Term
Definition
Letter: A
ancillary insurance services undertaking
(1) (in the Financial Conglomerates Part of the PRA Rulebook) has the meaning given in Financial Conglomerates 1.4;
(2) (in relation to the Group Supervision Part of the PRA Rulebook) means, in relation to any undertaking in a group, an undertaking complying with the following conditions:
(a) its principal activity consists of:
(i) owning or managing property;
(ii) managing data-processing services;
(iii) providing health and care services; or
(iv) any other similar activity;
(b) the activity in (a) is ancillary to the principal activity of one or more insurance undertakings; and
(c) those insurance undertakings are also members of that group.
- 07/07/2023
ancillary services undertaking
means an undertaking, the principal activity of which consists of owning or managing property, managing data-processing services, or a similar activity which is ancillary to the principal activity of one or more credit institutions, investment firms or insurers.
- 01/01/2016
Article 109 undertaking
- 29/12/2020
Article 18(5) relationship
means a relationship where undertakings are linked by participations or capital ties other than those referred to in paragraphs (1) and (4) of Article 18 of the CRR.
- 29/12/2020
Article 18(6) relationship
means a relationship of one of the following kinds:
(1) where an institution exercises a significant influence over one or more institutions or financial institutions, but without holding a participation or other capital ties in these institutions; or
(2) where two or more institutions or financial institutions are placed under single management other than pursuant to a contract or clauses of their memoranda or articles of association.
- 01/01/2016