Prudential Regulation Authority Rulebook

6.1

This Chapter applies to managing agents.

6.2

A managing agent must not permit both general insurance business and long-term insurance business to be carried on together through any syndicate managed by it, except where:

1. (1) the long-term insurance business to be carried on by that syndicate is or is to be restricted to reinsurance; or
2. (2) the general insurance business to be carried on by that syndicate is or is to be restricted to effect contracts of insurance or carry out contracts of insurance in general insurance business class 1 (accident) or class 2 (sickness).

[Note: Art. 73(2) of the Solvency II Directive]