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<?taxonomy-version 2.6.0?>
<?taxonomy-date 2021-07-15?>
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/1" xlink:type="simple" xlink:href="hier.xsd#s2c_1" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/1">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x0" xlink:label="loc_s2c_x0" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x0" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Total/NA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x0" xlink:to="label_s2c_x0" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x1" xlink:label="loc_s2c_x1" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x1" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Alternative funds</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x1" xlink:to="label_s2c_x1" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x4" xlink:label="loc_s2c_x4" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x4" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Asset allocation funds</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x4" xlink:to="label_s2c_x4" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x13" xlink:label="loc_s2c_x13" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x13" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Corporate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x13" xlink:to="label_s2c_x13" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x14" xlink:label="loc_s2c_x14" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x14" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Corporate other than investment funds</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x14" xlink:to="label_s2c_x14" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x18" xlink:label="loc_s2c_x18" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x18" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Debt funds</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x18" xlink:to="label_s2c_x18" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x23" xlink:label="loc_s2c_x23" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x23" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Equity funds</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x23" xlink:to="label_s2c_x23" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x30" xlink:label="loc_s2c_x30" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x30" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">General government</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x30" xlink:to="label_s2c_x30" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x31" xlink:label="loc_s2c_x31" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x31" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">General government and corporate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x31" xlink:to="label_s2c_x31" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x34" xlink:label="loc_s2c_x34" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x34" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Households</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x34" xlink:to="label_s2c_x34" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x35" xlink:label="loc_s2c_x35" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x35" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Infrastructure funds</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x35" xlink:to="label_s2c_x35" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x47" xlink:label="loc_s2c_x47" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x47" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Investment funds</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x47" xlink:to="label_s2c_x47" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x48" xlink:label="loc_s2c_x48" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x48" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Investment funds other than equity funds, debt funds, money market funds, asset allocation funds, real estate funds, alternative funds, private equity funds and infrastructure funds</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x48" xlink:to="label_s2c_x48" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x53" xlink:label="loc_s2c_x53" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x53" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Money market funds</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x53" xlink:to="label_s2c_x53" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x63" xlink:label="loc_s2c_x63" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x63" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Other than households</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x63" xlink:to="label_s2c_x63" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x64" xlink:label="loc_s2c_x64" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x64" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Other than households, general government and corporate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x64" xlink:to="label_s2c_x64" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x70" xlink:label="loc_s2c_x70" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x70" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Private equity funds</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x70" xlink:to="label_s2c_x70" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x72" xlink:label="loc_s2c_x72" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x72" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Real estate funds</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x72" xlink:to="label_s2c_x72" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/2" xlink:type="simple" xlink:href="hier.xsd#s2c_2" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/2">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x0" xlink:label="loc_s2c_x0" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x0" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Total/NA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x0" xlink:to="label_s2c_x0" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x17" xlink:label="loc_s2c_x17" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x17" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Credit institutions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x17" xlink:to="label_s2c_x17" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x27" xlink:label="loc_s2c_x27" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x27" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Finite reinsurance undertakings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x27" xlink:to="label_s2c_x27" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x39" xlink:label="loc_s2c_x39" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x39" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Insurance counterparties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x39" xlink:to="label_s2c_x39" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x45" xlink:label="loc_s2c_x45" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x45" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Insurance/reinsurance undertakings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x45" xlink:to="label_s2c_x45" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x66" xlink:label="loc_s2c_x66" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x66" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Other than insurance/reinsurance undertakings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x66" xlink:to="label_s2c_x66" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x67" xlink:label="loc_s2c_x67" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x67" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Other than insurance/reinsurance undertakings and credit institutions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x67" xlink:to="label_s2c_x67" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x74" xlink:label="loc_s2c_x74" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x74" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Reinsurance counterparties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x74" xlink:to="label_s2c_x74" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x75" xlink:label="loc_s2c_x75" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x75" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Reinsurance undertakings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x75" xlink:to="label_s2c_x75" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x80" xlink:label="loc_s2c_x80" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x80" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Special purpose vehicle [SPV]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x80" xlink:to="label_s2c_x80" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x105" xlink:label="loc_s2c_x105" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x105" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">SPV fully funded in relation to cedant obligations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x105" xlink:to="label_s2c_x105" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x106" xlink:label="loc_s2c_x106" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x106" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">SPV not fully funded in relation to cedant obligations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x106" xlink:to="label_s2c_x106" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/3" xlink:type="simple" xlink:href="hier.xsd#s2c_3" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/3">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x0" xlink:label="loc_s2c_x0" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x0" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Total/NA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x0" xlink:to="label_s2c_x0" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x26" xlink:label="loc_s2c_x26" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x26" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Finite reinsurance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x26" xlink:to="label_s2c_x26" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x76" xlink:label="loc_s2c_x76" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x76" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Reinsurers other than SPV and finite reinsurance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x76" xlink:to="label_s2c_x76" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x80" xlink:label="loc_s2c_x80" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x80" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Special purpose vehicle [SPV]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x80" xlink:to="label_s2c_x80" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x83" xlink:label="loc_s2c_x83" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x83" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">SPV [incorporated]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x83" xlink:to="label_s2c_x83" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x84" xlink:label="loc_s2c_x84" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x84" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">SPV [not incorporated]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x84" xlink:to="label_s2c_x84" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/4" xlink:type="simple" xlink:href="hier.xsd#s2c_4" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/4">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x0" xlink:label="loc_s2c_x0" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x0" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Total/NA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x0" xlink:to="label_s2c_x0" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x9" xlink:label="loc_s2c_x9" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x9" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Composite insurer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x9" xlink:to="label_s2c_x9" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x17" xlink:label="loc_s2c_x17" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x17" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Credit institutions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x17" xlink:to="label_s2c_x17" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x24" xlink:label="loc_s2c_x24" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x24" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">External reinsurer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x24" xlink:to="label_s2c_x24" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x39" xlink:label="loc_s2c_x39" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x39" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Insurance counterparties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x39" xlink:to="label_s2c_x39" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x43" xlink:label="loc_s2c_x43" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x43" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Insurance/reinsurance counterparties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x43" xlink:to="label_s2c_x43" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x46" xlink:label="loc_s2c_x46" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x46" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Internal reinsurer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x46" xlink:to="label_s2c_x46" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x49" xlink:label="loc_s2c_x49" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x49" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Life insurer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x49" xlink:to="label_s2c_x49" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x57" xlink:label="loc_s2c_x57" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x57" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Non-life insurer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x57" xlink:to="label_s2c_x57" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x67" xlink:label="loc_s2c_x67" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x67" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Other than insurance/reinsurance undertakings and credit institutions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x67" xlink:to="label_s2c_x67" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x69" xlink:label="loc_s2c_x69" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x69" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Pool entity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x69" xlink:to="label_s2c_x69" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x73" xlink:label="loc_s2c_x73" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x73" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Reinsurance captive</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x73" xlink:to="label_s2c_x73" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x74" xlink:label="loc_s2c_x74" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x74" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Reinsurance counterparties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x74" xlink:to="label_s2c_x74" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x80" xlink:label="loc_s2c_x80" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x80" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Special purpose vehicle [SPV]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x80" xlink:to="label_s2c_x80" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/5" xlink:type="simple" xlink:href="hier.xsd#s2c_5" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/5">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x0" xlink:label="loc_s2c_x0" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x0" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Total/NA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x0" xlink:to="label_s2c_x0" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x16" xlink:label="loc_s2c_x16" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x16" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Credit institutions, investment firms, financial institutions, alternative investment fund managers, UCITS management companies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x16" xlink:to="label_s2c_x16" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x21" xlink:label="loc_s2c_x21" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x21" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Entities carrying out financial activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x21" xlink:to="label_s2c_x21" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x22" xlink:label="loc_s2c_x22" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x22" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Entities not carrying out financial activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x22" xlink:to="label_s2c_x22" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x37" xlink:label="loc_s2c_x37" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x37" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Institutions for occupational retirement provision</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x37" xlink:to="label_s2c_x37" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x44" xlink:label="loc_s2c_x44" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x44" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Insurance/reinsurance sector</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x44" xlink:to="label_s2c_x44" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x55" xlink:label="loc_s2c_x55" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x55" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Non regulated entities carrying out financial activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x55" xlink:to="label_s2c_x55" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x65" xlink:label="loc_s2c_x65" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x65" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Other than insurance/reinsurance sector</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x65" xlink:to="label_s2c_x65" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/6" xlink:type="simple" xlink:href="hier.xsd#s2c_6" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/6">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x0" xlink:label="loc_s2c_x0" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x0" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Total/NA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x0" xlink:to="label_s2c_x0" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x5" xlink:label="loc_s2c_x5" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x5" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Automobiles and Components</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x5" xlink:to="label_s2c_x5" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x6" xlink:label="loc_s2c_x6" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x6" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Banks</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x6" xlink:to="label_s2c_x6" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x7" xlink:label="loc_s2c_x7" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x7" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Capital Goods</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x7" xlink:to="label_s2c_x7" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x8" xlink:label="loc_s2c_x8" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x8" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Commercial &amp; Professional Services</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x8" xlink:to="label_s2c_x8" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x11" xlink:label="loc_s2c_x11" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x11" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Consumer Durables and Apparel</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x11" xlink:to="label_s2c_x11" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x12" xlink:label="loc_s2c_x12" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x12" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Consumer Services</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x12" xlink:to="label_s2c_x12" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x19" xlink:label="loc_s2c_x19" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x19" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Diversified Financials</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x19" xlink:to="label_s2c_x19" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x20" xlink:label="loc_s2c_x20" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x20" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Energy</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x20" xlink:to="label_s2c_x20" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x28" xlink:label="loc_s2c_x28" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x28" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Food &amp; Staples Retailing</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x28" xlink:to="label_s2c_x28" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x29" xlink:label="loc_s2c_x29" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x29" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Food, Beverage &amp; Tobacco</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x29" xlink:to="label_s2c_x29" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x32" xlink:label="loc_s2c_x32" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x32" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Health Care Equipment &amp; Services</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x32" xlink:to="label_s2c_x32" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x33" xlink:label="loc_s2c_x33" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x33" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Household &amp; Personal