Article 119
Non-life catastrophe risk sub-module
1.
The non-life catastrophe risk sub-module shall consist of all of the following sub-modules:
(a)
the natural catastrophe risk sub-module;
(b)
the sub-module for catastrophe risk of non-proportional property reinsurance;
(c)
the man-made catastrophe risk sub-module;
(d)
the sub-module for other non-life catastrophe risk.
2.
The capital requirement for the non-life catastrophe underwriting risk module shall be equal to the following:
where:
(a)
SCRnatCAT denotes the capital requirement for natural catastrophe risk;
(b)
SCRnpproperty denotes the capital requirement for the catastrophe risk of non-proportional property reinsurance;
(c)
SCRmmCAT denotes the capital requirement for man-made catastrophe risk;
(d)
SCRCATother denotes the capital requirement for other non-life catastrophe risk.