CBB Volume 3: Contents
[ U ]
Ultimate parent undertaking
The highest parent insurance undertaking of the insurance firm or the holding company whose predominant investment are shares of the insurance firm(s) (wherever established) that is not itself the subsidiary undertaking of another undertaking.
The amount set aside by a company at the end of its financial year out of premiums in respect of risks to be borne by the company after the end of the financial year under contracts of insurance entered into before the end of that year.
Unit-linked investment adviser
An insurance intermediary that advises clients in relation to insurance products of an investment nature, including but not limited to those providing retirement income and pensions.
A collective investment scheme under which the property in question is held in trust for the participants.