Solvency Capital Requirement - General Provisions Syndicate Notional SCR and Member Notional SCR: Lloyd’s

Application provision

8.1 This Chapter applies to managing agents and, where specified, the Society.

8.1

01/01/2016

This Chapter applies to managing agents and, where specified, the Society.

8.2

01/01/2016

A managing agent must calculate a notional SCR for each syndicate which it manages.

8.3

01/01/2016

The notional SCR for each syndicate referred to in 8.2 must be calculated using a methodology which is consistent with the method used by the Society to derive the SCR for Lloyd’s for the purposes of enabling the Society to comply with the relevant provisions of this Chapter.

8.4

01/01/2016

The Society must calculate a notional SCR for each member using the method of calculation chosen to calculate the SCR for Lloyd’s for the purpose of 3.1.

8.5

01/01/2016

Where a managing agent manages risks which are included in the Lloyd’s SCR calculation, the managing agent must promptly assist and provide all relevant information to the Society for the purposes of the Society complying with relevant provisions of SCR Rules.