S.L. 403.17 Art. 26Group solvency of an insurance holding company or a mixed financial holding company.

(1) Where the competent authority is the group supervisor of a group, the authority shall, where authorised insurance undertakings, authorised reinsurance undertakings, European insurance undertakings or European reinsurance undertakings are subsidiaries of an insurance holding company or of a mixed financial holding company, ensure that the calculation of the solvency of the group is carried out at the level of the insurance holding company or the mixed financial holding company applying Article 220(2) to Article 233 of the Solvency II Directive.

(2) For the purpose of that calculation, the insurance holding company or mixed financial holding company shall be treated as if it were an insurance or reinsurance undertaking subject to the rules laid down in Articles 100 to 127 of the Solvency II Directive as regards the Solvency Capital Requirement and subject to the same conditions as laid down in Article 87 to 99 of the Solvency II Directive as regards the own funds eligible for the Solvency Capital Requirement.