(1) An insurer or reinsurer is subject to supervision as prescribed by Regulation 7, 9, 11 and 12 if it -
(a) holds an authorisation issued by the Bank, and
(b) is a participating undertaking in at least one insurer, reinsurer, asset management company, alternative investment fund manager, third country insurer or third country reinsurer.
(2) An insurer or reinsurer is subject to supervision as prescribed by Regulations 9, 11 and 13 if it -
(a) holds an authorisation issued by the Bank, and
(b) is the subsidiary of an insurance holding company, a mixed financial holding company, an asset management company, an alternative investment fund manager, a third country insurer or a third country reinsurer.
(3) An insurer or reinsurer is subject to supervision as prescribed by Regulations 9 and 11 if it -
(a) holds an authorisation issued by the Bank, and
(b) is the subsidiary of a mixed-activity insurance holding company.
(4) The supervision referred to in paragraphs (1) to (3) is supplementa
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