BUSINESS AND COMPETITION|business organisation · FINANCE|insurance
- móraonad gnó Reference Faomhadh an téarma seo mar chuid de Thionscadal Lex
- ga
- major business unit
- en
- Definition (i) in relation to an insurance or reinsurance undertaking, a defined segment of the insurance and reinsurance undertaking that operates independently from other parts of the undertaking and has dedicated governance resources and procedures within the undertaking and which contains risks that are material in relation to the entire business of the undertaking; (ii) in relation to an insurance or reinsurance group, 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 Reference COM-EN, based on: Delegated Regulation (EU) 2015/35 supplementing Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II), CELEX:32015R0035/EN