Insurance companies

For the purposes of the derivative contracts rules under CTA09/PART7, activities carried on by a company in the course of

any mutual insurance or other mutual business which is not life assurance business, or

any basic life assurance and general annuity business

are treated as not constituting the whole or any part of a trade (CTA09/S634). It follows that any credits and debits arising to such a company will not be brought into account under Part 3 but they will, by virtue of CTA09/S574 be brought into account under Part 5 as non-trading credits and debits.

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