The Financial Services and Markets Act 2000 (Treatment of Assets of Insurers on Winding Up) Regulations 2001
These Regulations provide that assets representing an insurer’s long-term business should be available only for meeting liabilities attributable to that business (and likewise with the assets and liabilities relating to its other business). They also provide for separate general meetings of the creditors to be held in respect of liabilities attributable to an insurer’s long-term business and its other business.