ancillary insurance services undertaking
14(in relation to any undertaking in a consolidation group, sub-group or other group of persons) an undertaking complying with the following conditions:
- (a) its principal activity consists of:
- (i) owning or managing property; or
- (ii) managing data-processing services; or
- (iii) any other similar activity;
- (b) the activity in (a) is ancillary to the principal activity of one or more insurance undertakings; and37
- (c) those insurance undertakings are also members of that consolidation group, sub-group or other group of persons37.37 37