For life insurance or capitalisation contracts where the sum insured is determined by reference to a reference value, the corresponding rights expressed in units of account must be represented on the assets side of the balance sheet by investments included in the composition of this reference value and in the proportions fixed by this composition.
The measures taken by the insurance undertaking in application of 2° of I and 2° of II of article L. 131-4 only have effect in respect of requests to deal in the contract made after the last date on which redemption orders were centralised by the undertaking for collective investment concerned prior to its decision to suspend or temporarily cap redemptions of its units or shares. Requests for transactions on…
When the insurance company decides to restrict transactions on the contract under the conditions provided for in 2° of II of Article L. 131-4, it executes the transaction requests, to the maximum of the redemption possibilities of the units or shares on the investment undertaking concerned and taking into account its own capacity for compensation between subscription and redemption requests, within the period provided for in the normal conditions of…
When it takes one of the measures provided for in 2° of I and 2° of II of article L. 131-4, the insurance undertaking shall make available to policyholders, members and beneficiaries, by any means and at least by a mention on its website, information comprising the following items: 1° The name of the units of account concerned ; 2° A description of the measures taken and their planned or…
The notification to the Autorité de contrôle prudentiel et de résolution of the decision by the insurance undertaking to suspend or restrict operations on the contract under the conditions provided for in 2° of II of Article L. 131-4 describes the reasons justifying its decision, taking into account the assessment factors provided for in the last paragraph of II of this Article. It shall be accompanied by the documents and…
The insurer may automatically substitute surrender for the reduction if the surrender value of the contract is less than half the gross monthly amount of the minimum growth wage applicable in mainland France, calculated on the basis of the legal working week, in force on 1 July preceding the date on which the reduction is requested.
Life insurance contracts (with or without counter-insurance) or capitalisation contracts must indicate the charges levied by the company. These charges may be denominated in the currency of the contract or calculated as a percentage of the premiums, mathematical provisions, guaranteed capital or surrender value. Other contracts with surrender values must indicate the charges levied in the event of surrender.
The charges levied by the insurance company after the date of knowledge of the death of the insured, mentioned in the third paragraph of article L. 132-5, may not exceed the charges that would have been levied had the death not occurred. For life insurance contracts mentioned in the fourth paragraph of article L. 132-5: 1° The capital in euros guaranteed in the event of death automatically earns interest from…
In addition to the information mentioned in article L. 112-4 , the life insurance contract must indicate 1° The surname, first names and date of birth of the insured(s) ; 2° The event or date on which the guaranteed capital or annuity becomes payable; 3° The terms and conditions for payment of the guaranteed capital or annuity. The capitalisation contract must indicate 1° The amount of capital repayable at maturity…
The ceiling mentioned in the last paragraph of article L. 132-7 may not be less than 120,000 Euros.
Our French business lawyers are here to help.
We offer a FREE evaluation of your case.
Call us at +33 (0) 1 84 88 31 00 or send us an email.
is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
Resources
is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
Useful links
Our French business lawyers are here to help.
We offer a FREE evaluation of your case.
Call +33 (0) 1 84 88 31 00 or send us an email.
All information exchanged through this website will be communicated to lawyers registered with a French Bar and will remain confidential.
