Chapter V: Safeguard measures relating to insurance undertakings

When the Autorité de contrôle prudentiel et de résolution requires an insurance undertaking to submit a recovery plan pursuant to Article L. 612-32 of the Monetary and Financial Code, the plan must include, in particular, a detailed description of the following items for the next three financial years, accompanied by the relevant supporting documents: 1° A forecast of management expenses, in particular current overheads and commissions ; 2° A detailed…

I.-On the basis of the recovery plan referred to in Article R. 335-1 , or in the absence of communication of this plan within one month of the request, the Autorité de contrôle prudentiel et de résolution may require an insurance undertaking to provide a reinforced solvency margin in excess of the minimum margin requirement referred to in Article R. 334-5, Article R. 334-13 or Article R. 334-19, as the…

When the Autorité de contrôle prudentiel et de résolution considers that the results of the solvency test referred to in Article R. 336-7 indicate a solvency risk, it may deduct from the items making up the margin the deferred charges established pursuant to Article R. 343-6.

When the solvency margin of an undertaking referred to in article L. 310-3-2 does not reach the regulatory amount, the Autorité de contrôle prudentiel et de résolution, without prejudice to the implementation of the powers at its disposal under the terms of sections 6 and 7 of Chapter II of Title I of Book VI of the Monetary and Financial Code, requires a recovery plan, which must be submitted for…

When the solvency margin of an undertaking referred to in Article L. 310-3-2 does not reach the guarantee fund, or if the fund is not constituted in accordance with the regulations, the Autorité de contrôle prudentiel et de résolution, without prejudice to the implementation of the powers at its disposal under the terms of Sections 6 and 7 of Chapter II of Title 1 of Book VI of the Monetary…

When the Autorité de contrôle prudentiel et de résolution temporarily suspends, restricts or prohibits the free disposal of all or part of the assets of an insurance undertaking, pursuant toArticle L. 612-33 of the French Monetary and Financial Code, it may also register the mortgage referred to in Articles L. 327-3 of this Code, L. 212-24 of the French Mutual Code and L. 931-23 of the French Social Security Code…