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Application provision

1.1 Unless otherwise stated, this Part applies to:

  1. (1) a UK Solvency II firm;
  2. (2) in accordance with Insurance General Application 3, the Society, as modified by 12; and
  3. (3) in accordance with Insurance General Application 3, managing agents, as modified by 12.

9.1

01/01/2016

  1. (1) A firm, other than a pure reinsurer, must not carry on any commercial business other than insurance business and activities directly arising from that business.
  2. (2) (1) does not prevent a friendly society that was on 15 March 1979 carrying on long-term insurance business and savings business from continuing to carry on savings business.

Additional Notes


[Note: Arts. 18(1)(a) and 305(3) of the Solvency II Directive]

9.2

01/01/2016

A pure reinsurer must not carry on any business other than the business of reinsurance and related operations.

Additional Notes


[Note: Art. 18(1)(b) of the Solvency II Directive]