Senior Insurance Managers Regime - Transitional Provisions General

Application provision

1.1 Unless otherwise stated, this Part applies to:

  1. (1) a firm that, on the effective date, has a Part 4A permission for effecting contracts of insurance or carrying out contracts of insurance and which will with effect from 1 January 2016 be:
    1. (a) a UK Solvency II firm;
    2. (b) a third country branch undertaking (other than a Swiss general insurer); or
    3. (c) a UK ISPV;
  2. (2) the Society, as modified by 9; and
  3. (3) managing agents, as modified by 9.

2.1

19/08/2015

The PRA directs that a firm must make a grandfathering notification using Form K before 8 February 2016.

2.2

19/08/2015

The PRA directs that the notice required by article 6(1) of the Transitional Order must be provided to the PRA using Form K.

2.3

19/08/2015

The PRA directs that the notice required by article 11(b) of the Transitional Order in respect of a candidate for whom continued approval is sought must be provided to the PRA in Form K as part of a grandfathering notification.