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Risk concentration and intra-group transactions
This section has no associated Explanatory Memorandum
10. Where the PRA is the group supervisor of a group, the PRA may decide not to supervise risk concentration or intra-group transactions within the group at a level specified in the first column of Table 1 where all the conditions specified in relation to that level in the second column of Table 1 are satisfied.
Table 1
Levels at which supervision need not be exercised | Conditions to be satisfied |
---|
The participating undertaking, insurance holding company and mixed financial holding company. | The group contains an insurance undertaking or reinsurance undertaking and either— |
| (a) the parent undertaking of the insurance undertaking or reinsurance undertaking is an insurance holding company or a mixed financial holding company which has its head office in an EEA State; or |
| (b) the insurance undertaking or reinsurance undertaking is a participating undertaking in at least one insurance undertaking, reinsurance undertaking, third-country insurance undertaking or third-country reinsurance undertaking;
|
The participating undertaking, insurance holding company or mixed financial holding company referred to above is, or is a related undertaking of, a regulated entity or mixed financial holding company subject to supplementary supervision in accordance with Article 5(2) of the Financial Conglomerates Directive. |
The PRA has consulted the other supervisory authorities concerned in supervising the group. |
The ultimate EEA solvency 2 parent. | The parent undertaking of an ultimate EEA solvency 2 parent is subject to supplementary supervision in accordance with Article 5(2) of the Financial Conglomerates Directive. |
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