Subsection 5: Reinsurance.

Subject to the provisions of articles R. 322-96 and R. 322-120,1°, mutual insurance companies may accept reinsurance risks if their articles of association authorise them to do so.

Reinsured companies may only be members of the company to which they are reinsured, in the same capacity as other members, if they are expressly authorised to do so by the Articles of Association of that company. In this case, the articles of association determine the conditions under which reinsured companies may participate in general meetings. However, the articles of association of companies whose exclusive object is reinsurance may allocate…

Any reinsurance treaty by which a company governed by this section cedes to one or more undertakings its risks in a proportion exceeding 90% of the total premiums relating to the reinsured risks must be submitted for approval to a general meeting deliberating as provided for in Article R. 322-65 and convened by registered letter or by electronic registered letter sent to each member stating the reason for the approval…

Mutual reinsurance companies may be formed between mutual insurance companies or associations thereof or between undertakings affiliated by agreement to the same mutual insurance group company, the object of which is the reinsurance of the companies which are members thereof. Such reinsurance companies are subject to the provisions of this section. However, they are validly constituted when they have at least seven member companies, this minimum number not being required…