Solvency Capital Requirement - Standard Formula Structure of the SCR Standard Formula
Application provision
1.1 Unless otherwise stated, this Part applies to:
- (1) a UK Solvency II firm; and
- (2) in accordance with Insurance General Application 3, the Society, as modified by 8.
2.1
01/01/2016
For a firm calculating its SCR on the basis of the standard formula, its SCR is the sum of the following items:
- (1) the basic SCR;
- (2) the capital requirement for operational risk, as set out in 5; and
- (3) the adjustment for the loss-absorbing capacity of technical provisions and deferred taxes, as set out in 6.