The Board of Directors or Supervisory Board approves the reinsurance policy guidelines at least once a year.
A report on the reinsurance policy is submitted to the Board each year.
This report describes
a) the guidelines adopted by the undertaking in respect of reinsurance cessions, in particular as regards the nature and level of protection sought and the choice of cessionary undertakings ;
b) The qualitative and quantitative criteria used by the company to ensure that its reinsurance cessions are appropriate to the risks underwritten;
c) the reinsurance policy guidelines concerning the risks underwritten during the financial year following the last financial year for which the accounts have been closed, as well as the main reinsurance cessions;
d) The organisation for defining, implementing and monitoring the reinsurance programme;
e) the analysis and monitoring methods used by the undertaking with regard to the counterparty risk associated with its reinsurance cessions and the conclusions resulting from the use of these methods.
Once approved, this report may be included in the solvency report referred to in Article L. 336-1.