Glossary

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Term Definition Legal instruments

counterparty

01/01/2016

means in relation to an insurer:

(1) any one individual;

(2) any one unincorporated body of persons;

(3) any one undertaking not being a member of a group;

(4) any group undertakings excluding any undertakings within the group which are subsidiaries of the firm; or

(5) any government of a State together with all the public bodies, local authorities or nationalised industries of that State,

in which the firm has made investments or against whom it has rights whether under of a contract entered into by the firm or otherwise.