Products</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x33" xlink:to="label_s2c_x33" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x38" xlink:label="loc_s2c_x38" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x38" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Insurance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x38" xlink:to="label_s2c_x38" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x50" xlink:label="loc_s2c_x50" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x50" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Materials</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x50" xlink:to="label_s2c_x50" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x68" xlink:label="loc_s2c_x68" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x68" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Pharmaceuticals, Biotechnology &amp; Life Sciences</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x68" xlink:to="label_s2c_x68" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x71" xlink:label="loc_s2c_x71" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x71" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Real Estate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x71" xlink:to="label_s2c_x71" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x77" xlink:label="loc_s2c_x77" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x77" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Retailing</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x77" xlink:to="label_s2c_x77" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x78" xlink:label="loc_s2c_x78" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x78" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Semiconductors &amp; Semiconductor Equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x78" xlink:to="label_s2c_x78" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x79" xlink:label="loc_s2c_x79" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x79" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Software &amp; Services</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x79" xlink:to="label_s2c_x79" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x85" xlink:label="loc_s2c_x85" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x85" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Technology Hardware &amp; Equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x85" xlink:to="label_s2c_x85" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x86" xlink:label="loc_s2c_x86" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x86" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Telecommunication Services</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x86" xlink:to="label_s2c_x86" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x88" xlink:label="loc_s2c_x88" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x88" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Transportation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x88" xlink:to="label_s2c_x88" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x89" xlink:label="loc_s2c_x89" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x89" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Utilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x89" xlink:to="label_s2c_x89" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x91" xlink:label="loc_s2c_x91" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x91" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Sovereign</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x91" xlink:to="label_s2c_x91" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x92" xlink:label="loc_s2c_x92" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x92" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Supranational</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x92" xlink:to="label_s2c_x92" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x123" xlink:label="loc_s2c_x123" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x123" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Contribution to the group</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x123" xlink:to="label_s2c_x123" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/7" xlink:type="simple" xlink:href="hier.xsd#s2c_7" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/7">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x0" xlink:label="loc_s2c_x0" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x0" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Total/NA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x0" xlink:to="label_s2c_x0" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x3" xlink:label="loc_s2c_x3" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x3" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Ancillary services undertaking as defined in Article 1 (53) of Delegated Regulation (EU) 2015/35</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x3" xlink:to="label_s2c_x3" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x9" xlink:label="loc_s2c_x9" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x9" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Composite insurer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x9" xlink:to="label_s2c_x9" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x16" xlink:label="loc_s2c_x16" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x16" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Credit institutions, investment firms, financial institutions, alternative investment fund managers, UCITS management companies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x16" xlink:to="label_s2c_x16" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x37" xlink:label="loc_s2c_x37" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x37" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Institutions for occupational retirement provision</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x37" xlink:to="label_s2c_x37" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x41" xlink:label="loc_s2c_x41" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x41" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Insurance holding company as defined in Art. 212§ [f] of Directive 2009/138/EC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x41" xlink:to="label_s2c_x41" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x49" xlink:label="loc_s2c_x49" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x49" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Life insurer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x49" xlink:to="label_s2c_x49" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x52" xlink:label="loc_s2c_x52" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x52" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Mixed-activity insurance holding company as defined in Art. 212§1 [g] of Directive 2009/138/EC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x52" xlink:to="label_s2c_x52" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x57" xlink:label="loc_s2c_x57" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x57" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Non-life insurer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x57" xlink:to="label_s2c_x57" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x60" xlink:label="loc_s2c_x60" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x60" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Non-regulated undertaking carrying out financial activities as defined in Article 1 (52) of Delegated Regulation (EU) 2015/35</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x60" xlink:to="label_s2c_x60" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x81" xlink:label="loc_s2c_x81" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x81" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Special purpose vehicle authorized in accordance with Art. 211 of Directive 2009/138/EC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x81" xlink:to="label_s2c_x81" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x82" xlink:label="loc_s2c_x82" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x82" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Special purpose vehicle other special purpose vehicle authorized in accordance with Art. 211 of Directive 2009/138/EC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x82" xlink:to="label_s2c_x82" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x93" xlink:label="loc_s2c_x93" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x93" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x93" xlink:to="label_s2c_x93" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x94" xlink:label="loc_s2c_x94" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x94" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Mixed financial holding company as defined in Art. 212§1 [h] of Directive 2009/138/EC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x94" xlink:to="label_s2c_x94" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/8" xlink:type="simple" xlink:href="hier.xsd#s2c_8" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/8">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x54" xlink:label="loc_s2c_x54" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x54" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">1 - Mutual</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x54" xlink:to="label_s2c_x54" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x58" xlink:label="loc_s2c_x58" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x58" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">2 - Non-mutual</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x58" xlink:to="label_s2c_x58" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/10" xlink:type="simple" xlink:href="hier.xsd#s2c_10" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/10">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x0" xlink:label="loc_s2c_x0" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x0" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Total/NA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x0" xlink:to="label_s2c_x0" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x2" xlink:label="loc_s2c_x2" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x2" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Ancillary services</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x2" xlink:to="label_s2c_x2" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x25" xlink:label="loc_s2c_x25" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x25" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Financial and credit institutions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x25" xlink:to="label_s2c_x25" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x40" xlink:label="loc_s2c_x40" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x40" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Insurance holding company</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x40" xlink:to="label_s2c_x40" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x42" xlink:label="loc_s2c_x42" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x42" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Insurance/Reinsurance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x42" xlink:to="label_s2c_x42" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x59" xlink:label="loc_s2c_x59" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x59" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Non-regulated financial</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x59" xlink:to="label_s2c_x59" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x61" xlink:label="loc_s2c_x61" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x61" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Other than financial and credit institutions, insurance/reinsurance, third-country re-insurance, insurance holding company, ancillary services and non-regulated financial</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x61" xlink:to="label_s2c_x61" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x62" xlink:label="loc_s2c_x62" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x62" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Other than financial and credit institutions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x62" xlink:to="label_s2c_x62" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x87" xlink:label="loc_s2c_x87" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x87" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Third-country re-insurance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x87" xlink:to="label_s2c_x87" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/11" xlink:type="simple" xlink:href="hier.xsd#s2c_11" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/11">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x0" xlink:label="loc_s2c_x0" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x0" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Total/NA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x0" xlink:to="label_s2c_x0" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x10" xlink:label="loc_s2c_x10" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x10" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Undertakings pursuing both life and non-life insurance activity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x10" xlink:to="label_s2c_x10" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x56" xlink:label="loc_s2c_x56" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x56" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Non-composite undertaking</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x56" xlink:to="label_s2c_x56" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/12" xlink:type="simple" xlink:href="hier.xsd#s2c_12" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/12">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x0" xlink:label="loc_s2c_x0" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x0" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Total/NA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x0" xlink:to="label_s2c_x0" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x17" xlink:label="loc_s2c_x17" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x17" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Credit institutions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x17" xlink:to="label_s2c_x17" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x90" xlink:label="loc_s2c_x90" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x90" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Other than credit institutions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x90" xlink:to="label_s2c_x90" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/13" xlink:type="simple" xlink:href="hier.xsd#s2c_13" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/13">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x10" xlink:label="loc_s2c_x10" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x10" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">1 - Undertakings pursuing both life and non-life insurance activity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x10" xlink:to="label_s2c_x10" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x95" xlink:label="loc_s2c_x95" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x95" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">2 - Life undertakings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x95" xlink:to="label_s2c_x95" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x96" xlink:label="loc_s2c_x96" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x96" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">3 - Non-Life undertakings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x96" xlink:to="label_s2c_x96" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/14" xlink:type="simple" xlink:href="hier.xsd#s2c_14" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/14">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x24" xlink:label="loc_s2c_x24" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x24" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">6 - External reinsurer (reinsurance undertaking that takes risks from undertakings other than from insurance undertakings within the group)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x24" xlink:to="label_s2c_x24" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x46" xlink:label="loc_s2c_x46" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x46" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">5 - Internal reinsurer (reinsurance undertaking which primary focus is to take risk from other insurance undertakings within the group)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x46" xlink:to="label_s2c_x46" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x69" xlink:label="loc_s2c_x69" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x69" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">9 - Pool entity (where more than one insurance or reinsurance undertakings are involved)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x69" xlink:to="label_s2c_x69" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x73" xlink:label="loc_s2c_x73" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x73" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">7 - Captive reinsurance undertaking</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x73" xlink:to="label_s2c_x73" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x80" xlink:label="loc_s2c_x80" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x80" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">8 - Special purpose vehicle</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x80" xlink:to="label_s2c_x80" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x97" xlink:label="loc_s2c_x97" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x97" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">1 - Direct Life insurer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x97" xlink:to="label_s2c_x97" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x98" xlink:label="loc_s2c_x98" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x98" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">2 - Direct Non-life insurer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x98" xlink:to="label_s2c_x98" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x99" xlink:label="loc_s2c_x99" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x99" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">3 - Direct Composite insurer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x99" xlink:to="label_s2c_x99" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x100" xlink:label="loc_s2c_x100" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x100" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">4 - Captive insurance undertaking</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x100" xlink:to="label_s2c_x100" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x101" xlink:label="loc_s2c_x101" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x101" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">10 - State pool</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x101" xlink:to="label_s2c_x101" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/15" xlink:type="simple" xlink:href="hier.xsd#s2c_15" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/15">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x3" xlink:label="loc_s2c_x3" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x3" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">10 - Ancillary services undertaking as defined in Article 1 (53) of Delegated Regulation (EU) 2015/35</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x3" xlink:to="label_s2c_x3" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x9" xlink:label="loc_s2c_x9" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x9" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">4 - Composite undertaking</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x9" xlink:to="label_s2c_x9" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x37" xlink:label="loc_s2c_x37" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x37" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">9 - Institution for occupational retirement provision</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x37" xlink:to="label_s2c_x37" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x41" xlink:label="loc_s2c_x41" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x41" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">5 - Insurance holding company as defined in Article 212(1) (f) of Directive 2009/138/EC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x41" xlink:to="label_s2c_x41" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x49" xlink:label="loc_s2c_x49" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x49" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">1 - Life insurance undertaking</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x49" xlink:to="label_s2c_x49" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x52" xlink:label="loc_s2c_x52" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x52" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">6 - Mixed-activity insurance holding company as defined in Article 212(1) (g) of Directive 2009/138/EC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x52" xlink:to="label_s2c_x52" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x57" xlink:label="loc_s2c_x57" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x57" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">2 - Non life insurance undertaking</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x57" xlink:to="label_s2c_x57" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x60" xlink:label="loc_s2c_x60" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x60" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">11 - Non-regulated undertaking carrying out financial activities as defined in Article 1 (52) of Delegated Regulation (EU) 2015/35</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x60" xlink:to="label_s2c_x60" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x81" xlink:label="loc_s2c_x81" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x81" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">12 - Special purpose vehicle authorized in accordance with Article 211 of Directive 2009/138/EC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x81" xlink:to="label_s2c_x81" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x82" xlink:label="loc_s2c_x82" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x82" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">13 - Special purpose vehicle other than special purpose vehicle authorized in accordance with Art. 211 of Directive 2009/138/EC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x82" xlink:to="label_s2c_x82" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x93" xlink:label="loc_s2c_x93" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x93" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">99 - Other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x93" xlink:to="label_s2c_x93" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x94" xlink:label="loc_s2c_x94" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x94" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">7 -Mixed financial holding company as defined in Article 212 (1)(h) of Directive 2009/138/EC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x94" xlink:to="label_s2c_x94" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x102" xlink:label="loc_s2c_x102" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x102" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">3 - Reinsurance undertaking</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x102" xlink:to="label_s2c_x102" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x103" xlink:label="loc_s2c_x103" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x103" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">14 - UCITS management companies as defined in Article 1 (54) of Delegated Regulation (EU) 2015/35</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x103" xlink:to="label_s2c_x103" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x124" xlink:label="loc_s2c_x124" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x124" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">15 - Alternative investment funds managers as defined in Article 1 (55) of Delegated Regulation (EU) 2015/35</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x124" xlink:to="label_s2c_x124" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x125" xlink:label="loc_s2c_x125" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x125" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">8 - Credit institution, investment firm and financial institution</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x125" xlink:to="label_s2c_x125" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/16" xlink:type="simple" xlink:href="hier.xsd#s2c_16" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/16">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x105" xlink:label="loc_s2c_x105" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x105" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">1 - SPV fully funded in relation to cedant obligations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x105" xlink:to="label_s2c_x105" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x106" xlink:label="loc_s2c_x106" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x106" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">2 - SPV not fully funded in relation to cedant obligations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x106" xlink:to="label_s2c_x106" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/17" xlink:type="simple" xlink:href="hier.xsd#s2c_17" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/17">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x107" xlink:label="loc_s2c_x107" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x107" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">1 - Trusts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x107" xlink:to="label_s2c_x107" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x108" xlink:label="loc_s2c_x108" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x108" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">2 - Partnerships</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x108" xlink:to="label_s2c_x108" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x109" xlink:label="loc_s2c_x109" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x109" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">3 - Limited liability companies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x109" xlink:to="label_s2c_x109" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x110" xlink:label="loc_s2c_x110" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x110" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">4 - Other legal entity form not referred above</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x110" xlink:to="label_s2c_x110" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x111" xlink:label="loc_s2c_x111" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x111" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">5 - Not incorporated</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x111" xlink:to="label_s2c_x111" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/18" xlink:type="simple" xlink:href="hier.xsd#s2c_18" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/18">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x112" xlink:label="loc_s2c_x112" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x112" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">1 - central bank (ESA 2010 sector S.121)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x112" xlink:to="label_s2c_x112" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x113" xlink:label="loc_s2c_x113" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x113" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">2 - deposit-taking corporations except the central bank (ESA sector S.122)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x113" xlink:to="label_s2c_x113" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x114" xlink:label="loc_s2c_x114" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x114" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">3 - money market funds (ESA sector S.123)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x114" xlink:to="label_s2c_x114" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x115" xlink:label="loc_s2c_x115" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x115" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">4 - investment funds except money market funds (ESA sector S.124)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x115" xlink:to="label_s2c_x115" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x116" xlink:label="loc_s2c_x116" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x116" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">5 - other financial intermediaries, except insurance corporations and pension funds (excluding financial vehicle corporations engaged in securitisation transactions) + financial auxiliaries + captive financial institutions and money lenders (ESA sector S.125 excluding FVCs + ESA sector S.126 + ESA sector S.127)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x116" xlink:to="label_s2c_x116" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x117" xlink:label="loc_s2c_x117" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x117" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">6 - financial vehicle corporations engaged in securitisation transactions (a subdivision of ESA sector S.125)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x117" xlink:to="label_s2c_x117" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x118" xlink:label="loc_s2c_x118" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x118" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">7 - insurance corporations (ESA sector S.128)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x118" xlink:to="label_s2c_x118" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x119" xlink:label="loc_s2c_x119" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x119" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">8 - pension funds (ESA sector S.129)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x119" xlink:to="label_s2c_x119" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x120" xlink:label="loc_s2c_x120" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x120" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">9 - non-financial corporations (ESA sector S.11)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x120" xlink:to="label_s2c_x120" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x121" xlink:label="loc_s2c_x121" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x121" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">10 - general government (ESA sector S.13)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x121" xlink:to="label_s2c_x121" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x122" xlink:label="loc_s2c_x122" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x122" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">11 - households and non-profit institutions serving households (ESA sector S.14 + ESA sector S.15)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x122" xlink:to="label_s2c_x122" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/19" xlink:type="simple" xlink:href="hier.xsd#s2c_19" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/19">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x0" xlink:label="loc_s2c_x0" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x0" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Total/NA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x0" xlink:to="label_s2c_x0" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x16" xlink:label="loc_s2c_x16" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x16" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Credit institutions, investment firms, financial institutions, alternative investment fund managers, UCITS management companies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x16" xlink:to="label_s2c_x16" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x21" xlink:label="loc_s2c_x21" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x21" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Entities carrying out financial activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x21" xlink:to="label_s2c_x21" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x22" xlink:label="loc_s2c_x22" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x22" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Entities not carrying out financial activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x22" xlink:to="label_s2c_x22" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x37" xlink:label="loc_s2c_x37" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x37" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Institutions for occupational retirement provision</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x37" xlink:to="label_s2c_x37" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x44" xlink:label="loc_s2c_x44" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x44" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Insurance/reinsurance sector</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x44" xlink:to="label_s2c_x44" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x55" xlink:label="loc_s2c_x55" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x55" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Non regulated entities carrying out financial activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x55" xlink:to="label_s2c_x55" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x126" xlink:label="loc_s2c_x126" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x126" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Insurance/reinsurance sector and entities not carrying out financial activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x126" xlink:to="label_s2c_x126" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/20" xlink:type="simple" xlink:href="hier.xsd#s2c_20" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/20">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x0" xlink:label="loc_s2c_x0" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x0" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Total/NA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x0" xlink:to="label_s2c_x0" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x16" xlink:label="loc_s2c_x16" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x16" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Credit institutions, investment firms, financial institutions, alternative investment fund managers, UCITS management companies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x16" xlink:to="label_s2c_x16" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x22" xlink:label="loc_s2c_x22" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x22" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Entities not carrying out financial activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x22" xlink:to="label_s2c_x22" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x37" xlink:label="loc_s2c_x37" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x37" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Institutions for occupational retirement provision</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x37" xlink:to="label_s2c_x37" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x44" xlink:label="loc_s2c_x44" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x44" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Insurance/reinsurance sector</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x44" xlink:to="label_s2c_x44" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x55" xlink:label="loc_s2c_x55" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x55" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Non regulated entities carrying out financial activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x55" xlink:to="label_s2c_x55" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x127" xlink:label="loc_s2c_x127" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x127" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Regulated entities [other than insurance/reinsurance sector] carrying out financial activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x127" xlink:to="label_s2c_x127" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x128" xlink:label="loc_s2c_x128" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x128" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Insurance/reinsurance sector, non regulated entities carrying out financial activities and entities not carrying out financial activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x128" xlink:to="label_s2c_x128" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/21" xlink:type="simple" xlink:href="hier.xsd#s2c_21" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/21">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x75" xlink:label="loc_s2c_x75" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x75" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">6 - Reinsurance undertakings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x75" xlink:to="label_s2c_x75" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x95" xlink:label="loc_s2c_x95" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x95" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">2 - Life undertakings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x95" xlink:to="label_s2c_x95" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x96" xlink:label="loc_s2c_x96" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x96" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">3 - Non-Life undertakings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x96" xlink:to="label_s2c_x96" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x129" xlink:label="loc_s2c_x129" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x129" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">4 - Undertakings pursuing both life and non-life insurance activity - article 73 (2)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x129" xlink:to="label_s2c_x129" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x130" xlink:label="loc_s2c_x130" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x130" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">5 - Undertakings pursuing both life and non-life insurance activity - article 73 (5)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x130" xlink:to="label_s2c_x130" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/22" xlink:type="simple" xlink:href="hier.xsd#s2c_22" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/22">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x95" xlink:label="loc_s2c_x95" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x95" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">2 - Life branch</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x95" xlink:to="label_s2c_x95" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x96" xlink:label="loc_s2c_x96" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x96" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">3 - Non-Life branch</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x96" xlink:to="label_s2c_x96" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x129" xlink:label="loc_s2c_x129" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x129" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">4 - Branches pursuing both life and non-life insurance activity - article 73 (2)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x129" xlink:to="label_s2c_x129" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x130" xlink:label="loc_s2c_x130" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x130" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">5 - Branches pursuing both life and non-life insurance activity - article 73 (5)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x130" xlink:to="label_s2c_x130" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/23" xlink:type="simple" xlink:href="hier.xsd#s2c_23" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/23">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x3" xlink:label="loc_s2c_x3" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x3" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">10 - Ancillary services undertaking as defined in Article 1 (53) of Delegated Regulation (EU) 2015/35</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x3" xlink:to="label_s2c_x3" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x9" xlink:label="loc_s2c_x9" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x9" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">4 - Composite undertaking</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x9" xlink:to="label_s2c_x9" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x37" xlink:label="loc_s2c_x37" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x37" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">9 - Institution for occupational retirement provision</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x37" xlink:to="label_s2c_x37" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x41" xlink:label="loc_s2c_x41" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x41" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">5 - Insurance holding company as defined in Article 212(1) (f) of Directive 2009/138/EC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x41" xlink:to="label_s2c_x41" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x52" xlink:label="loc_s2c_x52" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x52" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">6 - Mixed-activity insurance holding company as defined in Article 212(1) (g) of Directive 2009/138/EC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x52" xlink:to="label_s2c_x52" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x60" xlink:label="loc_s2c_x60" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x60" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">11 - Non-regulated undertaking carrying out financial activities as defined in Article 1 (52) of Delegated Regulation (EU) 2015/35</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x60" xlink:to="label_s2c_x60" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x75" xlink:label="loc_s2c_x75" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x75" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">3 - Reinsurance undertaking</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x75" xlink:to="label_s2c_x75" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x81" xlink:label="loc_s2c_x81" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x81" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">12 - Special purpose vehicle authorized in accordance with Article 211 of Directive 2009/138/EC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x81" xlink:to="label_s2c_x81" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x82" xlink:label="loc_s2c_x82" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x82" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">13 - Special purpose vehicle other than special purpose vehicle authorized in accordance with Art. 211 of Directive 2009/138/EC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x82" xlink:to="label_s2c_x82" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x93" xlink:label="loc_s2c_x93" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x93" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">99 - Other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x93" xlink:to="label_s2c_x93" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x94" xlink:label="loc_s2c_x94" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x94" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">7 -Mixed financial holding company as defined in Article 212 (1)(h) of Directive 2009/138/EC</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x94" xlink:to="label_s2c_x94" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x95" xlink:label="loc_s2c_x95" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x95" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">1 - Life insurance undertaking</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x95" xlink:to="label_s2c_x95" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x96" xlink:label="loc_s2c_x96" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x96" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">2 - Non life insurance undertaking</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x96" xlink:to="label_s2c_x96" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x103" xlink:label="loc_s2c_x103" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x103" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">14 - UCITS management companies as defined in Article 1 (54) of Delegated Regulation (EU) 2015/35</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x103" xlink:to="label_s2c_x103" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x124" xlink:label="loc_s2c_x124" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x124" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">15 - Alternative investment funds managers as defined in Article 1 (55) of Delegated Regulation (EU) 2015/35</link:label>
