Section IV: Record-keeping relating to investments, contracts, claims and reinsurance

A permanent inventory of investments must be kept under the following conditions: a) Entries and withdrawals of investments must be recorded therein, independently of their entry in the accounts, no later than the day after the commitment is made (for loans and buildings) or the purchase or sale notice is received (for securities); b) Each security heading must be tracked individually and include a description of the security and its…

Companies must either issue policies under a continuous numbering system that may comprise several series, without omission or duplication, with successive riders being attached to the original policy, or assign policyholders or members continuous numbers that meet the same requirements. Information relating to these documents must be easily accessible at all times and must include at least the following information : – either the number of the contract or rider,…

Events and claims that give rise or are likely to give rise to at least one of the guarantees provided for in the contract, or outflows, are recorded as soon as they are known, under a continuous numbering system that may comprise several series. This record is made by year of occurrence or, in the case of transport, by year of subscription. It includes the following information: date and number…

Reinsurance treaties, acceptances, cessions and retrocessions are recorded in chronological order under a continuous numbering system. The following information must be recorded on a document that can be easily consulted: -treaty serial number; -signature date; -effective date; -duration; -name of the ceding party, assignee or retrocessionaire; -nature of the risks covered by the treaty; -date on which the treaty takes effect; -nature of the treaty.