Subsection 1: General provisions

The undertakings referred to in Article L. 310-1 or in 1° of III of Article L. 310-1-1 must be able to justify the valuation of the following items: 1° Technical provisions sufficient to settle in full their commitments to policyholders, contract subscribers and beneficiaries, and reinsured undertakings; 2° Liabilities corresponding to other preferential claims; 3° The guarantee deposits of agents, policyholders and third parties, if any; 4° A loan amortisation…

Where the guarantees of a contract are expressed in a specific currency, the commitments of the insurance undertaking referred to in Article R. 343-1 are denominated in that currency. Where the guarantees of a contract are not expressed in a specific currency, the commitments of an insurance undertaking are denominated in the currency of the country in which the risk is situated. However, the undertaking may choose to denominate its…

The provisions of this chapter are applicable in the French Southern and Antarctic Territories and in the Wallis and Futuna Islands.