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    <link:label xlink:type="resource" xlink:label="label_s2c_x131" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Scope Hamburg GmbH (previously Euler Hermes Rating GmbH) (LEI code: 391200QXGLWHK9VK6V27)</link:label>
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    <link:label xlink:type="resource" xlink:label="label_s2c_x132" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Japan Credit Rating Agency Ltd (LEI code: 35380002378CEGMRVW86)</link:label>
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    <link:label xlink:type="resource" xlink:label="label_s2c_x133" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">BCRA-Credit Rating Agency AD (LEI code: 747800Z0IC3P66HTQ142)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x133" xlink:to="label_s2c_x133" />
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    <link:label xlink:type="resource" xlink:label="label_s2c_x134" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Creditreform Rating AG (LEI code: 391200PHL11KDUTTST66)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x134" xlink:to="label_s2c_x134" />
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    <link:label xlink:type="resource" xlink:label="label_s2c_x135" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Scope Ratings GmbH (previously Scope Ratings AG and PSR Rating GmbH)(LEI code: 391200WU1EZUQFHDWE91)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x135" xlink:to="label_s2c_x135" />
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    <link:label xlink:type="resource" xlink:label="label_s2c_x136" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">ICAP SA (LEI code: 2138008U6LKT8VG2UK85)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x136" xlink:to="label_s2c_x136" />
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    <link:label xlink:type="resource" xlink:label="label_s2c_x137" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">GBB-Rating Gesellschaft für Bonitätsbeurteilung GmbH (LEI code: 391200OLWXCTKPADVV72)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x137" xlink:to="label_s2c_x137" />
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    <link:label xlink:type="resource" xlink:label="label_s2c_x138" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">ASSEKURATA Assekuranz Rating-Agentur GmbH (LEI code: 529900977LETWLJF3295)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x138" xlink:to="label_s2c_x138" />
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    <link:label xlink:type="resource" xlink:label="label_s2c_x139" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">ARC Ratings, S.A. (previously Companhia Portuguesa de Rating, S.A) (LEI code: 213800OZNJQMV6UA7D79)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x139" xlink:to="label_s2c_x139" />
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    <link:label xlink:type="resource" xlink:label="label_s2c_x140" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">AM Best Europe-Rating Services Ltd. (AMBERS) (LEI code: 549300VO8J8E5IQV1T26)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x140" xlink:to="label_s2c_x140" />
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    <link:label xlink:type="resource" xlink:label="label_s2c_x141" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">DBRS Ratings Limited (LEI code: 5493008CGCDQLGT3EH93)</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x142" xlink:to="label_s2c_x142" />
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    <link:label xlink:type="resource" xlink:label="label_s2c_x143" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Deutschland GmbH (LEI code: 213800JEMOT1H45VN340)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x143" xlink:to="label_s2c_x143" />
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    <link:label xlink:type="resource" xlink:label="label_s2c_x144" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Italia S.p.A. (LEI code: 213800POJ9QSCHL3KR31)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x144" xlink:to="label_s2c_x144" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x145" xlink:label="loc_s2c_x145" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x145" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Polska S.A. (LEI code: 213800RYJTJPW2WD5704)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x145" xlink:to="label_s2c_x145" />
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    <link:label xlink:type="resource" xlink:label="label_s2c_x146" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Ratings España S.A.U. (LEI code: 213800RENFIIODKETE60)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x146" xlink:to="label_s2c_x146" />
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    <link:label xlink:type="resource" xlink:label="label_s2c_x147" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Ratings Limited (LEI code: 2138009F8YAHVC8W3Q52)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x147" xlink:to="label_s2c_x147" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x148" xlink:label="loc_s2c_x148" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x148" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Ratings CIS Limited (LEI code: 213800B7528Q4DIF2G76)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x148" xlink:to="label_s2c_x148" />
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    <link:label xlink:type="resource" xlink:label="label_s2c_x149" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service Cyprus Ltd (LEI code: 549300V4LCOYCMNUVR81)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x149" xlink:to="label_s2c_x149" />
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    <link:label xlink:type="resource" xlink:label="label_s2c_x150" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s France S.A.S. (LEI code: 549300EB2XQYRSE54F02)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x150" xlink:to="label_s2c_x150" />
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    <link:label xlink:type="resource" xlink:label="label_s2c_x151" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Deutschland GmbH (LEI code: 549300M5JMGHVTWYZH47)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x151" xlink:to="label_s2c_x151" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x152" xlink:label="loc_s2c_x152" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x152" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Italia S.r.l. (LEI code: 549300GMXJ4QK70UOU68)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x152" xlink:to="label_s2c_x152" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x153" xlink:label="loc_s2c_x153" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x153" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service España S.A. (LEI code: 5493005X59ILY4BGJK90)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x153" xlink:to="label_s2c_x153" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x154" xlink:label="loc_s2c_x154" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x154" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service Ltd (LEI code: 549300SM89WABHDNJ349)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x154" xlink:to="label_s2c_x154" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x155" xlink:label="loc_s2c_x155" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x155" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">S&amp;P Global Ratings France SAS (LEI code: 54930035REY2YCDSBH09)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x155" xlink:to="label_s2c_x155" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x156" xlink:label="loc_s2c_x156" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x156" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">S&amp;P Global Ratings Italy S.R.L. (LEI code: 54930000NMOJ7ZBUQ063)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x156" xlink:to="label_s2c_x156" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x157" xlink:label="loc_s2c_x157" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x157" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Standard &amp; Poor’s Credit Market Services Europe Limited (LEI code: 549300363WVTTH0TW460)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x157" xlink:to="label_s2c_x157" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x158" xlink:label="loc_s2c_x158" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x158" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">CRIF Ratings S.r.l. (previously CRIF S.p.a.) (LEI code: 8156001AB6A1D740F237)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x158" xlink:to="label_s2c_x158" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x159" xlink:label="loc_s2c_x159" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x159" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Capital Intelligence Ratings Ltd (LEI code: 549300RE88OJP9J24Z18)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x159" xlink:to="label_s2c_x159" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x160" xlink:label="loc_s2c_x160" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x160" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">European Rating Agency, a.s. (LEI code: 097900BFME0000038276)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x160" xlink:to="label_s2c_x160" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x161" xlink:label="loc_s2c_x161" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x161" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Axesor conocer para decidir SA (LEI code: 95980020140005900000)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x161" xlink:to="label_s2c_x161" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x162" xlink:label="loc_s2c_x162" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x162" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Cerved Rating Agency S.p.A. (previously CERVED Group S.p.A. ) (LEI code: 8156004AB6C992A99368)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x162" xlink:to="label_s2c_x162" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x163" xlink:label="loc_s2c_x163" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x163" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Kroll Bond Rating Agency (LEI code: 549300QYZ5CZYXTNZ676)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x163" xlink:to="label_s2c_x163" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x164" xlink:label="loc_s2c_x164" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x164" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">The Economist Intelligence Unit Ltd (LEI code: 213800Q7GRZWF95EWN10)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x164" xlink:to="label_s2c_x164" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x165" xlink:label="loc_s2c_x165" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x165" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Dagong Europe Credit Rating Srl (Dagong Europe) (LEI code: 815600BF4FF53B7C6311)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x165" xlink:to="label_s2c_x165" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x166" xlink:label="loc_s2c_x166" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x166" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">QIVALIO SAS (previously Spread Research) (LEI code: 969500HB6BVM2UJDOC52)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x166" xlink:to="label_s2c_x166" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x167" xlink:label="loc_s2c_x167" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x167" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">EuroRating Sp. z o.o. (LEI code: 25940027QWS5GMO74O03)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x167" xlink:to="label_s2c_x167" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x168" xlink:label="loc_s2c_x168" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x168" xlink:to="label_s2c_x168" />
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    <link:label xlink:type="resource" xlink:label="label_s2c_x135" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Scope Ratings GmbH (previously Scope Ratings AG and PSR Rating GmbH)(LEI code: 391200WU1EZUQFHDWE91)</link:label>
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    <link:label xlink:type="resource" xlink:label="label_s2c_x139" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">ARC Ratings, S.A. (previously Companhia Portuguesa de Rating, S.A) (LEI code: 213800OZNJQMV6UA7D79)</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x146" xlink:to="label_s2c_x146" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x147" xlink:to="label_s2c_x147" />
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    <link:label xlink:type="resource" xlink:label="label_s2c_x148" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Ratings CIS Limited (LEI code: 213800B7528Q4DIF2G76)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x148" xlink:to="label_s2c_x148" />
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    <link:label xlink:type="resource" xlink:label="label_s2c_x149" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service Cyprus Ltd (LEI code: 549300V4LCOYCMNUVR81)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x149" xlink:to="label_s2c_x149" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x152" xlink:to="label_s2c_x152" />
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    <link:label xlink:type="resource" xlink:label="label_s2c_x153" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service España S.A. (LEI code: 5493005X59ILY4BGJK90)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x153" xlink:to="label_s2c_x153" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x154" xlink:label="loc_s2c_x154" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x154" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service Ltd (LEI code: 549300SM89WABHDNJ349)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x154" xlink:to="label_s2c_x154" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x155" xlink:label="loc_s2c_x155" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x155" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">S&amp;P Global Ratings France SAS (LEI code: 54930035REY2YCDSBH09)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x155" xlink:to="label_s2c_x155" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x156" xlink:label="loc_s2c_x156" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x156" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">S&amp;P Global Ratings Italy S.R.L. (LEI code: 54930000NMOJ7ZBUQ063)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x156" xlink:to="label_s2c_x156" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x157" xlink:label="loc_s2c_x157" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x157" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Standard &amp; Poor’s Credit Market Services Europe Limited (LEI code: 549300363WVTTH0TW460)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x157" xlink:to="label_s2c_x157" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x158" xlink:label="loc_s2c_x158" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x158" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">CRIF Ratings S.r.l. (previously CRIF S.p.a.) (LEI code: 8156001AB6A1D740F237)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x158" xlink:to="label_s2c_x158" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x159" xlink:label="loc_s2c_x159" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x159" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Capital Intelligence Ratings Ltd (LEI code: 549300RE88OJP9J24Z18)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x159" xlink:to="label_s2c_x159" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x160" xlink:label="loc_s2c_x160" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x160" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">European Rating Agency, a.s. (LEI code: 097900BFME0000038276)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x160" xlink:to="label_s2c_x160" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x161" xlink:label="loc_s2c_x161" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x161" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Axesor conocer para decidir SA (LEI code: 95980020140005900000)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x161" xlink:to="label_s2c_x161" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x162" xlink:label="loc_s2c_x162" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x162" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Cerved Rating Agency S.p.A. (previously CERVED Group S.p.A. ) (LEI code: 8156004AB6C992A99368)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x162" xlink:to="label_s2c_x162" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x163" xlink:label="loc_s2c_x163" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x163" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Kroll Bond Rating Agency (LEI code: 549300QYZ5CZYXTNZ676)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x163" xlink:to="label_s2c_x163" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x164" xlink:label="loc_s2c_x164" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x164" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">The Economist Intelligence Unit Ltd (LEI code: 213800Q7GRZWF95EWN10)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x164" xlink:to="label_s2c_x164" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x165" xlink:label="loc_s2c_x165" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x165" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Dagong Europe Credit Rating Srl (Dagong Europe) (LEI code: 815600BF4FF53B7C6311)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x165" xlink:to="label_s2c_x165" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x166" xlink:label="loc_s2c_x166" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x166" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">QIVALIO SAS (previously Spread Research) (LEI code: 969500HB6BVM2UJDOC52)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x166" xlink:to="label_s2c_x166" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x167" xlink:label="loc_s2c_x167" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x167" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">EuroRating Sp. z o.o. (LEI code: 25940027QWS5GMO74O03)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x167" xlink:to="label_s2c_x167" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x168" xlink:label="loc_s2c_x168" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x168" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">HR Ratings de México, S.A. de C.V. (HR Ratings) (LEI code: 549300IFL3XJKTRHZ480)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x168" xlink:to="label_s2c_x168" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x169" xlink:label="loc_s2c_x169" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x169" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service EMEA Ltd (LEI code: 54930009NU3JYS1HTT72)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x169" xlink:to="label_s2c_x169" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x170" xlink:label="loc_s2c_x170" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x170" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Egan-Jones Ratings Co. (EJR) (LEI code: 54930016113PD33V1H31)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x170" xlink:to="label_s2c_x170" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x171" xlink:label="loc_s2c_x171" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x171" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">modeFinance S.r.l. (LEI code: 815600B85A94A0122614)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x171" xlink:to="label_s2c_x171" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x172" xlink:label="loc_s2c_x172" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x172" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">INC Rating Sp. z o.o. (LEI code: 259400SUBF5EPOGK0983)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x172" xlink:to="label_s2c_x172" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x173" xlink:label="loc_s2c_x173" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x173" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Rating-Agentur Expert RA GmbH (LEI code: 213800P3OOBSGWN2UE81)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x173" xlink:to="label_s2c_x173" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x174" xlink:label="loc_s2c_x174" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x174" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Other nominated ECAI</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x174" xlink:to="label_s2c_x174" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x175" xlink:label="loc_s2c_x175" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x175" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Multiple ECAI</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x175" xlink:to="label_s2c_x175" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x176" xlink:label="loc_s2c_x176" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x176" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch (to be used when the split below is not available)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x176" xlink:to="label_s2c_x176" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x177" xlink:label="loc_s2c_x177" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x177" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s (to be used when the split below is not available)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x177" xlink:to="label_s2c_x177" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x178" xlink:label="loc_s2c_x178" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x178" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Standard &amp; Poor's (to be used when the split below is not available)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x178" xlink:to="label_s2c_x178" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x179" xlink:label="loc_s2c_x179" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x179" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">S&amp;P Global Ratings Europe Limited (previously S&amp;P Global Ratings Italy S.r.l, LEI 54930000NMOJ7ZBUQ063 - merger of 1 May 2018)(LEI code:5493008B2TU3S6QE1E12)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x179" xlink:to="label_s2c_x179" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x180" xlink:label="loc_s2c_x180" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x180" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Axesor Risk Management SL (LEI code: 959800EC2RH76JYS3844)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x180" xlink:to="label_s2c_x180" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x181" xlink:label="loc_s2c_x181" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x181" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Kroll Bond Rating Agency Europe Limited (LEI code: 5493001NGHOLC41ZSK05)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x181" xlink:to="label_s2c_x181" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x182" xlink:label="loc_s2c_x182" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x182" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">SPMW Rating Sp. z o.o. (LEI code: 259400PIF3W6YC660564)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x182" xlink:to="label_s2c_x182" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x190" xlink:label="loc_s2c_x190" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x190" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Ratings Ireland Limited (LEI code: 213800BTXUQP1JZRO283)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x190" xlink:to="label_s2c_x190" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x191" xlink:label="loc_s2c_x191" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x191" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Inbonis S.A. (LEI code: 875500OYQK8S5AGGBZ02)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x191" xlink:to="label_s2c_x191" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/500" xlink:type="simple" xlink:href="hier.xsd#s2c_500" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/500">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x0" xlink:label="loc_s2c_x0" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x0" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Total/NA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x0" xlink:to="label_s2c_x0" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x120" xlink:label="loc_s2c_x120" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x120" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Non-financial corporations (ESA sector S.11)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x120" xlink:to="label_s2c_x120" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x5000" xlink:label="loc_s2c_x5000" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x5000" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Corporations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x5000" xlink:to="label_s2c_x5000" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x5001" xlink:label="loc_s2c_x5001" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x5001" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Financial corporations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x5001" xlink:to="label_s2c_x5001" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x5002" xlink:label="loc_s2c_x5002" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x5002" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Other than corporations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x5002" xlink:to="label_s2c_x5002" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/600" xlink:type="simple" xlink:href="hier.xsd#s2c_600" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/600">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x0" xlink:label="loc_s2c_x0" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x0" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Total/NA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x0" xlink:to="label_s2c_x0" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x112" xlink:label="loc_s2c_x112" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x112" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Central bank (ESA 2010 sector S.121)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x112" xlink:to="label_s2c_x112" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x113" xlink:label="loc_s2c_x113" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x113" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Deposit-taking corporations except the central bank (ESA sector S.122)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x113" xlink:to="label_s2c_x113" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x114" xlink:label="loc_s2c_x114" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x114" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Money market funds (ESA sector S.123)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x114" xlink:to="label_s2c_x114" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x115" xlink:label="loc_s2c_x115" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x115" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Investment funds except money market funds (ESA sector S.124)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x115" xlink:to="label_s2c_x115" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x116" xlink:label="loc_s2c_x116" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x116" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Other financial intermediaries, except insurance corporations and pension funds (excluding financial vehicle corporations engaged in securitisation transactions) + financial auxiliaries + captive financial institutions and money lenders (ESA sector S.125 excluding FVCs + ESA sector S.126 + ESA sector S.127)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x116" xlink:to="label_s2c_x116" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x117" xlink:label="loc_s2c_x117" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x117" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Financial vehicle corporations engaged in securitisation transactions (a subdivision of ESA sector S.125)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x117" xlink:to="label_s2c_x117" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x118" xlink:label="loc_s2c_x118" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x118" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Insurance corporations (ESA sector S.128)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x118" xlink:to="label_s2c_x118" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x119" xlink:label="loc_s2c_x119" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x119" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Pension funds (ESA sector S.129)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x119" xlink:to="label_s2c_x119" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x120" xlink:label="loc_s2c_x120" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x120" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Non-financial corporations (ESA sector S.11)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x120" xlink:to="label_s2c_x120" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x121" xlink:label="loc_s2c_x121" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x121" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">General government (ESA sector S.13)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x121" xlink:to="label_s2c_x121" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x122" xlink:label="loc_s2c_x122" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x122" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Households and non-profit institutions serving households (ESA sector S.14 + ESA sector S.15)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x122" xlink:to="label_s2c_x122" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x6000" xlink:label="loc_s2c_x6000" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x6000" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Monetary financial institutions (MFIs)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x6000" xlink:to="label_s2c_x6000" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x6001" xlink:label="loc_s2c_x6001" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x6001" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Other financial intermediaries, except insurance corporations and pension funds + financial auxiliaries + captive financial institutions and money lenders (ESA sector S.125 + ESA sector S.126 + ESA sector S.127)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x6001" xlink:to="label_s2c_x6001" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x6002" xlink:label="loc_s2c_x6002" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x6002" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Other than Monetary financial institutions and General government</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x6002" xlink:to="label_s2c_x6002" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x6003" xlink:label="loc_s2c_x6003" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x6003" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Non Monetary financial institutions (Non-MFIs)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x6003" xlink:to="label_s2c_x6003" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/602" xlink:type="simple" xlink:href="hier.xsd#s2c_602" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/602">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x0" xlink:label="loc_s2c_x0" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x0" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Total/NA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x0" xlink:to="label_s2c_x0" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x112" xlink:label="loc_s2c_x112" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x112" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">1 - central bank (ESA 2010 sector S.121)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x112" xlink:to="label_s2c_x112" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x113" xlink:label="loc_s2c_x113" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x113" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">2 - deposit-taking corporations except the central bank (ESA 2010 sector S.122)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x113" xlink:to="label_s2c_x113" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x114" xlink:label="loc_s2c_x114" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x114" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">3 - money market funds (ESA 2010 sector S.123)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x114" xlink:to="label_s2c_x114" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x115" xlink:label="loc_s2c_x115" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x115" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">4 - investment funds other than money market funds (ESA 2010 sector S.124)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x115" xlink:to="label_s2c_x115" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x116" xlink:label="loc_s2c_x116" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x116" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">5 - other financial intermediaries, except insurance corporations and pension funds (excluding financial vehicle corporations engaged in securitisation transactions) + financial auxiliaries + captive financial institutions and money lenders (ESA 2010 sector S.125 excluding FVCs + ESA 2010 sector S.126 + ESA 2010 sector S.127)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x116" xlink:to="label_s2c_x116" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x117" xlink:label="loc_s2c_x117" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x117" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">6 - financial vehicle corporations engaged in securitisation transactions (a subdivision of ESA 2010 sector S.125)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x117" xlink:to="label_s2c_x117" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x118" xlink:label="loc_s2c_x118" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x118" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">7 - insurance corporations (ESA 2010 sector S.128)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x118" xlink:to="label_s2c_x118" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x119" xlink:label="loc_s2c_x119" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x119" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">8 - pension funds (ESA 2010 sector S.129)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x119" xlink:to="label_s2c_x119" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x120" xlink:label="loc_s2c_x120" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x120" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">9 - non-financial corporations (ESA 2010 sector S.11)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x120" xlink:to="label_s2c_x120" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x121" xlink:label="loc_s2c_x121" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x121" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">10 - general government (ESA 2010 sector S.13)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x121" xlink:to="label_s2c_x121" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x122" xlink:label="loc_s2c_x122" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x122" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">11 - households and non-profit institutions serving households (ESA 2010 sector S.14 + ESA 2010 sector S.15)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x122" xlink:to="label_s2c_x122" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x6000" xlink:label="loc_s2c_x6000" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x6000" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">12 - central bank (ESA 2010 sector S.121), deposit-taking corporations except the central bank (ESA 2010 sector S.122) and money market funds (ESA 2010 sector S.123)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x6000" xlink:to="label_s2c_x6000" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x6003" xlink:label="loc_s2c_x6003" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x6003" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">13 - non-MFIs, not included under 12</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x6003" xlink:to="label_s2c_x6003" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/26" xlink:type="simple" xlink:href="hier.xsd#s2c_26" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/26">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x131" xlink:label="loc_s2c_x131" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x131" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Scope Hamburg GmbH (LEI code: 391200QXGLWHK9VK6V27)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x131" xlink:to="label_s2c_x131" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x132" xlink:label="loc_s2c_x132" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x132" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Japan Credit Rating Agency Ltd (LEI code: 35380002378CEGMRVW86)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x132" xlink:to="label_s2c_x132" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x133" xlink:label="loc_s2c_x133" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x133" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">BCRA-Credit Rating Agency AD (LEI code: 747800Z0IC3P66HTQ142)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x133" xlink:to="label_s2c_x133" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x134" xlink:label="loc_s2c_x134" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x134" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Creditreform Rating AG (LEI code: 391200PHL11KDUTTST66)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x134" xlink:to="label_s2c_x134" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x135" xlink:label="loc_s2c_x135" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x135" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Scope Ratings GmbH (LEI code: 391200WU1EZUQFHDWE91)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x135" xlink:to="label_s2c_x135" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x136" xlink:label="loc_s2c_x136" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x136" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">ICAP SA (LEI code: 2138008U6LKT8VG2UK85)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x136" xlink:to="label_s2c_x136" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x137" xlink:label="loc_s2c_x137" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x137" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">GBB-Rating Gesellschaft für Bonitätsbeurteilung GmbH (LEI code: 391200OLWXCTKPADVV72)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x137" xlink:to="label_s2c_x137" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x138" xlink:label="loc_s2c_x138" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x138" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">ASSEKURATA Assekuranz Rating-Agentur GmbH (LEI code: 529900977LETWLJF3295)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x138" xlink:to="label_s2c_x138" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x139" xlink:label="loc_s2c_x139" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x139" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">ARC Ratings, S.A. (LEI code: 213800OZNJQMV6UA7D79)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x139" xlink:to="label_s2c_x139" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x140" xlink:label="loc_s2c_x140" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x140" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">AM Best Europe-Rating Services Ltd. (AMBERS) (LEI code: 549300VO8J8E5IQV1T26)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x140" xlink:to="label_s2c_x140" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x141" xlink:label="loc_s2c_x141" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x141" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">DBRS Ratings Limited (LEI code: 5493008CGCDQLGT3EH93)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x141" xlink:to="label_s2c_x141" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x142" xlink:label="loc_s2c_x142" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x142" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch France S.A.S. (LEI code: 2138009Y4TCZT6QOJO69)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x142" xlink:to="label_s2c_x142" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x143" xlink:label="loc_s2c_x143" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x143" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Deutschland GmbH (LEI code: 213800JEMOT1H45VN340)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x143" xlink:to="label_s2c_x143" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x144" xlink:label="loc_s2c_x144" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x144" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Italia S.p.A. (LEI code: 213800POJ9QSCHL3KR31)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x144" xlink:to="label_s2c_x144" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x145" xlink:label="loc_s2c_x145" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x145" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Polska S.A. (LEI code: 213800RYJTJPW2WD5704)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x145" xlink:to="label_s2c_x145" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x146" xlink:label="loc_s2c_x146" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x146" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Ratings España S.A.U. (LEI code: 213800RENFIIODKETE60)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x146" xlink:to="label_s2c_x146" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x147" xlink:label="loc_s2c_x147" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x147" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Ratings Limited (LEI code: 2138009F8YAHVC8W3Q52)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x147" xlink:to="label_s2c_x147" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x148" xlink:label="loc_s2c_x148" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x148" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Ratings CIS Limited (LEI code: 213800B7528Q4DIF2G76)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x148" xlink:to="label_s2c_x148" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x149" xlink:label="loc_s2c_x149" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x149" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service Cyprus Ltd (LEI code: 549300V4LCOYCMNUVR81)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x149" xlink:to="label_s2c_x149" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x150" xlink:label="loc_s2c_x150" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x150" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s France S.A.S. (LEI code: 