Section II: Technical and accounting rules.

The group insurance operations provided for in Article L. 441-1 are authorised on condition that these operations include a benefit determined in accordance with the conditions laid down in this chapter.

The transactions referred to in article R. 441-4 are carried out pursuant to agreements which must specify the operating procedures of the scheme, including in the cases of conversion provided for in articles R. 441-24 and R. 441-26.

The technical provisions for the operations provided for in Article L. 441-1 are as follows: 1° The special technical provision, from which are deducted the benefits paid and management charges, within the limits set by the agreement, and to which are allocated the contributions paid, net of charges included in the contributions and taxes, as well as all financial income and expenses generated by the assets allocated to the special…

I. – When, pursuant to the last paragraph of Article R. 441-21, the commitments of the insurance undertaking under an agreement are no longer represented in at least an equivalent manner by the assets relating to that agreement and a reduction in the value of the annuity unit is not authorised by the agreement under the conditions set out in Article L. 441-2, the insurance undertaking shall make up this…

The assets representing commitments relating to several agreements, where they are not recorded separately in the accounts for each of these agreements, are deemed, in particular for each closing of the accounts mentioned in Article R. 441-12, to be distributed uniformly between these same agreements in proportion to the technical provisions mentioned in 1° to 3° of Article R. 441-7, valued at the same date.

I. – Where, for an insurance undertaking which does not belong to a group within the meaning of Article L. 356-1, the commitments constituted in respect of the operations governed by this chapter represent, as at 31 December 2017, more than 80% of all the technical provisions within the meaning of Title IV of Book III, constituted at the level of the insurance undertaking, Article R. 441-7-1 and the last…

Undertakings reinsuring commitments under an agreement on a uniform proportional basis apply articles R. 441-7 to R. 441-7-3, R. 441-12 and R. 441-21. For the purposes of these articles, the following definitions apply: “the treaty” where “the agreement” is mentioned, “the reinsurer” where “the insurance undertaking” is mentioned and “the ceding undertaking” where “the beneficiaries” are mentioned.

An individual account is opened for each beneficiary who is a member or retiree, showing the contributions paid and the number of corresponding annuity units, broken down by year. A member is defined as any person who pays contributions or on whose behalf contributions are paid.

No gratuitous benefit may be stipulated for the transactions provided for in this chapter.

For each agreement covered by Article L. 441-1, an appropriation sub-account is kept. For each agreement, an appropriation income statement and an appropriation balance sheet account are drawn up, in which the assets representing the commitments of the agreement and the technical provisions mentioned in 1°, 2° and 3° of article R. 441-7 are recorded, as well as a table of commitments received and given, an appendix comprising an inventory…