Book III: Companies

Without prejudice to Article R. 351-24, the following classifications are applied for the purposes of this section: 1° The surplus funds referred to in Article R. 351-21 are classified in level 1 ; 2° Letters of credit and guarantees held in trust by an independent trustee for the benefit of insurance creditors and provided by credit institutions are classified in level 2; 3° Any future claims that mutual insurers or…

With regard to compliance with the Solvency Capital Requirement, the eligible amounts of Tier 2 and Tier 3 elements are subject to quantitative limits. These limits are defined in Article 82 of Commission Delegated Regulation (EU) No 2015/35 of 10 October 2014. Regarding compliance with the Minimum Capital Requirement, the amount of basic own-fund items eligible to cover the Minimum Capital Requirement that are classified in Tier 2 is subject…

I.-Without prejudice to the application of the provisions of Article R. 351-23, original own funds items are included in Tier 1 original own funds for a maximum period of ten years after 1 January 2016, if these items: a) Were issued before 18 January 2015 ; b) At 31 December 2015, could be used in accordance with the provisions of Chapter IV of Title III of Book III of the…

I.-The undertakings mentioned in Article L. 351-7 are prohibited from making a distribution relating to one of the items mentioned in i and ii of a of Article 69 of Commission Delegated Regulation (EU) No 2015/35 of 10 October 2014, classified in Level 1 as provided for in Article R. 351-23, in the event of non-hedging of the Solvency Capital Requirement or where such distribution is on such a scale…