Chapter II: Life insurance and capitalisation operations

The minimum amount of participation in the technical and financial profits of undertakings carrying out the operations referred to in 1° of Article L. 310-1 and of supplementary professional retirement funds referred to in Article L. 381-1 is determined for individual and group contracts of all types, in accordance with Articles A. 132-11 to A. 132-17. For all these articles, references to the “mathematical provision” must be understood in the…

I. – For the operations of each company mentioned in 1° of Article L. 310-1 and of each supplementary occupational pension fund mentioned in Article L. 381-1, in respect of insurance, capitalisation or supplementary occupational pension commitments falling within categories 1 to 7 of Article A. 344-2, the minimum amount of profit sharing to be allocated in respect of a financial year is determined globally on the basis of a…

The minimum annual amount of profit-sharing is the credit balance of the profit-sharing account defined in I of article A. 132-11 for the operations mentioned in this same I. The minimum annual amount of profit-sharing is equal to the amount defined in the previous paragraph less the amount of interest credited to the mathematical provisions and increased, where applicable, by an amount equal to the sum, contract by contract, of…

The financial account referred to in Article A. 132-11 includes, on the revenue side, the portion of net investment income calculated in accordance with the rules referred to in Article A. 132-14 and, on the expenditure side, with the authorisation of the Autorité de contrôle prudentiel et de résolution and after justification, the portion of profits which the undertaking has had to allocate to own funds in order to satisfy,…

For the purpose of drawing up the account defined in Article A. 132-13, the share of the financial result to be entered as revenue in this account is equal to the sum of the following two elements : 1. The product of the average amount over the financial year of technical reserves gross of reinsurance cessions, corresponding to items 3b, 3c, 3e and 3h of the balance sheet liabilities model…

For the purposes of Article A. 132-11, the profit-sharing account includes an item entitled “Ceded reinsurance balance”. Only risk reinsurance is taken into account, i.e. reinsurance in which the reinsurers’ commitment relates exclusively to all or part of the difference between the amount of capital in the event of death or disability and the mathematical reserves of the corresponding contracts. In treaties limited to risk reinsurance, the balance of reinsurance…

The amount of bonuses may be allocated directly to the mathematical provisions or transferred, in whole or in part, to the provision for bonuses referred to in article R. 343-3. Amounts transferred to the latter provision are allocated to the mathematical reserve or paid to policyholders during the eight financial years following the year in respect of which they were transferred to the provision for profit sharing. For commitments covered…

By way of derogation from the allocations provided for in the first paragraph of Article A. 132-16 and in exceptional situations, the provision for profit sharing may be written back after authorisation from the Autorité de contrôle prudentiel et de résolution. The exceptional situations referred to in the first paragraph are only met when the balance of the life insurance technical profit and loss account for the last accounting period,…