Section VI: Provisions relating to the carrying on of certain co-insurance operations by insurance undertakings

To enable insurance undertakings that are party to a co-insurance transaction to benefit from the exemption provided for in article L. 321-12, the transaction must meet the following criteria: 1° The risk is covered by a single contract at a single premium for the same term; 2° The insurers are not jointly and severally liable; 3° One of the insurers is designated as the lead insurer: the lead insurer must…

For insurance undertakings benefiting from the exemption provided for in Article L. 321-12, the technical provisions defined in Title IV of Book III, which each of these undertakings must establish for the corresponding co-insurance operations, are at least equal to the amount calculated by the leading insurer in accordance with the rules of the Member State in which it is established.

Insurance undertakings whose head office is in France and which participate in the operations referred to in Article L. 321-12 as leading insurers shall provide the other insurers participating in these operations with statistical data showing the size of the European co-insurance operations in which they participate.