SUP 13 Annex 1 Requisite details: branches R

1

Credit institution2

(a)

particulars of the programme of operations carried on, or to be carried on, from the branch, including a description of the particular EEAactivities to be carried on, and of the structural organisation of the branch;

(b)

the address in the EEA State in which the branch is, or is to be, established from which information about the business may be obtained; and

(c)

the names of the managers of the branch.2

21A

MiFID investment firm

(a)

The EEA States within the territory of which the UK firm plans to establish a branch;

2[Note: Article 32(2)]

(b)

the programme of operations to be carried on from the branch, including a description of the investment services and activities and ancillary activities to be carried on and of the structural organisation of the branch;

2(c)

the address in the EEA State in which the branch is to be established from which information about the business may be obtained;

2(d)

the names of the managers of the branch; and

2(e)

whether the branch intends to use tied agents.

2

UCITS management company

The information required under 1 above, plus: the EEA State within the territory of which the UCITS management company plans to establish abranch;

3

Insurance undertaking

(1) (a)

the address of the branch;

(b)

the name of the UK firm's authorised agent (see note 3) and, in the case of a member of Lloyd's, confirmation that the authorised agent has power to accept service of proceedings on behalf ofLloyd's;

(c)

the classes or parts of classes of business carried on, or to be carried on, and the nature of the risks or commitments covered, or to be covered, in the EEA State concerned;

(d)

details of the structural organisation of the branch;

(e)

the guiding principles as to reinsurance of business carried on, or to be carried on, in the EEA State concerned, including the firm's maximum retention per risk or event after all reinsurance ceded ;

(f)

estimates of:

(i)

the costs of installing administrative services and the organisation for securing business in the EEA State concerned;

(ii)

the resources available to cover those costs; and

(iii)

if contracts of a kind falling within paragraph 18 of Schedule 1 to the Regulated Activities Order (assistance) are, or are to be, effected or carried out, the resources available for providing assistance;

(g)

for each of the first three years following the establishment of the branch:

(i)

estimates of the firm's margin of solvency and the margin of solvency required and the method of calculation;

(ii)

if the firm carries on, or intends to carry on, business comprising the effecting or carrying out of contracts of long-term insurance, the details mentioned in paragraph (2) as respects the business carried on, or to be carried on, in the EEA State concerned; and

(iii)

if the firm carries on, or intends to carry on, business comprising the effecting or carrying out of contracts of general insurance, the details mentioned in paragraph (3) as respects the business carried on, or to be carried on, in the EEA State concerned;

(h)

if the firm covers, or intends to cover, relevant motor vehicle risks, details of the firm membership of the national bureau and the national guarantee fund in the EEA State concerned; and

(i)

if the firm covers, or intends to cover, health insurance risks, the technical bases used, or to be used, for calculating premiums in respect of such risks .

(2)

The details referred to in (1)(g)(ii) are:

(a)

the following information, on both optimistic and pessimistic bases, for each type of contract or treaty:

(i)

the number of contracts or treaties expected to be issued;

(ii)

the total premium income, both gross and net of reinsurance ceded;

(iii)

the total sums assured or the total amounts payable each year by way of annuity ;

(b)

detailed estimates, on both optimistic and pessimistic bases, of income and expenditure in respect of direct business, reinsurance acceptances and reinsurance cessions; and

(c)

estimates relating to the financial resources intended to cover underwriting liabilities.

(3)

The details referred to in (1)(g)(iii) are:

(a)

estimates relating to the expenses of management (other than the costs of installation), and in particular those relating to current general expenses and commissions;

(b)

estimates relating to premiums or contributions (both gross and net of all reinsurance ceded) and to claims (after all reinsurance recoveries); and

(c)

estimates relating to the financial resources intended to cover underwriting liabilities .3

34

Pure reinsurer

(a)

the address of the branch;

(b)

the name of the firm's authorised agent (see note 3);

(c)

whether the firm will be, or is, carrying on life or non-life reinsurance business, or both;

(d)

confirmation that the firm fulfils the solvency requirements of the Reinsurance Directive.

Notes

Note 1: The requisite details2 or relevant details specified in this annex are those in the EEA Passport Rights Regulations; that is, those in regulation 1 for credit institutions and MiFID investment firms, 2and those in regulation 14 for insurance undertakings. The relevant details specified for pure reinsurers are those in the General Protocol, under which Home State regulators have agreed to inform Host State regulators if a pure reinsurer carries on business through a branch in the Host State.3

Note 2: In this table, the references to classes of insurance have the meaning given to them in Schedule 1 to the Regulated Activities Order.

Note 3: For the purposes of this table, 'authorised agent' means an agent or employee of the insurance undertaking who has authority (a) to bind the insurance undertaking in its relations with third parties, and (b) to represent the insurance undertaking in its relations with overseas regulators and courts in the EEA States of the branch.1