Prudential Regulation Authority Rulebook

5.1

This Chapter only applies to a pure reinsurer.

5.2

Subject to 5.3, for a pure reinsurer:

1. (1) the CR Requirement in respect of its general insurance business is the general insurance capital requirement; and
2. (2) the CR Requirement in respect of its long-term insurance business is the long-term insurance capital requirement.

5.3

If the sum of:

1. (1) the general insurance capital requirement; and
2. (2) the long-term insurance capital requirement,

is lower than the base capital resources requirement, the firm has a single CR Requirement in respect of its entire business equal to the base capital resources requirement.