Prudential Regulation Authority Rulebook

1.

Third country branch undertakings must submit information to the PRA annually using the following templates (as applicable) in respect of the operations of the third country branch:

1. (a) where the third country branch undertaking writes suretyship business the effect of which is to improve the credit rating of the underlying security, template IR.05.07.01 of Chapter 9, specifying information on the portfolio of securities, following the instructions set out in section IR.05.07 of Chapter 10;
2. (b) where the third country branch undertaking manages a material pooling agreement, template IR.05.08.01 of Chapter 9, specifying information on the material pooling agreements, following the instructions set out in section IR.05.08 of Chapter 10; and
3. (c) where the third country branch undertaking is an assessable mutual which has called for an additional contribution after 1 January 2006, template IR.05.09.01 of Chapter 9, specifying information on calls for contributions and the financial performance of the third country branch, following the instructions set out in section IR.05.09 of Chapter 10.

2.

A third country branch undertaking falling within paragraphs 1(b) or 1(c) of this Article that does not have a Part 4A permission to effect contracts of insurance is not subject to the obligation to complete the corresponding template.

3.

Third country branch undertakings which are long-term insurers, where the net branch best estimate liabilities for with-profits insurance business are more than £500 million and the third country branch is a single with-profits fund, must submit information to the PRA annually using the following templates (as applicable) in respect of the operations of the third country branch:

1. (a) template IR.12.05.01 of Chapter 9, specifying information on value of bonus for with-profits insurance business, following the instructions set out in section IR.12.05 of Chapter 10; and
2. (b) template IR.12.06.01 of Chapter 9, specifying information on liabilities and assets for with-profits insurance business, following the instructions set out in section IR.12.06 of Chapter 10.

4.

Third country branch undertakings which are general insurers must submit information to the PRA annually using the following templates (as applicable) in respect of the operations of the third country branch:

1. (a) where the third country branch undertaking carries on insurance business and proportional and non-proportional reinsurance obligations relating to:
   1. (i) railway rolling stock;
   2. (ii) aircraft;
   3. (iii) ships;
   4. (iv) goods in transit;
   5. (v) motor vehicle liability;
   6. (vi) aircraft liability;
   7. (vii) liability of ships; or
   8. (viii) general liability,
   9. template IR.18.02.01 of Chapter 9, specifying information on the projection of future cash flows based on liabilities of the non-life business, following the instructions set out in section IR.18.02 of Chapter 10; and
2. (b) where the third country branch undertaking carries on insurance business relating to:
   1. (i) employer’s liability (including as part of a mixed commercial package);
   2. (ii) public and products liability (including as part of a mixed commercial package); or
   3. (iii) professional indemnity,
   4. template IR.19.02.01 of Chapter 9, specifying information on non-life insurance claims, following the instructions set out in section IR.19.02 of Chapter 10.

5.

Where a third country branch undertaking notifies the PRA that any of its submissions of templates under this Article are incorrect, or where the PRA notifies a third country branch undertaking that any part of the template appears to be inaccurate or incomplete, the third country branch undertaking must promptly make any appropriate corrections or adjustments and if necessary re-submit the template (or relevant part of it).