Core Capital and Excess Capital

Hi, all I want to confirm below. My understandng is correct? 1. Safty reserve for unexpected outlay is included in Core Capital ? 2. To calculate Excess Capital, implied liabilities also be excluded from the assets ? Thanks in advance.

I assume core is for “required” spending. So I assume safety reserve is in “core” as this is likely required. I would think you exclude “implied liabilities” from Excess capital as you have to pay this out and invest the difference.

Thanks, darlia!

Look at the chart at exhibit I Hypothetical Life balance sheet and definition of core cap on same page. Reading: Estate planning in global context. Cannot not be put any clearer than that.