Section 3: Regulatory capital requirement for groups.

Articles R. 356-9 to R. 356-22 apply to the participating and parent undertakings mentioned respectively in the second and third paragraphs of Article L. 356-2. For the purposes of the solvency calculation referred to in the first paragraph of Article R. 356-10, the parent undertaking referred to in the third paragraph of Article L. 356-2 is treated as an insurance or reinsurance undertaking subject to the rules laid down in…

The Autorité de contrôle prudentiel et de résolution, in its capacity as group supervisor, shall ensure that the calculations used to verify compliance with the requirements referred to in 2° and 3° of Article L. 356-15 are carried out at least once a year by the undertaking referred to in the first paragraph of Article R. 356-8 or by the undertaking designated in accordance with 5° of Article L. 356-15….

The solvency calculation at the level of the group of insurance and reinsurance undertakings is carried out in accordance with the first method referred to in Article R. 356-19, based on consolidated data. However, the Autorité de contrôle prudentiel et de résolution, in its capacity as group supervisor, may decide, after consulting the other supervisory authorities concerned and the group itself, to apply to the group the second method referred…

I.-The calculation of group solvency takes account of the proportional share held by the undertaking referred to in the first paragraph of article R. 356-8 in its affiliated undertakings. This proportional share corresponds to: a) Where the first method is used, the percentages used to prepare the consolidated financial statements; or b) Where the second method is used, the proportion of the subscribed capital held, directly or indirectly, by the…

I.-The double use of own funds eligible to cover the Solvency Capital Requirement of the various insurance or reinsurance undertakings taken into account in the calculation is prohibited. To this end, when calculating the solvency of the group, if the methods described in articles R. 356-19 to R. 356-22 do not so provide, the following amounts are excluded: a) The value of any assets of the undertaking mentioned in the…

When calculating group solvency, no account is taken of any own funds eligible to cover the Solvency Capital Requirement arising from reciprocal financing between the undertaking referred to in the first paragraph of Article R. 356-8 and: a) A related undertaking; b) A participating undertaking; c) Another undertaking related to any of its participating undertakings. When calculating the solvency of the group, no account is taken of any own funds…

Assets and liabilities are valued in accordance with Article L. 351-1. The methods for calculating the best estimate of the prudential technical provisions referred to in Article L. 351-2, on the basis of consolidated data, are set out in Article 339 of Commission Delegated Regulation (EU) No 2015/35 of 10 October 2014. At group level, the calculation of the risk margin, is carried out in accordance with Article 340 of…

Where the undertaking referred to in the first paragraph of Article R. 356-8 has more than one related insurance undertaking or reinsurance undertaking, each of them is taken into account in the calculation of the group solvency. Where the related insurance undertaking or the related reinsurance undertaking has its head office in another Member State, the calculation shall take account, in respect of that related undertaking, of the Solvency Capital…

I.-For the purposes of calculating the solvency of the group of an undertaking referred to in the first paragraph of Article R. 356-8 which holds, through a société de groupe d’assurance, a union mutualiste de groupe, a société de groupe assurantiel de protection sociale or a mixed financial holding company, a participation in a related insurance or reinsurance undertaking or in a third-country insurance or reinsurance undertaking, the situation of…

In order to calculate the group solvency of an undertaking mentioned in the first paragraph of Article R. 356-8 which is a participating undertaking in a credit institution, investment firm or financial institution, this undertaking applies one of the two methods defined by order of the Minister responsible for the economy. The method chosen is applied consistently over time. However, the Autorité de contrôle prudentiel et de résolution, as group…