Subsection 2: Provisions relating to reinsurance undertakings.

The administrative authorisation provided for in Article L. 321-1-1 is granted by the Autorité de contrôle prudentiel et de résolution. For the purposes of granting this authorisation, reinsurance operations are classified into activities as follows: 1. Non-life: reinsurance of risks of the same nature as those covered by the undertakings referred to in 2° and 3° of Article L. 310-1; 2. Life: reinsurance of risks of the same nature as…

When, pursuant to Article L. 321-1-2 , the Autorité de contrôle prudentiel et de résolution consults the authority responsible for supervising credit or investment institutions in the Member State concerned, that authority has one month in which to submit its observations. At its request, this period may be extended by one month.

Any decision to refuse full or partial administrative authorisation must be substantiated and notified by the Autorité de contrôle prudentiel et de résolution to the company concerned, after the latter has been given formal notice by registered letter to submit its observations in writing within a fortnight. The undertaking may appeal to the Conseil d’Etat within two months of being notified of the total or partial refusal of authorisation, or…

Any decision to grant or refuse administrative authorisation shall be notified by the Autorité de contrôle prudentiel et de résolution to the European Insurance and Occupational Pensions Authority.