This Rulebook shall apply to Captive Insurers subject to alternative provision in these Rules or where the context otherwise requires.
1.2.1 Captive Insurance Business means the business of effecting or carrying out Contracts of Insurance as a Class 1, Class 2, Class 3 or Class 4 Captive Insurer.
1.2.2 For this purpose, a Class 1, Class 2, Class 3 or Class 4 Captive Insurer may effect or carry out contracts that are limited to contracts of reinsurance for risks insured by the Cedant.
1.3.1 A Captive Insurer is an Authorised Person permitted under the conditions of its Financial Services Permission to carry on Captive Insurance Business as a Class 1, Class 2, Class 3 or Class 4 Captive Insurer.
1.3.2 An Cell Company may carry on Captive Insurance Business through some or all of its Cells (those Cells carrying on Captive Insurance Business being a Class 1, Class 2, Class 3 or Class 4 Captive Cell, as the case may be). References to a Captive Insurer in these Rules shall be construed to include, where relevant, a Ce...