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Article L322-2-3 of the French Insurance Code

Companies subject to State supervision under article L. 310-1 which provide legal expenses insurance opt for one of the following management methods: -members of staff responsible for managing claims in the “legal protection” branch or for providing legal advice relating to this management may not at the same time carry out a similar activity in another branch practised by the company employing them, or in another company with which the…

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Article L322-3 of the French Insurance Code

The following are exempt from the obligations set out in Article L. 823-19 of the French Commercial Code: 1° Persons and entities controlled within the meaning of Article L. 233-16 of the same Code where the person or entity controlling them has voluntarily set up a specialised committee within the meaning and in accordance with the procedures set out in Article L. 823-19 of the same Code; 2° Persons and…

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Article L322-3-1 of the French Insurance Code

Within insurance and reinsurance undertakings, with the exception of those referred to in article L. 322-3, the committee referred to in article L. 823-19 of the Commercial Code also monitors risk management policy, procedures and systems. However, by decision of the administrative or supervisory body, this task may be entrusted to a separate committee, governed by the first paragraph and 7° of II of the same article L. 823-19.

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Article L322-3-2 of the French Insurance Code

The effective management of the undertakings referred to in Article L. 310-3-1 is ensured by at least two persons who must satisfy the conditions laid down in Article L. 322-2. These undertakings designate the person responsible for each of the key functions referred to in article L. 354-1 from within the undertaking or, where applicable, from within the group within the meaning of article L. 356-1. Placed under the authority…

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Article L322-4 of the French Insurance Code

The Autorité de contrôle prudentiel et de résolution must be notified of changes in the ownership of the undertakings referred to in 1° of Article L. 310-2 and in 1° of III of Article L. 310-1-1 . The acquisition or extension of direct or indirect shareholdings in these undertakings must be authorised by the Autorité de contrôle prudentiel et de résolution. When the Autorité de contrôle prudentiel et de résolution…

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Article L322-4-1 of the French Insurance Code

The Autorité de contrôle prudentiel et de résolution shall inform the European Commission, the European Insurance and Occupational Pensions Authority and the supervisory authorities of the other Member States of any acquisition of a holding which may confer control of an undertaking referred to in 1° of Article L. 310-2 or in 1° of III of Article L. 310-1-1 on an undertaking whose registered office is located in a State…

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Article L322-4-2 of the French Insurance Code

For the purposes of Article L. 225-21 of the Commercial Code, the directorships of a société anonyme belonging to an insurance group controlled, within the meaning of Article L. 356-1, by a mutual insurance company or a mutual reinsurance company count as a single directorship.

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Article L322-4-3 of the French Insurance Code

In the annual management report provided for inArticle L. 232-1 of the Commercial Code, insurance undertakings shall indicate the amount of the profit-sharing referred to in Article L. 132-29 and how it has been distributed over the past year.

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Article L322-4-4 of the French Insurance Code

In the event of one or more members of the Board of Directors ceasing to hold office, following a decision by the Autorité de contrôle prudentiel et de résolution to oppose their appointment pursuant toArticle L. 612-23-1 of the Monetary and Financial Code, the companies referred to in 1° of III of Article L. 310-1-1 and in 1° of I of Article L. 310-2 of this Code and constituted as…

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Article L322-4-5 of the French Insurance Code

In the event of one or more members of the Supervisory Board ceasing to hold office, following a decision by the Autorité de contrôle prudentiel et de résolution to oppose their appointment pursuant toarticle L. 612-23-1 of the French Monetary and Financial Code, the undertakings referred to in 1° of III of article L. 310-1-1 and in 1° of I of article L. 310-2 of this Code and constituted as…

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