Chapter IV: Commitments giving rise to a diversification provision

For the application of Article R. 134-2, notwithstanding Article 142-3 of Regulation No. 2015-11 of 26 November 2015 of the Autorité des normes comptables relating to the accounting framework for insurance undertakings, mathematical provisions are calculated using a rate that may be higher than that used for the tariff and at most equal to an amount calculated using either of the methods shown below: 1° For each commitment, 90% of…

The provision for forward guarantees referred to in 11° of article R. 343-3 is established for each allocation sub-account. Its amount is equal to the difference, when positive, between the present value of the guarantees covered by 2° of article L. 134-1 and the sum of the value of the corresponding diversification provision and the value of the collective deferred diversification provision. The present value referred to in the previous…

The revaluation of guarantees referred to in the 2nd paragraph of article R. 134-4 may only take place if it enables the following two conditions to be met: 1° The amount of the diversification provision corresponding to the guarantees covered by 1° of article L. 134-1 is greater than one and a half times the difference between the amount of the mathematical provisions which would have to be entered if…

The conversion referred to in article R. 134-4 may only be carried out every five years and on condition that, after the conversion, the difference between the amount of the diversification provision corresponding to the converted commitment and the minimum amount of this provision calculated on the basis of the minimum value of the unit referred to in article R. 134-1 is greater than 15% of the amount of the…

An interim diversification provision is calculated at least each month in which the profit-sharing account is not closed. It is equal to the difference between the realisable value of the assets determined in accordance with the provisions of articles R. 343-11 and R. 343-12 and the sum of the provisions mentioned in 1°, 4°, 7°, 10° and 11° of article R. 343-3. For the application of the second paragraph of…

The vehicles referred to in the second paragraph of Article R. 134-6 are those whose synthetic risk indicator, referred to in Article 3 of Commission Delegated Regulation (EU) No 2017/653 of 8 March 2017, is less than or equal to 2. For vehicles for which a synthetic risk indicator is not available, an indicator is calculated using a method similar to that provided for in the aforementioned regulation.

The following information relating to commitments covered by 1° and 2° of Article L. 134-1 respectively is sent to the Autorité de contrôle prudentiel et de résolution each year by 30 April at the latest, by year of maturity and by level of cover: the number of contracts or memberships in force; -the amount of mathematical provisions; -the amount of the diversification provision; -the premiums paid and the amount of…