French Insurance Code

Undertakings may not acquire buildings encumbered by rights in rem representing more than 65% of their value, or grant rights in rem over their buildings, unless exceptionally authorised by the Autorité de contrôle prudentiel et de résolution.

The mortgage loans referred to in 11° of article R. 332-2 must be secured by a first-ranking mortgage on a building located in the territory of one of the Member States of the OECD or on a ship. The total amount of the first-ranking liens and mortgages must not exceed 65% of the market value of the property or vessel constituting the security for the loan, estimated on the day…

1° The loans referred to in 12° of article R. 332-2 must have a total term of at least two years and meet the following conditions: They must be secured by a guarantee given by a credit institution, finance company or insurance company not belonging to the same group as the lender or borrower and approved by one of the States party to the Agreement on the European Economic Area,…

Pursuant to the provisions of 3° and 8° of article R. 332-2, units or shares of undertakings for collective investment in transferable securities covered by section 1 and collective investments covered by paragraph 1 of sub-section 2 of section 2 of Chapter IV of Title I of Book II of the Monetary and Financial Code are eligible to represent regulated commitments; units or shares in undertakings for collective investment in…

The medium-term negotiable securities referred to in 2°b of Article R. 332-2 must meet the following conditions: a) They must be issued for at least 30 million euros ; b) They must be valued by at least two separate bodies that are not financially linked, either to each other or to the insurance company holding the bonds; c) On this basis, be the subject of a price published at least…

I.- The financing bodies referred to in 2°c of article R. 332-2 and the specialised professional funds referred to in 7°d of article R. 332-2 are economic loan funds. II – The assets of economic loan funds are composed of, to the exclusion of all other items: 1° Claims on Member States of the European Union, debt securities issued by Member States of the European Union, or claims or debt…

Pursuant to the provisions of 9° bis of article R. 332-2, companies are authorised to hold the units or shares of companies whose object is strictly real estate, with the exception of companies whose activity is that of a property trader and general partnerships, unless exemptions were granted prior to the entry into force of decree no. 90-981 of 5 November 1990. The assets of these companies may only consist…

Transferable securities and similar instruments, and units or shares in real estate or property companies must be registered either in an account or on deposit with an authorised intermediary, or registered in the accounts of the issuing body, provided that the latter is located in a Member State of the European Union. Deeds of ownership of real estate assets, deeds and documents evidencing loans or receivables are kept in France….

The security for claims against reinsurers referred to in article R. 332-3-3 is constituted by pledging the securities referred to in 1°, 2°, 2° bis, 2° ter, 2° quater, 3°, 4°, 8° and 9° bis of article R. 332-2. These securities are deposited in a pledged account within the meaning of article L. 211-20 of the French Monetary and Financial Code. Pledged securities are valued in accordance with the provisions…