Chapter II: Crisis prevention and management measures

The provisions of this chapter apply to the following persons: 1° The undertakings carrying on direct insurance business referred to in Article L. 310-1, with the exception of those not covered by the Solvency II regime referred to in Article L. 310-3-2 ; 2° Undertakings referred to in Article L. 310-1-1 carrying on reinsurance business and whose head office is located in France; 3° Insurance group companies referred to in…

The expression “critical functions” refers to the activities, services or operations of a person mentioned in Article L. 311-1 with the following characteristics: they are provided by this person to third parties that are not linked to it; the inability of this person to continue them would be likely to have a significant impact on financial stability or the real economy; this person cannot be replaced for their provision at…

In carrying out the duties referred to in 4° of II of Article L. 612-1 of the Monetary and Financial Code and performed for the insurance sector, the supervisory board and the resolution board of the Autorité de contrôle prudentiel et de résolution shall take into account, in particular, the nature of the activities and risk profile of the person concerned, its legal form, the complexity of its activities and,…

A decree in the Conseil d’Etat shall specify the conditions of application of this section.