549300EB2XQYRSE54F02)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x150" xlink:to="label_s2c_x150" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x151" xlink:label="loc_s2c_x151" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x151" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Deutschland GmbH (LEI code: 549300M5JMGHVTWYZH47)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x151" xlink:to="label_s2c_x151" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x152" xlink:label="loc_s2c_x152" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x152" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Italia S.r.l. (LEI code: 549300GMXJ4QK70UOU68)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x152" xlink:to="label_s2c_x152" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x153" xlink:label="loc_s2c_x153" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x153" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service España S.A. (LEI code: 5493005X59ILY4BGJK90)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x153" xlink:to="label_s2c_x153" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x154" xlink:label="loc_s2c_x154" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x154" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service Ltd (LEI code: 549300SM89WABHDNJ349)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x154" xlink:to="label_s2c_x154" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x158" xlink:label="loc_s2c_x158" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x158" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">CRIF Ratings S.r.l. (LEI code: 8156001AB6A1D740F237)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x158" xlink:to="label_s2c_x158" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x159" xlink:label="loc_s2c_x159" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x159" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Capital Intelligence Ratings Ltd (LEI code: 549300RE88OJP9J24Z18)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x159" xlink:to="label_s2c_x159" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x160" xlink:label="loc_s2c_x160" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x160" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">European Rating Agency, a.s. (LEI code: 097900BFME0000038276)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x160" xlink:to="label_s2c_x160" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x162" xlink:label="loc_s2c_x162" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x162" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Cerved Rating Agency S.p.A. (LEI code: 8156004AB6C992A99368)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x162" xlink:to="label_s2c_x162" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x163" xlink:label="loc_s2c_x163" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x163" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Kroll Bond Rating Agency (LEI code: 549300QYZ5CZYXTNZ676)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x163" xlink:to="label_s2c_x163" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x164" xlink:label="loc_s2c_x164" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x164" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">The Economist Intelligence Unit Ltd (LEI code: 213800Q7GRZWF95EWN10)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x164" xlink:to="label_s2c_x164" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x165" xlink:label="loc_s2c_x165" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x165" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Dagong Europe Credit Rating Srl (Dagong Europe) (LEI code: 815600BF4FF53B7C6311)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x165" xlink:to="label_s2c_x165" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x166" xlink:label="loc_s2c_x166" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x166" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">QIVALIO SAS (LEI code: 969500HB6BVM2UJDOC52)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x166" xlink:to="label_s2c_x166" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x167" xlink:label="loc_s2c_x167" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x167" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">EuroRating Sp. z o.o. (LEI code: 25940027QWS5GMO74O03)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x167" xlink:to="label_s2c_x167" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x168" xlink:label="loc_s2c_x168" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x168" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">HR Ratings de México, S.A. de C.V. (HR Ratings) (LEI code: 549300IFL3XJKTRHZ480)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x168" xlink:to="label_s2c_x168" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x169" xlink:label="loc_s2c_x169" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x169" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service EMEA Ltd (LEI code: 54930009NU3JYS1HTT72)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x169" xlink:to="label_s2c_x169" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x170" xlink:label="loc_s2c_x170" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x170" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Egan-Jones Ratings Co. (EJR) (LEI code: 54930016113PD33V1H31)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x170" xlink:to="label_s2c_x170" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x171" xlink:label="loc_s2c_x171" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x171" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">modeFinance S.r.l. (LEI code: 815600B85A94A0122614)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x171" xlink:to="label_s2c_x171" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x172" xlink:label="loc_s2c_x172" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x172" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">INC Rating Sp. z o.o. (LEI code: 259400SUBF5EPOGK0983)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x172" xlink:to="label_s2c_x172" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x173" xlink:label="loc_s2c_x173" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x173" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Rating-Agentur Expert RA GmbH (LEI code: 213800P3OOBSGWN2UE81)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x173" xlink:to="label_s2c_x173" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x174" xlink:label="loc_s2c_x174" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x174" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Other nominated ECAI</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x174" xlink:to="label_s2c_x174" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x176" xlink:label="loc_s2c_x176" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x176" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch (to be used when the split below is not available)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x176" xlink:to="label_s2c_x176" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x177" xlink:label="loc_s2c_x177" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x177" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s (to be used when the split below is not available)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x177" xlink:to="label_s2c_x177" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x178" xlink:label="loc_s2c_x178" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x178" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Standard &amp; Poor's (to be used when the split below is not available)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x178" xlink:to="label_s2c_x178" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x179" xlink:label="loc_s2c_x179" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x179" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">S&amp;P Global Ratings Europe Limited (LEI code:5493008B2TU3S6QE1E12)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x179" xlink:to="label_s2c_x179" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x180" xlink:label="loc_s2c_x180" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x180" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Axesor Risk Management SL (LEI code: 959800EC2RH76JYS3844)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x180" xlink:to="label_s2c_x180" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x181" xlink:label="loc_s2c_x181" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x181" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Kroll Bond Rating Agency Europe Limited (LEI code: 5493001NGHOLC41ZSK05)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x181" xlink:to="label_s2c_x181" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x183" xlink:label="loc_s2c_x183" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x183" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Nordic Credit Rating AS (LEI code: 549300MLUDYVRQOOXS22)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x183" xlink:to="label_s2c_x183" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x184" xlink:label="loc_s2c_x184" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x184" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service (Nordics) AB (LEI code: 549300W79ZVFWJCD2Z23)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x184" xlink:to="label_s2c_x184" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x185" xlink:label="loc_s2c_x185" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x185" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">A.M. Best (EU) Rating Services B.V. (LEI code: 549300Z2RUKFKV7GON79)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x185" xlink:to="label_s2c_x185" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x186" xlink:label="loc_s2c_x186" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x186" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">DBRS Rating GmbH (LEI code: 54930033N1HPUEY7I370)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x186" xlink:to="label_s2c_x186" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x187" xlink:label="loc_s2c_x187" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x187" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">No ECAI has been nominated and a simplification is being used to calculate the SCR</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x187" xlink:to="label_s2c_x187" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x188" xlink:label="loc_s2c_x188" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x188" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Beyond Ratings SAS (LEI code: 9695006ORIPPZ3QSM810)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x188" xlink:to="label_s2c_x188" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x189" xlink:label="loc_s2c_x189" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x189" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">AM Best Europe (to be used when the split below is not available)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x189" xlink:to="label_s2c_x189" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x190" xlink:label="loc_s2c_x190" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x190" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Ratings Ireland Limited (LEI code: 213800BTXUQP1JZRO283)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x190" xlink:to="label_s2c_x190" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x191" xlink:label="loc_s2c_x191" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x191" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Inbonis S.A. (LEI code: 875500OYQK8S5AGGBZ02)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x191" xlink:to="label_s2c_x191" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/27" xlink:type="simple" xlink:href="hier.xsd#s2c_27" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/27">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x131" xlink:label="loc_s2c_x131" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x131" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Scope Hamburg GmbH (LEI code: 391200QXGLWHK9VK6V27)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x131" xlink:to="label_s2c_x131" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x132" xlink:label="loc_s2c_x132" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x132" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Japan Credit Rating Agency Ltd (LEI code: 35380002378CEGMRVW86)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x132" xlink:to="label_s2c_x132" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x133" xlink:label="loc_s2c_x133" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x133" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">BCRA-Credit Rating Agency AD (LEI code: 747800Z0IC3P66HTQ142)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x133" xlink:to="label_s2c_x133" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x134" xlink:label="loc_s2c_x134" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x134" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Creditreform Rating AG (LEI code: 391200PHL11KDUTTST66)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x134" xlink:to="label_s2c_x134" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x135" xlink:label="loc_s2c_x135" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x135" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Scope Ratings GmbH (LEI code: 391200WU1EZUQFHDWE91)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x135" xlink:to="label_s2c_x135" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x136" xlink:label="loc_s2c_x136" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x136" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">ICAP SA (LEI code: 2138008U6LKT8VG2UK85)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x136" xlink:to="label_s2c_x136" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x137" xlink:label="loc_s2c_x137" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x137" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">GBB-Rating Gesellschaft für Bonitätsbeurteilung GmbH (LEI code: 391200OLWXCTKPADVV72)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x137" xlink:to="label_s2c_x137" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x138" xlink:label="loc_s2c_x138" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x138" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">ASSEKURATA Assekuranz Rating-Agentur GmbH (LEI code: 529900977LETWLJF3295)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x138" xlink:to="label_s2c_x138" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x139" xlink:label="loc_s2c_x139" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x139" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">ARC Ratings, S.A. (LEI code: 213800OZNJQMV6UA7D79)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x139" xlink:to="label_s2c_x139" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x140" xlink:label="loc_s2c_x140" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x140" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">AM Best Europe-Rating Services Ltd. (AMBERS) (LEI code: 549300VO8J8E5IQV1T26)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x140" xlink:to="label_s2c_x140" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x141" xlink:label="loc_s2c_x141" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x141" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">DBRS Ratings Limited (LEI code: 5493008CGCDQLGT3EH93)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x141" xlink:to="label_s2c_x141" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x142" xlink:label="loc_s2c_x142" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x142" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch France S.A.S. (LEI code: 2138009Y4TCZT6QOJO69)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x142" xlink:to="label_s2c_x142" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x143" xlink:label="loc_s2c_x143" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x143" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Deutschland GmbH (LEI code: 213800JEMOT1H45VN340)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x143" xlink:to="label_s2c_x143" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x144" xlink:label="loc_s2c_x144" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x144" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Italia S.p.A. (LEI code: 213800POJ9QSCHL3KR31)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x144" xlink:to="label_s2c_x144" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x145" xlink:label="loc_s2c_x145" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x145" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Polska S.A. (LEI code: 213800RYJTJPW2WD5704)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x145" xlink:to="label_s2c_x145" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x146" xlink:label="loc_s2c_x146" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x146" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Ratings España S.A.U. (LEI code: 213800RENFIIODKETE60)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x146" xlink:to="label_s2c_x146" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x147" xlink:label="loc_s2c_x147" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x147" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Ratings Limited (LEI code: 2138009F8YAHVC8W3Q52)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x147" xlink:to="label_s2c_x147" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x148" xlink:label="loc_s2c_x148" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x148" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Ratings CIS Limited (LEI code: 213800B7528Q4DIF2G76)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x148" xlink:to="label_s2c_x148" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x149" xlink:label="loc_s2c_x149" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x149" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service Cyprus Ltd (LEI code: 549300V4LCOYCMNUVR81)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x149" xlink:to="label_s2c_x149" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x150" xlink:label="loc_s2c_x150" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x150" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s France S.A.S. (LEI code: 549300EB2XQYRSE54F02)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x150" xlink:to="label_s2c_x150" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x151" xlink:label="loc_s2c_x151" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x151" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Deutschland GmbH (LEI code: 549300M5JMGHVTWYZH47)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x151" xlink:to="label_s2c_x151" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x152" xlink:label="loc_s2c_x152" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x152" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Italia S.r.l. (LEI code: 549300GMXJ4QK70UOU68)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x152" xlink:to="label_s2c_x152" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x153" xlink:label="loc_s2c_x153" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x153" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service España S.A. (LEI code: 5493005X59ILY4BGJK90)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x153" xlink:to="label_s2c_x153" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x154" xlink:label="loc_s2c_x154" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x154" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service Ltd (LEI code: 549300SM89WABHDNJ349)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x154" xlink:to="label_s2c_x154" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x158" xlink:label="loc_s2c_x158" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x158" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">CRIF Ratings S.r.l. (LEI code: 8156001AB6A1D740F237)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x158" xlink:to="label_s2c_x158" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x159" xlink:label="loc_s2c_x159" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x159" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Capital Intelligence Ratings Ltd (LEI code: 549300RE88OJP9J24Z18)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x159" xlink:to="label_s2c_x159" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x160" xlink:label="loc_s2c_x160" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x160" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">European Rating Agency, a.s. (LEI code: 097900BFME0000038276)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x160" xlink:to="label_s2c_x160" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x162" xlink:label="loc_s2c_x162" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x162" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Cerved Rating Agency S.p.A. (LEI code: 8156004AB6C992A99368)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x162" xlink:to="label_s2c_x162" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x163" xlink:label="loc_s2c_x163" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x163" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Kroll Bond Rating Agency (LEI code: 549300QYZ5CZYXTNZ676)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x163" xlink:to="label_s2c_x163" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x164" xlink:label="loc_s2c_x164" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x164" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">The Economist Intelligence Unit Ltd (LEI code: 213800Q7GRZWF95EWN10)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x164" xlink:to="label_s2c_x164" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x165" xlink:label="loc_s2c_x165" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x165" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Dagong Europe Credit Rating Srl (Dagong Europe) (LEI code: 815600BF4FF53B7C6311)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x165" xlink:to="label_s2c_x165" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x166" xlink:label="loc_s2c_x166" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x166" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">QIVALIO