Section IX: Provisions specific to insurance and reinsurance undertakings covered by the Solvency II regime

The competence requirement referred to in VII of Article L. 322-2 shall be assessed in accordance with Article 258 of Commission Delegated Regulation (EU) No 2015/35 of 10 October 2014, without prejudice to the provisions of Article R. 322-11-6.

The Managing Director, the Deputy Managing Director(s) and the members of the Management Board effectively manage the company within the meaning of article L. 322-3-2. The Board of Directors or the Supervisory Board may also designate one or more natural persons, who are not mentioned in the previous paragraph, in particular the Chairman of the Board of Directors, as effective managers. These persons must have a sufficiently broad area of…