1In section 431(2) of the Taxes Act 1988 (interpretative provisions relating to insurance companies), insert the following at the appropriate places in alphabetical order—
“pension business” has the meaning given by section 431B;
“life reinsurance business” has the meaning given by section 431C;
“overseas life assurance business” has the meaning given by section 431D;
“basic life assurance and general annuity business” has the meaning given by section 431F;
“reinsurance business” includes retrocession business.