Application provision

1.1 Unless otherwise stated, this Part applies to:

  1. (1) every UK Solvency II firm:
    1. (a) that is a member of a group for which the PRA is the group supervisor;
    2. (b) that is a member of a group for which a supervisory authority (other than the PRA) is the group supervisor, subject to (c) and to the extent this Part gives effect to the Solvency II EEA implementing measures in the EEA State of its group supervisor; and
    3. (c) where the group supervisor of a group of which a firm is a member is a supervisory authority in an EEA State other than the UK, the requirements of the Solvency II EEA implementing measures in that EEA State apply to the firm in relation to its capacity as a member of that group;
  2. (2) in accordance with Insurance General Application 3, the Society as a mixed activity insurance holding company, as modified by 21; and
  3. (3) a UK holding company.

7.1

01/01/2016

The calculation of the solvency at the level of the group of the Solvency II undertakings referred to in 2.1(1) must be carried out:

  1. (1) in accordance with the technical principles in 8 to 10; and
    1. [Note: Art. 220(1) of the Solvency II Directive]
  2. (2) in accordance with method 1, unless the group supervisor has determined under Article 220(2) of the Solvency II Directive that method 2 or a combination of method 1 and method 2 must be applied.
    1. [Note: Art. 220(2) of the Solvency II Directive]