Notwithstanding the provisions of this section, authorised undertakings may only obtain an extension of their authorisation to operate in other classes mentioned in 1 to 18 of Article R. 321-1 if they can demonstrate that their solvency margin is at least equal to the regulatory amount.
The undertakings referred to in Article R. 310-10-1, authorised on 4 July 1993 to conduct one or more of the classes of business referred to in Article R. 321-1 within the territory of the French Republic, and which comply with the permanent regulatory provisions relating to technical provisions, the solvency margin and the guarantee fund, as well as the undertakings referred to in 1° of Article L. 310-10-1, which comply…
The provisions of this chapter, with the exception of section VIII, are applicable in the territories of New Caledonia, French Polynesia, the French Southern and Antarctic Territories and Wallis and Futuna.
When the Autorité de contrôle prudentiel et de résolution requires an insurance undertaking to submit a recovery plan pursuant to Article L. 612-32 of the Monetary and Financial Code, the plan must include, in particular, a detailed description of the following items for the next three financial years, accompanied by the relevant supporting documents: 1° A forecast of management expenses, in particular current overheads and commissions ; 2° A detailed…
I.-On the basis of the recovery plan referred to in Article R. 335-1 , or in the absence of communication of this plan within one month of the request, the Autorité de contrôle prudentiel et de résolution may require an insurance undertaking to provide a reinforced solvency margin in excess of the minimum margin requirement referred to in Article R. 334-5, Article R. 334-13 or Article R. 334-19, as the…
When the Autorité de contrôle prudentiel et de résolution considers that the results of the solvency test referred to in Article R. 336-7 indicate a solvency risk, it may deduct from the items making up the margin the deferred charges established pursuant to Article R. 343-6.
When the solvency margin of an undertaking referred to in article L. 310-3-2 does not reach the regulatory amount, the Autorité de contrôle prudentiel et de résolution, without prejudice to the implementation of the powers at its disposal under the terms of sections 6 and 7 of Chapter II of Title I of Book VI of the Monetary and Financial Code, requires a recovery plan, which must be submitted for…
When the solvency margin of an undertaking referred to in Article L. 310-3-2 does not reach the guarantee fund, or if the fund is not constituted in accordance with the regulations, the Autorité de contrôle prudentiel et de résolution, without prejudice to the implementation of the powers at its disposal under the terms of Sections 6 and 7 of Chapter II of Title 1 of Book VI of the Monetary…
When the Autorité de contrôle prudentiel et de résolution temporarily suspends, restricts or prohibits the free disposal of all or part of the assets of an insurance undertaking, pursuant toArticle L. 612-33 of the French Monetary and Financial Code, it may also register the mortgage referred to in Articles L. 327-3 of this Code, L. 212-24 of the French Mutual Code and L. 931-23 of the French Social Security Code…
The undertakings referred to in Article L. 310-3-2 are required to set up a permanent internal control system. At least once a year, the Board of Directors or the Supervisory Board approves a report on internal control, which is sent to the Autorité de contrôle prudentiel et de résolution. The first part of this report details the conditions under which the work of the Board of Directors or the Supervisory…
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is a Registered Trademark of
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75001, Paris France
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Paris Bar Registration n° (Toque) C2396
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