major business unit

Definitions over time (2)

02/04/2016 – today applies on 12/11/2026 Article 1, Commission Delegated Regulation (EU) 2015/35 Scope: Whole act

For the purposes of this Regulation, the following definitions shall apply:

in relation to an insurance or reinsurance group, ‘major business unit’ means a defined segment of the group that operates independently from other parts of the group and has dedicated governance resources and procedures within the group and which contains risks that are material in relation to the entire business of the group; any legal entity belonging to the group is a major business unit or consists of several major business units;
17/01/2015 – 18/01/2015 Article 1, Commission Delegated Regulation (EU) 2015/35 Scope: Whole act

For the purposes of this Regulation, the following definitions shall apply:

in relation to an insurance or reinsurance group, ‘major business unit’ means a defined segment of the group that operates independently from other parts of the group and has dedicated governance resources and procedures within the group and which contains risks that are material in relation to the entire business of the group; any legal entity belonging to the group is a major business unit or consists of several major business units;

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