The identification of insurance and reinsurance undertakings required to perform TLPT applying the quantitative criteria in Article 2(2) of the RTS on TLPT is a two-step approach. 1. As a first step, a subset of insurance and reinsurance undertakings is identified by applying the cumulative criteria laid down in Article 2(2)(g). The first two criteria are applicable to all type of undertakings, while the third one is applicable, as specified in the RTS, only to undertakings that that pursue only life activities or both life and non-life activities. 2. As a second step, from this identified subset (in the first step) only these undertakings are identified which additionally fulfil at least one of the additional quantitative criteria given in the last subparagraph of Article 2(2). Hence, all insurance and reinsurance undertakings that are identified according to Article 2(2) of the RTS on TLPT have to fulfil the quantitative criteria of Article 2(2)(g) in a cumulative way and, additionally, at least one criteria of the last subparagraph of Article 2(2). If an insurance or reinsurance undertaking fulfil only the one criteria given in the last subparagraph of Article 2(2) and not fulfilling the cumulative criteria in Article 2(2)(g) is not sufficient. The choice of a TLPT authority to use the qualitative criteria in Article 2(1) of the RTS on TLPT to identify financial entities remains unaffected.