{
  "url": "https://openlegislation.uk/insurance-companies-act-1982-repealed/schedule-1",
  "json_url": "https://openlegislation.uk/insurance-companies-act-1982-repealed/schedule-1.json",
  "legislation": "ukpga/1982/50",
  "legislation_title": "Insurance Companies Act 1982 (repealed)",
  "legislation_url": "https://openlegislation.uk/insurance-companies-act-1982-repealed",
  "path": "schedule/1",
  "kind": "schedule",
  "number": "1",
  "heading": "Classes of Long Term Business",
  "text": "Number\nDescription\nNature of business\nI\nLife and annuity.\nEffecting and carrying out contracts of insurance on human life or contracts to pay annuities on human life, but excluding (in each case) contracts within Class III below.\nII\nMarriage and birth.\nEffecting and carrying out contracts of insurance to provide a sum on marriage or on the birth of a child, being contracts expressed to be in effect for a period of more than one year.\nIII\nLinked long term.\nEffecting and carrying out contracts of insurance on human life or contracts to pay annuities on human life where the benefits are wholly or partly to be determined by reference to the value of, or the income from, property of any description (whether or not specified in the contracts) or by reference to fluctuations in, or in an index of, the value of property of any description (whether or not so specified).\nIV\nPermanent health.\nEffecting and carrying out contracts of insurance providing specified benefits against risks of persons becoming incapacitated in consequence of sustaining injury as a result of an accident or of an accident of a specified class or of sickness or infirmity, being contracts that—\n(a) are expressed to be in effect for a period of not less than five years, or until the normal retirement age for the persons concerned, or without limit of time, and\n(b) either are not expressed to be terminable by the insurer, or are expressed to be so terminable only in special circumstances mentioned in the contract.\nV\nTontines.\nEffecting and carrying out tontines.\nVI\nCapital redemption.\nEffecting and carrying out capital redemption contracts.\nVII\nPension fund management.\nEffecting and carrying out—\n(a) contracts to manage the investments of pension funds, or\n(b) contracts of the kind mentioned in paragraph (a) above that are combined with contracts of insurance covering either conservation of capital or payment of a minimum interest.\nVIII\nCollective insurance etc.\nEffecting and carrying out contracts of a kind referred to in Article 1(2)(e) of the first long term insurance Directive.\nIX\nSocial insurance\nEffecting and carrying out contracts of a kind referred to in Article 1(3) of the first long term insurance Directive.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Classes VIII, IX in Sch. 1 inserted (1.7.1994) by S.I. 1994/1696, reg. 3"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1982/50/schedule/1",
    "retrieved_at": "2026-10-29T10:10:47.436123+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}