Glossary
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Term | Definition | Legal instruments |
---|---|---|
ancillary insurance services undertaking 01/01/2016 |
THIS DEFINITION ONLY APPLIES TO THE FINANCIAL CONGLOMERATES PART
in relation to any undertaking in a consolidation group, an undertaking complying with the following conditions: (1) its principal activity consists of: (a) owning or managing property; (b) managing data-processing services; (c) providing health and care services; or (d) any other similar activity; (2) the activity in (1) is ancillary to the principal activity of one or more insurance undertakings; and (3) those insurance undertakings are also members of that consolidation group. |