Prudential Regulation Authority Rulebook

2.1

A firm (other than a Swiss general insurer) must allocate each of the SIMR prescribed responsibilities set out in 3.1 (other than 3.1(9) and (10)) to one or more persons who, in relation to that firm, are approved under section 59 of FSMA by:

1. (1) the PRA to perform a senior insurance management function; or
2. (2) in relation to relevant senior management functions only, the FCA.

2.2

A firm (other than a Swiss general insurer) must allocate each of the SIMR prescribed responsibilities set out in 3.1(9) and (10) to one or more non-executive directors who perform a senior insurance management function set out in Large Non-Solvency II Firms – Senior Insurance Management Functions 4 or an FCA governing function at that firm.