Content Options

Content Options

View Options

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 risk transformation

    159the regulated activity specified in article 13A of the Regulated Activities Order (Transformer vehicles: insurance risk transformation) which is, in summary, the activity of an undertaking (‘A’) assuming a risk from an undertaking (‘B’) where:

      1. (1) B assumes a risk under a contract of insurance (‘the underlying risk’); and
      1. (2) the assumption of risk by A has the legal or economic effect of transferring some or all of the underlying risk to A.