SAS (LEI code: 969500HB6BVM2UJDOC52)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x166" xlink:to="label_s2c_x166" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x167" xlink:label="loc_s2c_x167" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x167" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">EuroRating Sp. z o.o. (LEI code: 25940027QWS5GMO74O03)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x167" xlink:to="label_s2c_x167" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x168" xlink:label="loc_s2c_x168" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x168" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">HR Ratings de México, S.A. de C.V. (HR Ratings) (LEI code: 549300IFL3XJKTRHZ480)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x168" xlink:to="label_s2c_x168" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x169" xlink:label="loc_s2c_x169" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x169" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service EMEA Ltd (LEI code: 54930009NU3JYS1HTT72)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x169" xlink:to="label_s2c_x169" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x170" xlink:label="loc_s2c_x170" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x170" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Egan-Jones Ratings Co. (EJR) (LEI code: 54930016113PD33V1H31)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x170" xlink:to="label_s2c_x170" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x171" xlink:label="loc_s2c_x171" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x171" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">modeFinance S.r.l. (LEI code: 815600B85A94A0122614)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x171" xlink:to="label_s2c_x171" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x172" xlink:label="loc_s2c_x172" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x172" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">INC Rating Sp. z o.o. (LEI code: 259400SUBF5EPOGK0983)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x172" xlink:to="label_s2c_x172" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x173" xlink:label="loc_s2c_x173" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x173" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Rating-Agentur Expert RA GmbH (LEI code: 213800P3OOBSGWN2UE81)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x173" xlink:to="label_s2c_x173" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x174" xlink:label="loc_s2c_x174" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x174" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Other nominated ECAI</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x174" xlink:to="label_s2c_x174" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x176" xlink:label="loc_s2c_x176" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x176" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch (to be used when the split below is not available)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x176" xlink:to="label_s2c_x176" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x177" xlink:label="loc_s2c_x177" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x177" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s (to be used when the split below is not available)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x177" xlink:to="label_s2c_x177" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x178" xlink:label="loc_s2c_x178" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x178" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Standard &amp; Poor's (to be used when the split below is not available)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x178" xlink:to="label_s2c_x178" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x179" xlink:label="loc_s2c_x179" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x179" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">S&amp;P Global Ratings Europe Limited (LEI code:5493008B2TU3S6QE1E12)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x179" xlink:to="label_s2c_x179" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x180" xlink:label="loc_s2c_x180" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x180" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Axesor Risk Management SL (LEI code: 959800EC2RH76JYS3844)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x180" xlink:to="label_s2c_x180" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x181" xlink:label="loc_s2c_x181" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x181" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Kroll Bond Rating Agency Europe Limited (LEI code: 5493001NGHOLC41ZSK05)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x181" xlink:to="label_s2c_x181" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x183" xlink:label="loc_s2c_x183" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x183" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Nordic Credit Rating AS (LEI code: 549300MLUDYVRQOOXS22)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x183" xlink:to="label_s2c_x183" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x184" xlink:label="loc_s2c_x184" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x184" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service (Nordics) AB (LEI code: 549300W79ZVFWJCD2Z23)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x184" xlink:to="label_s2c_x184" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x185" xlink:label="loc_s2c_x185" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x185" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">A.M. Best (EU) Rating Services B.V. (LEI code: 549300Z2RUKFKV7GON79)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x185" xlink:to="label_s2c_x185" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x186" xlink:label="loc_s2c_x186" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x186" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">DBRS Rating GmbH (LEI code: 54930033N1HPUEY7I370)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x186" xlink:to="label_s2c_x186" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x188" xlink:label="loc_s2c_x188" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x188" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Beyond Ratings SAS (LEI code: 9695006ORIPPZ3QSM810)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x188" xlink:to="label_s2c_x188" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x189" xlink:label="loc_s2c_x189" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x189" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">AM Best Europe (to be used when the split below is not available)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x189" xlink:to="label_s2c_x189" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x190" xlink:label="loc_s2c_x190" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x190" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Ratings Ireland Limited (LEI code: 213800BTXUQP1JZRO283)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x190" xlink:to="label_s2c_x190" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x191" xlink:label="loc_s2c_x191" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x191" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Inbonis S.A. (LEI code: 875500OYQK8S5AGGBZ02)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x191" xlink:to="label_s2c_x191" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/28" xlink:type="simple" xlink:href="hier.xsd#s2c_28" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/28">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x131" xlink:label="loc_s2c_x131" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x131" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Scope Hamburg GmbH (LEI code: 391200QXGLWHK9VK6V27)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x131" xlink:to="label_s2c_x131" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x132" xlink:label="loc_s2c_x132" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x132" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Japan Credit Rating Agency Ltd (LEI code: 35380002378CEGMRVW86)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x132" xlink:to="label_s2c_x132" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x133" xlink:label="loc_s2c_x133" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x133" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">BCRA-Credit Rating Agency AD (LEI code: 747800Z0IC3P66HTQ142)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x133" xlink:to="label_s2c_x133" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x134" xlink:label="loc_s2c_x134" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x134" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Creditreform Rating AG (LEI code: 391200PHL11KDUTTST66)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x134" xlink:to="label_s2c_x134" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x135" xlink:label="loc_s2c_x135" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x135" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Scope Ratings GmbH (LEI code: 391200WU1EZUQFHDWE91)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x135" xlink:to="label_s2c_x135" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x136" xlink:label="loc_s2c_x136" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x136" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">ICAP SA (LEI code: 2138008U6LKT8VG2UK85)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x136" xlink:to="label_s2c_x136" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x137" xlink:label="loc_s2c_x137" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x137" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">GBB-Rating Gesellschaft für Bonitätsbeurteilung GmbH (LEI code: 391200OLWXCTKPADVV72)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x137" xlink:to="label_s2c_x137" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x138" xlink:label="loc_s2c_x138" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x138" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">ASSEKURATA Assekuranz Rating-Agentur GmbH (LEI code: 529900977LETWLJF3295)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x138" xlink:to="label_s2c_x138" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x139" xlink:label="loc_s2c_x139" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x139" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">ARC Ratings, S.A. (LEI code: 213800OZNJQMV6UA7D79)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x139" xlink:to="label_s2c_x139" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x140" xlink:label="loc_s2c_x140" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x140" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">AM Best Europe-Rating Services Ltd. (AMBERS) (LEI code: 549300VO8J8E5IQV1T26)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x140" xlink:to="label_s2c_x140" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x141" xlink:label="loc_s2c_x141" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x141" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">DBRS Ratings Limited (LEI code: 5493008CGCDQLGT3EH93)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x141" xlink:to="label_s2c_x141" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x142" xlink:label="loc_s2c_x142" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x142" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch France S.A.S. (LEI code: 2138009Y4TCZT6QOJO69)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x142" xlink:to="label_s2c_x142" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x143" xlink:label="loc_s2c_x143" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x143" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Deutschland GmbH (LEI code: 213800JEMOT1H45VN340)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x143" xlink:to="label_s2c_x143" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x144" xlink:label="loc_s2c_x144" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x144" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Italia S.p.A. (LEI code: 213800POJ9QSCHL3KR31)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x144" xlink:to="label_s2c_x144" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x145" xlink:label="loc_s2c_x145" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x145" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Polska S.A. (LEI code: 213800RYJTJPW2WD5704)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x145" xlink:to="label_s2c_x145" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x146" xlink:label="loc_s2c_x146" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x146" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Ratings España S.A.U. (LEI code: 213800RENFIIODKETE60)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x146" xlink:to="label_s2c_x146" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x147" xlink:label="loc_s2c_x147" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x147" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Ratings Limited (LEI code: 2138009F8YAHVC8W3Q52)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x147" xlink:to="label_s2c_x147" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x148" xlink:label="loc_s2c_x148" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x148" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Ratings CIS Limited (LEI code: 213800B7528Q4DIF2G76)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x148" xlink:to="label_s2c_x148" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x149" xlink:label="loc_s2c_x149" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x149" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service Cyprus Ltd (LEI code: 549300V4LCOYCMNUVR81)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x149" xlink:to="label_s2c_x149" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x150" xlink:label="loc_s2c_x150" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x150" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s France S.A.S. (LEI code: 549300EB2XQYRSE54F02)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x150" xlink:to="label_s2c_x150" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x151" xlink:label="loc_s2c_x151" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x151" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Deutschland GmbH (LEI code: 549300M5JMGHVTWYZH47)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x151" xlink:to="label_s2c_x151" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x152" xlink:label="loc_s2c_x152" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x152" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Italia S.r.l. (LEI code: 549300GMXJ4QK70UOU68)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x152" xlink:to="label_s2c_x152" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x153" xlink:label="loc_s2c_x153" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x153" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service España S.A. (LEI code: 5493005X59ILY4BGJK90)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x153" xlink:to="label_s2c_x153" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x154" xlink:label="loc_s2c_x154" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x154" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service Ltd (LEI code: 549300SM89WABHDNJ349)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x154" xlink:to="label_s2c_x154" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x158" xlink:label="loc_s2c_x158" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x158" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">CRIF Ratings S.r.l. (LEI code: 8156001AB6A1D740F237)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x158" xlink:to="label_s2c_x158" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x159" xlink:label="loc_s2c_x159" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x159" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Capital Intelligence Ratings Ltd (LEI code: 549300RE88OJP9J24Z18)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x159" xlink:to="label_s2c_x159" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x160" xlink:label="loc_s2c_x160" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x160" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">European Rating Agency, a.s. (LEI code: 097900BFME0000038276)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x160" xlink:to="label_s2c_x160" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x162" xlink:label="loc_s2c_x162" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x162" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Cerved Rating Agency S.p.A. (LEI code: 8156004AB6C992A99368)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x162" xlink:to="label_s2c_x162" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x163" xlink:label="loc_s2c_x163" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x163" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Kroll Bond Rating Agency (LEI code: 549300QYZ5CZYXTNZ676)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x163" xlink:to="label_s2c_x163" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x164" xlink:label="loc_s2c_x164" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x164" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">The Economist Intelligence Unit Ltd (LEI code: 213800Q7GRZWF95EWN10)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x164" xlink:to="label_s2c_x164" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x165" xlink:label="loc_s2c_x165" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x165" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Dagong Europe Credit Rating Srl (Dagong Europe) (LEI code: 815600BF4FF53B7C6311)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x165" xlink:to="label_s2c_x165" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x166" xlink:label="loc_s2c_x166" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x166" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">QIVALIO SAS (LEI code: 969500HB6BVM2UJDOC52)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x166" xlink:to="label_s2c_x166" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x167" xlink:label="loc_s2c_x167" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x167" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">EuroRating Sp. z o.o. (LEI code: 25940027QWS5GMO74O03)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x167" xlink:to="label_s2c_x167" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x168" xlink:label="loc_s2c_x168" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x168" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">HR Ratings de México, S.A. de C.V. (HR Ratings) (LEI code: 549300IFL3XJKTRHZ480)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x168" xlink:to="label_s2c_x168" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x169" xlink:label="loc_s2c_x169" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x169" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service EMEA Ltd (LEI code: 54930009NU3JYS1HTT72)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x169" xlink:to="label_s2c_x169" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x170" xlink:label="loc_s2c_x170" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x170" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Egan-Jones Ratings Co. (EJR) (LEI code: 54930016113PD33V1H31)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x170" xlink:to="label_s2c_x170" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x171" xlink:label="loc_s2c_x171" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x171" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">modeFinance S.r.l. (LEI code: 815600B85A94A0122614)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x171" xlink:to="label_s2c_x171" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x172" xlink:label="loc_s2c_x172" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x172" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">INC Rating Sp. z o.o. (LEI code: 259400SUBF5EPOGK0983)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x172" xlink:to="label_s2c_x172" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x173" xlink:label="loc_s2c_x173" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x173" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Rating-Agentur Expert RA GmbH (LEI code: 213800P3OOBSGWN2UE81)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x173" xlink:to="label_s2c_x173" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x174" xlink:label="loc_s2c_x174" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x174" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Other nominated ECAI</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x174" xlink:to="label_s2c_x174" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x175" xlink:label="loc_s2c_x175" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x175" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Multiple ECAI</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x175" xlink:to="label_s2c_x175" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x176" xlink:label="loc_s2c_x176" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x176" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch (to be used when the split below is not available)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x176" xlink:to="label_s2c_x176" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x177" xlink:label="loc_s2c_x177" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x177" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s (to be used when the split below is not available)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x177" xlink:to="label_s2c_x177" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x178" xlink:label="loc_s2c_x178" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x178" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Standard &amp; Poor's (to be used when the split below is not available)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x178" xlink:to="label_s2c_x178" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x179" xlink:label="loc_s2c_x179" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x179" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">S&amp;P