risk |
The risk charge factor per each of the 23 specified regions for Windstorm, taking into |
| mitigation — specified Region |
consideration the effect of diversification effect between zones. |
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| C0070/R0600 | Catastrophe Risk Charge Factor before risk mitigation — Total Windstorm specified Regions before diversification |
Ratio between total specified gross loss and total exposure. |
| C0080/R0400–R0590 | Scenario A or B — specified Region |
The larger of the capital requirement for Windstorm risk for each of the 23 specified regions according to scenario A or scenario B. When determining the largest amount of scenario A and B, the risk mitigation effect of the group’s specific reinsurance contracts and special purpose vehicles relating to this peril, shall be taken into account. |
| C0090/R0400–R0590 | Catastrophe Risk Charge before risk mitigation — specified Region |
Capital requirement before risk mitigation arising from Windstorm for each of the 23 specified Regions corresponding to the larger of scenario A or B. |
| C0090/R0600 | Catastrophe Risk Charge before risk mitigation — Total Windstorm specified Regions before diversification |
Total of the capital requirement before risk mitigation arising from Windstorm for the 23 specified regions. |
| C0090/R0790 | Catastrophe Risk Charge before risk mitigation — Total Windstorm Other Regions before diversifications |
The capital requirement before risk mitigation for Windstorm risk in regions other than the specified Regions. It is the amount of the instantaneous loss, without deduction of the amounts recoverable from reinsurance contracts and Special Purpose Vehicles. |
| C0090/R0800 | Catastrophe Risk Charge before risk mitigation — Total Windstorm all |
Total of the capital requirement before risk mitigation arising from Windstorm for all regions. |
Solvency II software
| Regions before diversification |
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| C0090/R0810 | Catastrophe Risk Charge before risk mitigation — Diversification effect between regions |
Diversification effect arising from the aggregation of the Windstorm risks relating to the different regions (both specified Regions and ‘other regions’) |
| C0090/R0820 | Catastrophe Risk Charge before risk mitigation — Total Windstorm after diversification |
This is the total capital requirement before risk mitigation for Windstorm risk, taking into consideration the diversification effect reported in item C0090/R0810. |
| C0100/R0400–R0590 | Estimated Risk Mitigation — specified Region |
Per each of the 23 specified Regions, the estimated risk mitigation effect, corresponding to the selected scenario, of the group’s specific reinsurance contracts and special purpose vehicles relating to this peril, excluding the estimated reinstatement premiums. |
| C0100/R0600 | Estimated Risk Mitigation — Total Windstorm specifie d Regions before diversification |
Total of the estimated risk mitigation arising from Windstorm for the 23 specified regions. |
| C0100/R0790 | Estimated Risk Mitigation — Total Windstorm Other Regions before diversifications |
For all the regions other the specified Regions, the estimated risk mitigation effect of the group’s specific reinsurance contracts and special purpose vehicles relating to this peril, excluding the estimated reinstatement premiums. |
| C0100/R0800 | Estimated Risk Mitigation — Total Windstorm all Regions before diversification |
Total of the estimated risk mitigation arising from Windstorm for all regions. |
| C0110/R0400–R0590 | Estimated Reinstatement Premiums — specified Region |
For each of the 23 specified Regions, the estimated reinstatement premiums, corresponding to the selected scenario, as a result of the group’s specific reinsurance |
| contracts and special purpose vehicles relating to this peril. |
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| C0110/R0600 | Estimated Reinstatement Premiums — Total Windstorm specified Regions before diversification |
Total of the estimated reinstatement premiums for the 23 specified regions. |
| C0110/R0790 | Estimated Reinstatement Premiums — Total Windstorm Other Regions before diversifications |
For all the regions other than the specified Regions, the estimated reinstatement premiums, as a result of the group’s specific reinsurance contracts and special purpose vehicles relating to this peril. |
| C0110/R0800 | Estimated Reinstatement Premiums — Total Windstorm all Regions before diversification |
Total of the estimated reinstatement premiums for all regions. |
| C0120/R0400–R0590 | Catastrophe Risk Charge after risk mitigation — specified Region |
