Community co-insurersU.K.
11.—(1) There is excluded from article 10(1) or (2) the effecting or carrying out of a contract of insurance by an EEA firm falling within paragraph 5(d) of Schedule 3 to the Act—
(a)other than through a branch in the United Kingdom; and
(b)pursuant to a Community co-insurance operation in which the firm is participating otherwise than as the leading insurer.
(2) In paragraph (1), “Community co-insurance operation" and “leading insurer" have the same meaning as in [F1Article 190 of the Solvency 2 Directive].
Textual Amendments
F1Words in art. 11(2) substituted (1.1.2016) by The Solvency 2 Regulations 2015 (S.I. 2015/575), reg. 1(2), Sch. 2 para. 11(3)