Chapter III: Investments

I.- For the entire portfolio of assets, insurance and reinsurance undertakings shall invest only in assets and instruments presenting risks which they can identify, measure, monitor, manage, control and report in an appropriate manner and which are taken into account in an appropriate manner in the assessment of their overall solvency requirements in accordance with Article R. 354-3. All assets are invested in such a way as to guarantee the…

In order to ensure consistency across sectors and to eliminate diverging interests between, on the one hand, companies which repackage loans into tradable securities and other financial instruments and, on the other hand, insurance or reinsurance undertakings which invest in such securities or instruments, the quantitative and qualitative requirements to be met by undertakings investing in such securities or instruments are referred to in Articles 254 to 257 of Commission…

For insurance and reinsurance undertakings investing in transferable securities or other financial instruments based on repackaged debt issued before 1 January 2011, the requirements set out in Article R. 353-2 shall apply only if the underlying exposures have been replaced or supplemented by new exposures after 31 December 2014.

Insurance undertakings may not grant rights in rem over their buildings, unless exceptionally authorised by the Autorité de contrôle prudentiel et de résolution.

The provisions of Article R. 332-16 apply to the insurance undertakings referred to in Article L. 310-3-1.