Large Non-Solvency II Firms – Certification Certification Functions

Application provision

1.1 Unless otherwise stated, this Part applies to:

  1. (1) a large non-directive insurer; and
  2. (2) a Swiss general insurer.

2.1

10/12/2018

For the purposes of this Part, the following are certification functions: 

  1. (1) a function performed for a firm by a key function holder at the firm; 
  2. (2) a function performed by a material risk taker at a large firm.

2.2

10/12/2018

A function is only a certification function to the extent that the function relates to a regulated activity carried on by a firm.