Article 1 Amendments to Directive 98/78/EC
Directive 98/78/EC is amended as follows:
(1) Article 1 is amended as follows:
(a) point (j) is replaced by the following:
'(j) "mixed-activity insurance holding company" means a parent undertaking, other than an insurance undertaking, a non-member-country insurance undertaking, a reinsurance undertaking, a non-member-country reinsurance undertaking, an insurance holding company or a mixed financial holding company, which includes at least one insurance undertaking or a reinsurance undertaking among its subsidiary undertakings;';
(b) the following point is added:
'(m) "mixed financial holding company" means a mixed financial holding company as defined in Article 2(15) of Directive 2002/87/EC;';
(2) Article 2(2) is replaced by the following:
'2. Every insurance undertaking or reinsurance undertaking the parent undertaking of which is an insurance holding company, a mixed financial holding company, a non-member-country insurance or a non-member-country reinsurance undertaking shall be subject to supplementary supervision in the manner prescribed in Article 5(2) and Articles 6, 8 and 10.';