Global Ratings Europe Limited (LEI code:5493008B2TU3S6QE1E12)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x179" xlink:to="label_s2c_x179" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x180" xlink:label="loc_s2c_x180" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x180" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Axesor Risk Management SL (LEI code: 959800EC2RH76JYS3844)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x180" xlink:to="label_s2c_x180" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x181" xlink:label="loc_s2c_x181" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x181" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Kroll Bond Rating Agency Europe Limited (LEI code: 5493001NGHOLC41ZSK05)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x181" xlink:to="label_s2c_x181" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x183" xlink:label="loc_s2c_x183" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x183" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Nordic Credit Rating AS (LEI code: 549300MLUDYVRQOOXS22)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x183" xlink:to="label_s2c_x183" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x184" xlink:label="loc_s2c_x184" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x184" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service (Nordics) AB (LEI code: 549300W79ZVFWJCD2Z23)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x184" xlink:to="label_s2c_x184" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x185" xlink:label="loc_s2c_x185" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x185" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">A.M. Best (EU) Rating Services B.V. (LEI code: 549300Z2RUKFKV7GON79)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x185" xlink:to="label_s2c_x185" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x186" xlink:label="loc_s2c_x186" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x186" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">DBRS Rating GmbH (LEI code: 54930033N1HPUEY7I370)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x186" xlink:to="label_s2c_x186" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x188" xlink:label="loc_s2c_x188" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x188" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Beyond Ratings SAS (LEI code: 9695006ORIPPZ3QSM810)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x188" xlink:to="label_s2c_x188" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x189" xlink:label="loc_s2c_x189" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x189" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">AM Best Europe (to be used when the split below is not available)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x189" xlink:to="label_s2c_x189" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x190" xlink:label="loc_s2c_x190" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x190" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Ratings Ireland Limited (LEI code: 213800BTXUQP1JZRO283)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x190" xlink:to="label_s2c_x190" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x191" xlink:label="loc_s2c_x191" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x191" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Inbonis S.A. (LEI code: 875500OYQK8S5AGGBZ02)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x191" xlink:to="label_s2c_x191" />
  </link:labelLink>
  <link:roleRef roleURI="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/29" xlink:type="simple" xlink:href="hier.xsd#s2c_29" />
  <link:labelLink xlink:type="extended" xlink:role="http://eiopa.europa.eu/xbrl/s2c/role/dict/dom/SE/29">
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x131" xlink:label="loc_s2c_x131" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x131" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Scope Hamburg GmbH (LEI code: 391200QXGLWHK9VK6V27)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x131" xlink:to="label_s2c_x131" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x132" xlink:label="loc_s2c_x132" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x132" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Japan Credit Rating Agency Ltd (LEI code: 35380002378CEGMRVW86)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x132" xlink:to="label_s2c_x132" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x133" xlink:label="loc_s2c_x133" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x133" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">BCRA-Credit Rating Agency AD (LEI code: 747800Z0IC3P66HTQ142)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x133" xlink:to="label_s2c_x133" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x134" xlink:label="loc_s2c_x134" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x134" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Creditreform Rating AG (LEI code: 391200PHL11KDUTTST66)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x134" xlink:to="label_s2c_x134" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x135" xlink:label="loc_s2c_x135" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x135" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Scope Ratings GmbH (LEI code: 391200WU1EZUQFHDWE91)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x135" xlink:to="label_s2c_x135" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x136" xlink:label="loc_s2c_x136" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x136" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">ICAP SA (LEI code: 2138008U6LKT8VG2UK85)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x136" xlink:to="label_s2c_x136" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x137" xlink:label="loc_s2c_x137" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x137" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">GBB-Rating Gesellschaft für Bonitätsbeurteilung GmbH (LEI code: 391200OLWXCTKPADVV72)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x137" xlink:to="label_s2c_x137" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x138" xlink:label="loc_s2c_x138" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x138" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">ASSEKURATA Assekuranz Rating-Agentur GmbH (LEI code: 529900977LETWLJF3295)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x138" xlink:to="label_s2c_x138" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x139" xlink:label="loc_s2c_x139" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x139" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">ARC Ratings, S.A. (LEI code: 213800OZNJQMV6UA7D79)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x139" xlink:to="label_s2c_x139" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x140" xlink:label="loc_s2c_x140" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x140" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">AM Best Europe-Rating Services Ltd. (AMBERS) (LEI code: 549300VO8J8E5IQV1T26)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x140" xlink:to="label_s2c_x140" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x141" xlink:label="loc_s2c_x141" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x141" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">DBRS Ratings Limited (LEI code: 5493008CGCDQLGT3EH93)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x141" xlink:to="label_s2c_x141" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x142" xlink:label="loc_s2c_x142" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x142" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch France S.A.S. (LEI code: 2138009Y4TCZT6QOJO69)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x142" xlink:to="label_s2c_x142" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x143" xlink:label="loc_s2c_x143" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x143" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Deutschland GmbH (LEI code: 213800JEMOT1H45VN340)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x143" xlink:to="label_s2c_x143" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x144" xlink:label="loc_s2c_x144" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x144" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Italia S.p.A. (LEI code: 213800POJ9QSCHL3KR31)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x144" xlink:to="label_s2c_x144" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x145" xlink:label="loc_s2c_x145" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x145" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Polska S.A. (LEI code: 213800RYJTJPW2WD5704)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x145" xlink:to="label_s2c_x145" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x146" xlink:label="loc_s2c_x146" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x146" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Ratings España S.A.U. (LEI code: 213800RENFIIODKETE60)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x146" xlink:to="label_s2c_x146" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x147" xlink:label="loc_s2c_x147" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x147" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Ratings Limited (LEI code: 2138009F8YAHVC8W3Q52)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x147" xlink:to="label_s2c_x147" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x148" xlink:label="loc_s2c_x148" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x148" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Ratings CIS Limited (LEI code: 213800B7528Q4DIF2G76)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x148" xlink:to="label_s2c_x148" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x149" xlink:label="loc_s2c_x149" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x149" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service Cyprus Ltd (LEI code: 549300V4LCOYCMNUVR81)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x149" xlink:to="label_s2c_x149" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x150" xlink:label="loc_s2c_x150" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x150" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s France S.A.S. (LEI code: 549300EB2XQYRSE54F02)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x150" xlink:to="label_s2c_x150" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x151" xlink:label="loc_s2c_x151" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x151" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Deutschland GmbH (LEI code: 549300M5JMGHVTWYZH47)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x151" xlink:to="label_s2c_x151" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x152" xlink:label="loc_s2c_x152" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x152" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Italia S.r.l. (LEI code: 549300GMXJ4QK70UOU68)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x152" xlink:to="label_s2c_x152" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x153" xlink:label="loc_s2c_x153" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x153" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service España S.A. (LEI code: 5493005X59ILY4BGJK90)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x153" xlink:to="label_s2c_x153" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x154" xlink:label="loc_s2c_x154" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x154" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service Ltd (LEI code: 549300SM89WABHDNJ349)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x154" xlink:to="label_s2c_x154" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x158" xlink:label="loc_s2c_x158" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x158" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">CRIF Ratings S.r.l. (LEI code: 8156001AB6A1D740F237)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x158" xlink:to="label_s2c_x158" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x159" xlink:label="loc_s2c_x159" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x159" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Capital Intelligence Ratings Ltd (LEI code: 549300RE88OJP9J24Z18)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x159" xlink:to="label_s2c_x159" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x160" xlink:label="loc_s2c_x160" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x160" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">European Rating Agency, a.s. (LEI code: 097900BFME0000038276)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x160" xlink:to="label_s2c_x160" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x162" xlink:label="loc_s2c_x162" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x162" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Cerved Rating Agency S.p.A. (LEI code: 8156004AB6C992A99368)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x162" xlink:to="label_s2c_x162" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x163" xlink:label="loc_s2c_x163" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x163" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Kroll Bond Rating Agency (LEI code: 549300QYZ5CZYXTNZ676)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x163" xlink:to="label_s2c_x163" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x164" xlink:label="loc_s2c_x164" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x164" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">The Economist Intelligence Unit Ltd (LEI code: 213800Q7GRZWF95EWN10)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x164" xlink:to="label_s2c_x164" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x165" xlink:label="loc_s2c_x165" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x165" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Dagong Europe Credit Rating Srl (Dagong Europe) (LEI code: 815600BF4FF53B7C6311)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x165" xlink:to="label_s2c_x165" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x166" xlink:label="loc_s2c_x166" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x166" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">QIVALIO SAS (LEI code: 969500HB6BVM2UJDOC52)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x166" xlink:to="label_s2c_x166" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x167" xlink:label="loc_s2c_x167" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x167" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">EuroRating Sp. z o.o. (LEI code: 25940027QWS5GMO74O03)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x167" xlink:to="label_s2c_x167" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x168" xlink:label="loc_s2c_x168" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x168" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">HR Ratings de México, S.A. de C.V. (HR Ratings) (LEI code: 549300IFL3XJKTRHZ480)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x168" xlink:to="label_s2c_x168" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x169" xlink:label="loc_s2c_x169" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x169" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service EMEA Ltd (LEI code: 54930009NU3JYS1HTT72)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x169" xlink:to="label_s2c_x169" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x170" xlink:label="loc_s2c_x170" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x170" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Egan-Jones Ratings Co. (EJR) (LEI code: 54930016113PD33V1H31)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x170" xlink:to="label_s2c_x170" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x171" xlink:label="loc_s2c_x171" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x171" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">modeFinance S.r.l. (LEI code: 815600B85A94A0122614)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x171" xlink:to="label_s2c_x171" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x172" xlink:label="loc_s2c_x172" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x172" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">INC Rating Sp. z o.o. (LEI code: 259400SUBF5EPOGK0983)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x172" xlink:to="label_s2c_x172" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x173" xlink:label="loc_s2c_x173" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x173" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Rating-Agentur Expert RA GmbH (LEI code: 213800P3OOBSGWN2UE81)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x173" xlink:to="label_s2c_x173" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x174" xlink:label="loc_s2c_x174" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x174" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Other nominated ECAI</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x174" xlink:to="label_s2c_x174" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x175" xlink:label="loc_s2c_x175" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x175" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Multiple ECAI</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x175" xlink:to="label_s2c_x175" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x176" xlink:label="loc_s2c_x176" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x176" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch (to be used when the split below is not available)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x176" xlink:to="label_s2c_x176" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x177" xlink:label="loc_s2c_x177" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x177" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s (to be used when the split below is not available)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x177" xlink:to="label_s2c_x177" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x178" xlink:label="loc_s2c_x178" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x178" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Standard &amp; Poor's (to be used when the split below is not available)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x178" xlink:to="label_s2c_x178" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x179" xlink:label="loc_s2c_x179" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x179" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">S&amp;P Global Ratings Europe Limited (LEI code:5493008B2TU3S6QE1E12)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x179" xlink:to="label_s2c_x179" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x180" xlink:label="loc_s2c_x180" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x180" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Axesor Risk Management SL (LEI code: 959800EC2RH76JYS3844)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x180" xlink:to="label_s2c_x180" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x181" xlink:label="loc_s2c_x181" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x181" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Kroll Bond Rating Agency Europe Limited (LEI code: 5493001NGHOLC41ZSK05)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x181" xlink:to="label_s2c_x181" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x183" xlink:label="loc_s2c_x183" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x183" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Nordic Credit Rating AS (LEI code: 549300MLUDYVRQOOXS22)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x183" xlink:to="label_s2c_x183" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x184" xlink:label="loc_s2c_x184" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x184" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Moody’s Investors Service (Nordics) AB (LEI code: 549300W79ZVFWJCD2Z23)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x184" xlink:to="label_s2c_x184" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x185" xlink:label="loc_s2c_x185" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x185" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">A.M. Best (EU) Rating Services B.V. (LEI code: 549300Z2RUKFKV7GON79)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x185" xlink:to="label_s2c_x185" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x186" xlink:label="loc_s2c_x186" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x186" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">DBRS Rating GmbH (LEI code: 54930033N1HPUEY7I370)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x186" xlink:to="label_s2c_x186" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x187" xlink:label="loc_s2c_x187" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x187" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">No ECAI has been nominated and a simplification is being used to calculate the SCR</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x187" xlink:to="label_s2c_x187" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x188" xlink:label="loc_s2c_x188" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x188" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Beyond Ratings SAS (LEI code: 9695006ORIPPZ3QSM810)</link:label>
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    <link:label xlink:type="resource" xlink:label="label_s2c_x189" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">AM Best Europe (to be used when the split below is not available)</link:label>
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    <link:label xlink:type="resource" xlink:label="label_s2c_x190" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Fitch Ratings Ireland Limited (LEI code: 213800BTXUQP1JZRO283)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x190" xlink:to="label_s2c_x190" />
    <link:loc xlink:type="locator" xlink:href="mem.xsd#s2c_x191" xlink:label="loc_s2c_x191" />
    <link:label xlink:type="resource" xlink:label="label_s2c_x191" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Inbonis S.A. (LEI code: 875500OYQK8S5AGGBZ02)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_s2c_x191" xlink:to="label_s2c_x191" />
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