Regulatory Alerts2024-12-05
Order on the Calculation of the Solvency Capital Requirement Using the Standard Formula for Group 1 Insurance Undertakings
Issued by the Danish Financial Supervisory Authority, this Order establishes the specific rules for calculating the Solvency Capital Requirement (SCR) using the Standard Formula for Group 1 insurance undertakings and groups under Danish insurance law. It mandates that calculations must adhere to both the Danish Insurance Business Act and specific articles of the EU Solvency II Delegated Regulation, covering risk modules for insurance, market, credit, and operational risks. The regulation supersedes previous orders, introduces transitional provisions for standard parameters regarding foreign currency exposures and equity risks, and sets an effective date of January 1, 2025.
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