Glossary
The Rulebook Glossary contains defined terms used in more than one Part across the PRA Rulebook.
The full Glossary can be downloaded as a PDF or printed using the icons to the right.
| Term | Definition | Legal instruments for this definition |
|---|---|---|
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01/01/2016 |
means a template which a firm is required to complete pursuant to Reporting 2.6 and 2.8. |
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01/01/2016 |
means the premium that is calculated to provide the basic sum assured under a with-profits policy taking into consideration only the mortality and interest rate risks and using the same assumptions as used in the calculation of the mathematical reserves. |
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non-core large exposures group or NCLEG 03/08/2015 |
has the meaning given in the Large Exposures Part. |
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03/01/2018 |
(in accordance with the Financial Services and Markets Act 2000 (Controllers) (Exemption) Order 2009 (SI 2009/774)) a UK domestic firm other than: (1) a credit institution authorised under the Banking Consolidation Directive; (2) an investment firm authorised under MiFID II; (3) a management company as defined in article 2(1)(b) of the European Parliament and Council Directive of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (No 2009/65/EC),1 2, 3, 4, as amended (the UCITS Directive), authorised under that directive; (4) a Solvency II undertaking, the Society and managing agents. |
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non-directive friendly society 01/01/2016 |
means a friendly society that is not a UK Solvency II firm. |
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08/12/2017 |
means a firm with a Part 4A permission to effect contracts of insurance or carry out contracts of insurance, other than: (1) a UK Solvency II firm; and |
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07/03/2016 |
means a director of a firm who does not perform an executive function in relation to that firm. |
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01/01/2016 |
means the business of effecting contracts of insurance or carrying out contracts of insurance that are non-profit policies. |
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01/01/2016 |
means a contract of long-term insurance which is not a with-profits policy. |
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01/01/2016 |
means a firm that immediately before the Solvency II implementation date fell outside the scope of each of the Solvency I Directives. |
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01/01/2016 |
means an ICVC, authorised unit trust scheme, or an authorised contractual scheme which is not a collective investment scheme falling within the UCITS Directive or a qualified investor scheme. |
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notified non-executive director 07/03/2016 |
means a non-executive director of a firm who is not an approved person in relation to that firm. |
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01/01/2016 |
means the notional minimum capital requirement calculated under Composites 4.2(1). |
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01/01/2016 |
means the notional solvency capital requirement for long-term insurance business, calculated in accordance with the Solvency II Regulations. |
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01/01/2016 |
means the notional minimum capital requirement calculated under Composites 4.2(2). |
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01/01/2016 |
means the notional solvency capital requirement for general insurance business, calculated in accordance with the Solvency II Regulations. |