Regulatory Alerts2015-07-14
Decree of Národná banka Slovenska No 6/2015 on Solvency for Insurance and Reinsurance Undertakings
Národná banka Slovenska issued Decree No 6/2015 to establish the calculation methods for the basic solvency capital requirement and define its risk modules for insurance and reinsurance undertakings. The decree specifies formulas for non-life, life, health, market, and counterparty default risks, while introducing a symmetric adjustment mechanism for equity risk and setting absolute minimum capital floors. This regulation transposes relevant European Union Solvency II directives and entered into force on 1 January 2016.
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