Prudential Regulation Authority Rulebook

1.

The single SFCR, as provided for in Group Supervision 18.1(2), shall present separately the information which must be disclosed at group level in accordance with Group Supervision 18.1(1) and the information which must be disclosed in accordance with Reporting 3 to 6 for any subsidiary covered by that report.

2.

The information at group level and the information for any subsidiary covered by the single SFCR, as provided for in Article 7F(1) of Chapter 3A, shall each follow the structure set out in Article 1A of Chapter 3A. Firms may decide, when providing any part of the information to be disclosed for a subsidiary covered, to refer to information at group level, where that information is equivalent in both nature and scope.

3.

Where a firm provides a single SFCR in accordance with Group Supervision 18.1(2) in respect of some of their subsidiaries only, the following obligations shall apply:

1. (a) the other insurance undertakings which are subsidiaries of that firm shall include in their SFCR a reference to the single SFCR disclosed; and
2. (b) the single SFCRs disclosed in accordance with Group Supervision 18.1(2) shall equally include a reference to the SFCR of those other insurance undertakings.

4.

Where firms do not provide a single SFCR, the insurance undertakings which are subsidiaries of that firm shall include in their SFCR a reference to the SFCRs at the level of the group disclosed in accordance with Group Supervision 18.1(1).