BIM24695 - Meaning of trade: Mutual trading and members clubs: mutual associations: specific activities: mutual health insurers: are they trading?
Whether particular activities are conducted in such a way as to amount to a trade is essentially a question of fact. »Ê¹ÚÌåÓýappre is detailed guidance at BIM20050 onwards. At the margin the issue can call for fine judgement.
»Ê¹ÚÌåÓýapp insurer will have been authorised under the Financial Services and Markets Act 2000 to carry on business. It seems unlikely that such business will be conducted in such a way as not to amount to a trade. But you will need to establish the facts in each case and confirm the position.