Glossary | Prudential Regulation Authority Handbook & Rulebook

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(in relation to any undertaking in a consolidation group, sub-group or other group of persons) an undertaking complying with the following conditions:
(a) its principal activity consists of:
(i) owning or managing property; or
(ii) managing data-processing services; or
(iii) any other similar activity;
(b) the activity in (a) is ancillary to the principal activity of one or more insurance undertakings; and
(c) those insurance undertakings are also members of that consolidation group, sub-group or other group of persons.
- 01/01/2007
- Legal Instruments that change this definition ancillary insurance services undertaking