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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.

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 insurer48166 48 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 Regulation 2 of the Financial Groups Directive Regulations166 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) 102181[deleted]102181
        1. (c) the definition of material insurance holding;52paragraph (1)(b) of this definition does not apply.