# The Insurance and Reinsurance Undertakings (Prudential Requirements) Regulations 2023, Regulation 12: Effect of designation: reinsurance contracts


(1) Where regulations are in force under regulation 11 in respect of an overseas jurisdiction in relation to this regulation, the PRA must treat a reinsurance contract entered into by an insurance undertaking or reinsurance undertaking with an overseas reinsurance undertaking in that jurisdiction in the same manner as a non-overseas reinsurance contract for the purposes of the prudential regulation of the insurance undertaking or reinsurance undertaking.
(2) In this regulation, “non-overseas reinsurance contract” means a reinsurance contract entered into by an insurance undertaking or reinsurance undertaking with an insurance undertaking or reinsurance undertaking.

---
Source: https://www.legislation.gov.uk/uksi/2023/1347/regulation/12 (the official version)
Page: https://openlegislation.uk/insurance-and-reinsurance-undertakings-prudential-requirements-regulations-2023/regulation-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.