Insurance Special Purpose Vehicles

Part

Printed on: 30/04/2024

Rulebook at: 01/01/2016

PS2/15 - Solvency II: A new regime for insurers	https://www.bankofengland.co.uk/prudential-regulation/publication/2015/solvency-2-a-new-regime-for-insurers
Legislation.gov.uk	http://www.legislation.gov.uk/
Eur-Lex	http://eur-lex.europa.eu/en/index.htm

1.1

Unless otherwise stated, this Part applies to a UK ISPV.

2.1

A UK ISPV must ensure that at all times it is fully funded.

3.1

Where a UK ISPV has a Part 4A permission to effect contracts of insurance or carry out contracts of insurance as an ISPV in force prior to 1 January 2016, that Part 4A permission shall continue to have effect thereafter provided that the UK ISPV satisfies the requirements of the Solvency II Regulations that are relevant to ISPVs on that date.