Section I: General provisions.

Insurance undertakings authorised to transact business involving commitments the performance of which depends on the duration of human life may only transact the business referred to in Article L. 441-1 in accordance with the provisions of this chapter.

In addition to the information mentioned in article L. 112-4, the contract includes 1° The surname, first names and date of birth of the insured person(s) ; 2° The event or date on which the guaranteed capital or annuity falls due; 3° The deadlines and terms of payment of the guaranteed capital or annuity.

Where the agreement provides for the possibility of a reduction in the value of the annuity unit, this reduction may only occur where the ratio between, on the one hand, the sum of the special technical provision and the net unrealised gains and losses on the assets allocated to the special technical provision and, on the other hand, the theoretical mathematical provision is less than 0.95 at the financial year-end…

I. – The technical and financial information provided for in 5° of I of Article L. 441-3-1 includes the following information: 1° The amount of the theoretical mathematical provision calculated at 31 December of the financial year ended ; 2° The amount of the technical provisions mentioned in 1° to 3° of article R. 441-7 at the same date; 3° The ratio between, on the one hand, the sum of…

Any person who, even as an intermediary, offers to subscribe to contracts or agreements that contravene the provisions of this chapter, or arranges for such contracts or agreements to be subscribed, will be liable to the fine provided for 5th class offences. In the event of a second or subsequent offence, the fine will be the same as that imposed for repeated 5th class offences.