BIM24690 - Meaning of trade: mutual trading and members clubs: mutual associations: specific activities: mutual health insurers: two interrelated questions
You need to consider two interrelated questions:
- whether the mutual health insurer is carrying on a trade, and
- if the mutual health insurer is trading, the extent to which that trade is mutual trading.
The absence of a profit-seeking motive does not preclude a finding of trading - see BIM24045.