Glossary

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Term Definition Legal instruments

insurance holding company

31/12/2020

The changes to this defined term are effective from 23:00 on 31/12/2020.

means a parent undertaking, other than a UK Solvency II firm and a mixed financial holding company, the main business of which is to acquire and hold participations in subsidiary undertakings and which fulfils the following conditions:

(1) its subsidiary undertakings are either exclusively or mainly UK Solvency II firms, third country insurance undertakings or third country reinsurance undertakings; and

(2) at least one of those subsidiary undertakings is a UK Solvency II firm.

Additional Notes

[Note: Art. 212(1)(f) of the Solvency II Directive]

Instruments