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social insurance

    (in relation to a class of contract of insurance) the class of contract of insurance, specified in paragraph IX of Part II of Schedule 1 to the Regulated Activities Order (Contracts of long-term insurance), of a kind referred to in article 2(3)(c)130 70 of the Solvency II Directive 130 ("operations relating to the length of human life which are prescribed by or provided for in social insurance legislation, in so far as130 they are effected or managed by life insurance undertakings130 at their own risk in accordance with the laws of an EEA State"). 5