When the statutory auditor of an undertaking referred to in Articles L. 310-1 or L. 310-1-1, of a société de groupe d’assurance referred to in Article L. 322-1-2, of a mutuelle or union governed by Book II of the Code de la mutualité, of a union mutualiste de groupe referred to in Article L. 111-4-2 of the same code, a provident institution or a union governed by Title 3 of…
The valuation methods and translation rules applicable to items expressed in foreign currencies are those laid down for insurance undertakings by this Book, subject to the necessary adaptations for consolidated or combined accounts laid down by a regulation of the Autorité des normes comptables.
The consolidated or combined balance sheet, profit and loss account and notes include the items in the models mentioned in article R. 341-3, subject to the necessary adaptations to the consolidated or combined accounts set out in a regulation of the Autorité des normes comptables.
The Autorité de contrôle prudentiel et de résolution may determine, after consultation with the Consultative Commission referred to in I of Article L. 612-14 of the Monetary and Financial Code, standard files for the applications provided for in this Title, including in particular the list, format and methods of transmission of the information required. These standard files will be published electronically in the AMF’s official register.
For the application of the provisions of this Title to mutual insurers and associations governed by Book II of the Mutual Code, the following definitions apply: “mutual regulations or membership form” where “contract” is referred to in this Code, “the risks mentioned in a and b of 1° of Article L. 111-1 of the Mutual Code” where “the risks mentioned in 1° and 2° of Article L. 310-1 ” and…
The methods and assumptions to be used when valuing prudential assets and liabilities are defined in Articles 7 to 16 of Commission Delegated Regulation (EU) 2015/35 of 10 October 2014. An Order of the Minister responsible for the economy specifies the application of the materiality principle and the methods for recognising and valuing prudential assets and liabilities relating to employee benefits, share-based payments, deferred tax and forward financial instruments.
I – The value of the prudential technical provisions referred to in Article L. 351-2 is equal to the sum of the best estimate and the risk margin. II – The best estimate corresponds to the probability-weighted average of future cash flows taking into account the time value of money estimated on the basis of the relevant risk-free rate curve, i.e. the expected present value of future cash flows. The…
For the undertakings referred to in Article L. 310-3-1 which are authorised to carry out the operations referred to in 1° of Article L. 310-1, the calculation of the best estimate referred to in II of Article R. 351-2 takes account of the payments and withdrawals which would be made from the capitalisation reserve constituted on the calculation date, in accordance with the provisions of Article R. 343-14, throughout the…
The determination of the relevant risk-free yield curve referred to in Article R. 351-2 uses information derived from relevant financial instruments and remains consistent with this information. This determination takes into account the relevant financial instruments for maturities at which the markets for these financial instruments, like the bond markets, are deep, liquid and transparent. For maturities at which the markets for the relevant financial instruments or bonds are no…
I.-Insurance and reinsurance undertakings may apply an equalising adjustment to the relevant risk-free interest rate curve to calculate the best estimate of a portfolio of life insurance or reinsurance liabilities, including annuities arising from non-life insurance or reinsurance contracts, subject to the agreement of the Autorité de contrôle prudentiel et de résolution, where the following conditions are met: 1° Insurance and reinsurance undertakings have assigned a portfolio of assets made…
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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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