Group Solvency Requirement

SCR of Other undertakings calculated in accordance with Article 336 (d) of Delegated Regulation (EU) 2015/35 (the Delegated Regulation)  outlines the variables to take into account when determining the amount of capital requirement for undertakings referred to in Article 335(1)(f) of the Delegated Regulation and such amount is then brought into the total consolidated group solvency calculation by summation. For each undertaking included in the scope of SCR of Other undertakings , the equity risk, the currency risk and the market risk concentration may be aggregated using the relevant correlation coefficients prior to the aggregation of SCRs for the consolidated group SCR. It is important to note that the Solvency II framework does not provide for diversification between undertakings referred to in article 335(1)(f) of the Delegated Regulation falling under SCR of Other undertakings  nor does it allow for diversification between such undertakings and the rest of the group.