Chapter IV: Commitments giving rise to a diversification provision

The amount of the guaranteed capital or the capital constituting the guaranteed annuity payable at maturity mentioned in article L. 134-1 may not exceed an amount determined according to mortality tables and rates applicable to the pricing of this guarantee defined by order of the Minister for the Economy. The contract stipulates that the diversification reserve cannot be less than a minimum value which it defines. This value is strictly…

The premiums and amounts arbitrated or transferred net of charges provided for in 1° of article R. 134-3 give rise to individual rights expressed in terms of the number of units in the diversification provision and, in the case of commitments covered by 1° of article L. 134-1, in terms of the mathematical provision. The number of units in the diversification provision is obtained by dividing the diversification provision by…

The contract specifies the deductions to be made by the insurance undertaking and how they are to be established and collected. The undertaking may deduct only: 1° from premiums paid and amounts transferred or arbitrated; 2° On amounts resulting from the conversion of commitments referred to in Article R. 134-4; 3° On the diversification provision where the auxiliary allocation accounts provided for in Article L. 134-2 do not include commitments…

A profit-sharing account has been set up. Its credit balance is allocated to : 1° The mathematical reserve by revaluation of guarantees, under conditions defined by order of the Minister for the Economy; 2° The diversification reserve by allocation of new units of the diversification reserve or by an increase in the value of these units; 3° The collective deferred diversification reserve. The debit balance of the profit-sharing account is…

The term referred to in the tenth paragraph of article L. 132-23 may not exceed the shorter of eight years or the maturity date of the guarantee. Before the maturity date mentioned in article L. 134-1, the surrender or transfer value of the commitments covered by 1° of the same article corresponds to the sum of the mathematical reserve of the subscriber and the product of the number of units…

For commitments covered by 1° of Article L. 134-1, the amount of the sums due by the insurance undertaking when the guarantee expires corresponds to the value mentioned in the second paragraph of Article R. 134-5. For commitments covered by 2° of Article L. 134-1, the amount of the sums due by the insurance undertaking when the guarantee expires corresponds to the greater of the value mentioned in the third…

The contract may provide for additional guarantees. The provision referred to in 1° of article R. 343-3 corresponding to these guarantees is not established within the auxiliary allocation accounts referred to in article L. 134-2.

Notwithstanding articles R. 343-9 and R. 343-10, the assets relating to commitments allocated to a subsidiary allocation account mentioned in article L. 134-2 are recorded in the allocation balance sheet provided for in b of article R. 342-1 at their realisable value, determined in accordance with the provisions of articles R. 343-11 and R. 343-12.

The technical provisions corresponding to the operations of the insurance undertaking covered by Article L. 134-1 are those mentioned in 1°, 4°, 7°, 9°, 10° and 11° of Article R. 343-3. They are entered in the appropriation balance sheet provided for in b of article R. 342-1.

I.-Before an initial premium payment, an arbitration or a transfer to the undertakings referred to in Article L. 134-1, the following information is communicated to the subscriber in clearly visible characters: 1° The maturity date of the guarantee; 2° The amount, expressed in euros, of the capital or annuity guaranteed at maturity; 3° Where applicable, a statement indicating that there is no guarantee before maturity; 4° Where applicable, the period…