Prudential Regulation Authority Rulebook

3.1

3.2

[Deleted.]

3.3

A third country branch undertaking (except a third country branch undertaking that has a third country pure reinsurance branch) must hold on deposit as security in the UK with a CRD credit institution assets of an amount equal to at least:

1. (1) £600,000 for a third country insurance branch whose insurance business is limited to general insurance business, except in the case where all or some of the general insurance business classes 10 to 15 are covered, in which case the amount must be at least £875,000;
2. (2) £875,000 for a third country insurance branch whose insurance business is limited to long-term insurance business; or
3. (3) the sum of the amounts set out in (1) and (2) for a third country insurance branch that is a composite third country branch.