Book III: Companies

I.-The double use of own funds eligible to cover the Solvency Capital Requirement of the various insurance or reinsurance undertakings taken into account in the calculation is prohibited. To this end, when calculating the solvency of the group, if the methods described in articles R. 356-19 to R. 356-22 do not so provide, the following amounts are excluded: a) The value of any assets of the undertaking mentioned in the…

When calculating group solvency, no account is taken of any own funds eligible to cover the Solvency Capital Requirement arising from reciprocal financing between the undertaking referred to in the first paragraph of Article R. 356-8 and: a) A related undertaking; b) A participating undertaking; c) Another undertaking related to any of its participating undertakings. When calculating the solvency of the group, no account is taken of any own funds…

Assets and liabilities are valued in accordance with Article L. 351-1. The methods for calculating the best estimate of the prudential technical provisions referred to in Article L. 351-2, on the basis of consolidated data, are set out in Article 339 of Commission Delegated Regulation (EU) No 2015/35 of 10 October 2014. At group level, the calculation of the risk margin, is carried out in accordance with Article 340 of…

Where the undertaking referred to in the first paragraph of Article R. 356-8 has more than one related insurance undertaking or reinsurance undertaking, each of them is taken into account in the calculation of the group solvency. Where the related insurance undertaking or the related reinsurance undertaking has its head office in another Member State, the calculation shall take account, in respect of that related undertaking, of the Solvency Capital…

I.-For the purposes of calculating the solvency of the group of an undertaking referred to in the first paragraph of Article R. 356-8 which holds, through a société de groupe d’assurance, a union mutualiste de groupe, a société de groupe assurantiel de protection sociale or a mixed financial holding company, a participation in a related insurance or reinsurance undertaking or in a third-country insurance or reinsurance undertaking, the situation of…

In order to calculate the group solvency of an undertaking mentioned in the first paragraph of Article R. 356-8 which is a participating undertaking in a credit institution, investment firm or financial institution, this undertaking applies one of the two methods defined by order of the Minister responsible for the economy. The method chosen is applied consistently over time. However, the Autorité de contrôle prudentiel et de résolution, as group…

Where the Autorité de contrôle prudentiel et de résolution in its capacity as group supervisor does not have the information necessary to calculate the group solvency of an undertaking mentioned in the first paragraph of Article R. 356-8 in relation to an affiliated undertaking having its registered office in a Member State or in a third country, the book value of that undertaking in the undertaking mentioned in the first…

I.-The group solvency of the undertaking referred to in the first paragraph of Article R. 356-8 is calculated on the basis of consolidated data. The group solvency is equal to the difference between the own funds eligible to cover the Solvency Capital Requirement, calculated on the basis of consolidated data, and the Solvency Capital Requirement at group level, calculated on the basis of consolidated data. The rules laid down in…

I.-The undertakings referred to in the first paragraph of Article R. 356-8 may apply on behalf of the group and the related undertakings concerned to the Autorité de contrôle prudentiel et de résolution in its capacity as group supervisor for authorisation to calculate, on the basis of an internal model, the consolidated Solvency Capital Requirement of the group and the Solvency Capital Requirement of insurance and reinsurance undertakings in the…

I.-Where the Autorité de contrôle prudentiel et de résolution is informed by the group supervisor, in the case of a supervisory authority of another Member State, of a request for authorisation to calculate, on the basis of an internal model, the consolidated group Solvency Capital Requirement and the Solvency Capital Requirement of insurance and reinsurance undertakings with their head office in France, it shall cooperate with the group supervisor and…