Capital requirement, after the deduction of the risk mitigating effect of the group’s specific reinsurance contracts and special purpose vehicles relating to this peril, arising from Windstorms in each of the specified regions, corresponding to the selected scenario. |
| C0120/R0600 | Catastrophe Risk Charge after risk mitigation — Total Windstorm specified Regions before diversification |
Total of the capital requirement, after the deduction of the risk mitigating effect of the group’s specific reinsurance contracts and special purpose vehicles for the 23 specified regions. |
| C0120/R0790 | Catastrophe Risk Charge after risk mitigation — Total Windstorm Other Regions before diversifications |
Capital requirement after risk mitigation for Windstorm risk in regions other than the specified Regions. It is the amount of the instantaneous loss, including the deduction of the amounts recoverable from reinsurance contracts and Special Purpose Vehicles. |
| C0120/R0800 | Catastrophe Risk Charge after risk mitigation — Total Windstorm all Regions before diversification |
Total of the capital requirement, after the deduction of the risk mitigating effect of the group’s specific reinsurance contracts and special purpose vehicles for all regions. |
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| C0120/R0810 | Catastrophe Risk Charge after risk mitigation — Diversification effect between regions |
Diversification effect arising from the aggregation of the capital requirement after risk mitigations for Windstorm risks relating to the different regions (both specified Regions and ‘other regions’). |
| C0120/R0820 | Catastrophe Risk Charge after risk mitigation — Total Windstorm after diversification |
This is the total capital requirement after risk mitigation for Windstorm risk, taking into consideration the diversification effect given in item C0120/R0810. |
| Natural catastrophe risk — Earthquake |
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| C0130/R1040–R1210 | Estimation of the gross premium to be earned — Other Regions |
An estimate of the premiums to be earned by the insurance or reinsurance group, during the following year in relation to each of the 14 regions other than the specified Regions(include regions as specified in Annex III, except the ones specified in Annex V or in Annex XIII of Delegated Regulation (EU) 2015/35), for the contract in relation to the obligations of lines of business: |
| Fire and other damage covering earthquake risk, including the proportional reinsurance obligations; and |
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| Marine, aviation and transport insurance covering onshore property damage by earthquake, including the proportional reinsurance obligations. |
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| Premiums shall be gross, without deduction of premiums for reinsurance contracts. |
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| C0130/R1220 | Estimation of the gross premium to be earned — Total |
Total of the estimate of the premiums to be earned, by the insurance or reinsurance |
Solvency II software
| Earthquake Other Regions before diversification |
group, during the following year for the other regions. |
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| C0140/R0830–R1020 | Exposure — specified Region |
The sum of the total insured per each of the 20 specified regions for the lines of business: |
| Fire and other damage, including the proportional reinsurance obligations, in relation to contracts that cover Earthquake risk and where the risk is situated in this particular specified region; and For lines of business Marine, aviation and transport insurance, including the proportional reinsurance obligations, in relation to contracts that cover onshore property damage by Earthquake and where the risk is situated in this particular |
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| specified region. |
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| C0140/R1030 | Exposure — Total Earthquake specified Regions before diversification |
Total of the exposure for the 20 specified regions. |
| C0150/R0830–R1020 | Specified Gross Loss — specified Region |
Specified gross Earthquake loss for each of the 20 specified regions, taking into consideration the effect of diversification effect between zones. |
| C0150/R1030 | Specified Gross Loss — Total Earthquake specified Regions before diversification |
Total of the specified gross Earthquake loss for the 20 specified regions. |
| C0160/R0830–R1020 | Catastrophe Risk Charge Factor before risk mitigation — specified Region |
The Risk Charge Factor per each of the 20 specified regions for Earthquake according to the Standard Formula, taking into consideration the effect of diversification effect between zones. |
| C0160/R1030 | Catastrophe Risk Charge Factor before risk mitigation — Total |
Ratio between total specified gross loss and total exposure. |