Glossary
Looking for the right term then try the glossary:
Term | Definition | Legal instruments |
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Solvency II excluded operations 01/01/2016 |
THIS DEFINITION ONLY APPLIES TO THE INSURANCE GENERAL APPLICATION PART
means: (1) a mutual whose insurance business is restricted to the provision of benefits which vary according to the resources available and in which the contributions of the members are determined on a flat- rate basis; or (2) a mutual whose liabilities in respect of contracts of general insurance must be fully reinsured with or guaranteed by other mutuals (including friendly societies) and the mutuals providing the reinsurance or the guarantees are Solvency II undertakings. |
Instruments |