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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

Status: In this content, we have included all amendments made by EU exit-related instruments up to end September 2020. There will be more amendments to be made later this year, further to the September QCP.

insurance holding company

      1. 27(1) a parent undertaking, other than an insurance undertaking, the main business of which is to acquire and hold participations in subsidiary undertakings and which fulfils the following conditions:
        1. (a) its subsidiary undertakings are either exclusively or mainly insurance undertakings; and48
        1. (b) at least one of those subsidiary undertakings is 48an insurer48 or an EEA firm that is a regulated insurance entity48 or a reinsurance undertaking;48a parent undertaking, other than an insurance undertaking, that fulfils the conditions in paragraphs (1) (a) and (b) of this definition is not an insurance holding company if:48
        1. (c) 48it is a mixed financial holding company; and48
        1. (d) notice has been given in accordance with Article 4(2) of the Financial Groups Directive that the financial conglomerate of which it is a mixed financial holding company is a financial conglomerate.48
      1. 27(2) For the purposes of:
        1. (a) the definition of the insurance sector;52
        1. (b) 102177[deleted]102177
        1. (c) the definition of material insurance holding;52paragraph (1)(b) of this definition does not apply.