Book III: Companies

When an undertaking invests, directly or indirectly, in negotiable debt securities, bonds, units or shares mentioned in 2°, 2°c or 6° of A of article R. 332-2 as well as in negotiable debt securities mentioned in 2°a of A of the same article, issued by a securitisation vehicle mentioned in article L. 310-1-2, bearing insurance risks transferred by the same undertaking or an undertaking belonging to the same scope of…

In relation to the base of dispersion constituted by the difference between the total amount of the regulated commitments mentioned in Article R. 331-1, all currencies combined, and the total amount of the assets mentioned in Articles R. 332-3-4 to R. 332-10, all currencies combined, the value on the balance sheet of an insurance undertaking referred to in Article L. 310-3-2 of each of the categories of assets listed below…

In relation to the basis of dispersion defined in Article R. 332-3, the value on the balance sheet of an insurance undertaking referred to in Article L. 310-3-2 of the assets mentioned below admitted to represent regulated commitments may not exceed, unless an exemption is granted on a case-by-case basis by the Autorité de contrôle : 1° 5% for all securities issued, claims, loans obtained or guaranteed by the same…

1° The technical provisions of insurance undertakings referred to in Article L. 310-3-2 operating both on French and Monegasque territory must be represented under the conditions laid down by French regulations; however, the assets accepted to represent said provisions may include up to 5% of the amount thereof in Monegasque movable or immovable property investments, subject to authorisation given jointly, for each undertaking or for each case, by the Autorité…

Provisions relating to business ceded to an insurance or reinsurance undertaking whose head office is in France or in another Member State or other State party to the Agreement on the European Economic Area may be represented unconditionally by a claim on that undertaking. The technical provisions relating to business ceded by an insurance undertaking to an insurance or reinsurance undertaking whose head office is in a State which is…

Net claims on the Caisse centrale de réassurance relating to operations in which this institution intervenes with the guarantee of the State are admitted to represent regulated commitments. Net claims on the following funds are also recognised: -the guarantee fund provided for by legislation on accidents at work ; -the guarantee fund referred to in Article L. 421-1 ; -Fonds de compensation des risques de l’assurance de la construction (construction…

Technical provisions corresponding to the classes mentioned in 20, 21, 22, 24 and 25 of Article R. 321-1 may be represented by: -advances on contracts ; -premiums or contributions relating to these classes of business still to be collected, up to three months from the date of collection, up to a ceiling defined by order of the Minister for the Economy and Finance. This ceiling is set according to the…

Investments accepted to represent the mathematical provisions of variable capital life insurance or capitalisation contracts, in which the sum insured is determined by reference to a reference value, are not subject to the limitations set out in articles R. 332-3 and R. 332-3-1.

The provision for unearned premiums set aside in respect of a contract by an undertaking carrying on the operations referred to in 2° or 3° of Article L. 310-1 may be represented, up to 25% of its amount, by the acquisition costs deferred in respect of this contract, net of reinsurers’ commissions deferred in respect of this same contract. The provision for unearned premiums set aside by these same companies…

For the representation of technical provisions corresponding to the classes mentioned in 4 to 7, 11 and 12 of Article R. 321-1 : 1° (Repealed) 2° Notwithstanding the provisions of Article R. 332-6, premiums or contributions are accepted under the conditions laid down by order of the Minister for the Economy and Finance; 3° Notwithstanding the provisions of Articles R. 332-3-3 and R. 332-8, claims against reinsurers are admitted under…