Several insurance companies under common ownership and often common management.

A group of companies consists of two or more companies in common ownership usually consisting of a holding or parent company and its subsidiaries, direct or indirect. Each company is a separate legal entity and not normally liable for its fellow group companies` liabilities. Lenders however, commonly treat groups as a single entity and bind all members by using cross guarantees and through-default provisions. For tax purposes, profits and losses may be moved within the group to use available reliefs.