For the purposes of this Regulation, the following definitions shall apply:

1. (1)

   ‘insurance-led financial conglomerate’ means a financial conglomerate the most important financial sector of which is insurance, in accordance with Article 3(2) of Directive 2002/87/EC;

2. (2)

   ‘banking-led or investment-led financial conglomerate’ means a financial conglomerate the most important financial sector of which is either the banking sector or the investment services sector, in accordance with Article 3(2) of Directive 2002/87/EC.