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admissible asset

      1. (1) (37for the purpose of the rules in GENPRU and INSPRU as they apply to members of the Society of Lloyd's, the Society and managing agents37) an asset that 2128, subject to paragraphs (2) and (3) of GENPRU 2 Annex 7,38 falls into one or more categories in 37paragraph (1) ofGENPRU 2 Annex 737 as modified by 37 GENPRU 2.3.34 R 37 .28
      1. (2)21 otherwise:33
        1. (a) (in relation to an insurer which is not a pure reinsurer) an asset that, subject to paragraphs (2) and (3) of GENPRU 2 Annex 7,38 falls into one or more categories in paragraph (1) of GENPRU 2 Annex 73837; or33
        1. (b) (in relation to a pure reinsurer) an asset the holding of which is consistent with compliance by the firm with INSPRU 3.1.61A R.33