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long-term insurance capital requirement

means:93

  1. (a) (for a non-directive friendly society) the required margin of solvency with respect to long-term insurance business, as calculated under rule 3.1 of the Friendly Society – Overall Resources and Guarantee Fund part of the PRA Rulebook;93
  2. (b) (for a non-directive insurer other than a non-directive friendly society) the requirement in rule 14.1 of the Insurance Company – Capital Resources Requirement part of the PRA Rulebook; and93
  3. (c) (for a Solvency II firm) the equivalent PRA rules transposing the Solvency II directive.93