French Business Law - French Legislation

Article R382-5 of the French Insurance Code

November 7, 2023

I.-Where the competent authority of the host Member State communicates to the Autorité de contrôle prudentiel et de résolution both the provisions of that Member State’s social and labour law relating to occupational pension schemes, the rules for the management of these schemes and the customer information requirements which apply to cross-border activity, the Autorité de contrôle prudentiel et de résolution shall transmit this information to the supplementary occupational pension…

Article R383-1 of the French Insurance Code

November 7, 2023

The first and second paragraphs of article R. 325-2, articles R. 325-10 to R. 325-12 and I of article R. 325-13 apply to the withdrawal of authorisation of supplementary occupational pension funds. For the application of these provisions : 1° “supplementary occupational pension fund” shall be understood to mean: “undertakings referred to in Article L. 310-2”, “undertakings” or “insurance or reinsurance undertakings”; 2° The reference to Article L. 321-1 is…

Article R384-1 of the French Insurance Code

November 7, 2023

Where, in the case of a transfer of the portfolio of contracts referred to in Article L. 384-1, the transferee supplementary occupational pension fund or funds are under the exclusive or joint control of the transferor mutual insurance companies, unions or provident institutions, the assets and liabilities contributed as part of this transaction are entered in the balance sheet of the transferee fund or funds on the basis of their…

Article R385-1 of the French Insurance Code

November 7, 2023

I. – The solvency margin referred to in article L. 385-2 is made up, after deduction of losses, the portion of deferred acquisition costs exceeding 25% of the amount of the provision for unearned premiums and other intangible items, by the following items: 1° Paid-up share capital or the formation fund. However, preference shares as defined in article L. 228-11 of the French Commercial Code may only be issued if…

Article R385-2 of the French Insurance Code

November 7, 2023

I. – The minimum required solvency margin is determined, according to the nature and type of guaranteed benefits offered in the contracts, in application of the following provisions: 1° For guarantees expressed in euros, with the exception of supplementary insurance or guarantees in the event of incapacity and invalidity, the minimum required solvency margin is calculated in relation to the provisions mentioned in 1° and 4° of article R. 343-3…

Article R385-3 of the French Insurance Code

November 7, 2023

I. – The guarantee fund of supplementary occupational pension funds is equal to one third of the minimum required solvency margin defined in article R. 385-1, but may not be less than 3,700,000 euros. Up to these thresholds or up to half of the guarantee fund, if this half is greater than these thresholds, the guarantee fund is made up of the items mentioned in 1°, 2° and 3° of…

Article R385-4 of the French Insurance Code

November 7, 2023

The stress tests referred to in Article L. 385-3 consist of a projection of the business of the supplementary occupational pension fund into the future. This projection is based on : a) A scenario extending the economic conditions existing at the date of the last financial statements; b) Worsened scenarios involving a fall in interest rates, a fall in financial returns from non-depreciable assets or a fall in the mortality…

Article R385-5 of the French Insurance Code

November 7, 2023

Supplementary occupational pension funds shall at all times represent their commitments referred to in Article R. 343-1 by equivalent assets, in accordance with the conditions set out in this section and in D of Article R. 332-2. Subject to article R. 385-8, commitments made in a currency must be covered by matching assets, i.e. assets denominated or realisable in that currency. This section applies separately to each allocation sub-account mentioned…

Article R385-6 of the French Insurance Code

November 7, 2023

The balance sheet value of all securities issued, receivables other than those referred to in article R. 385-11, loans and securities not traded on a regulated market within the meaning of 11° of article L. 310-3 may not exceed 30% of the total amount of commitments referred to in article R. 343-1.

Article R385-7 of the French Insurance Code

November 7, 2023

I. – The balance sheet value of all securities issued, receivables other than those referred to in article R. 385-11, loans obtained or guaranteed and deposits placed with the same body may not exceed 5% of the total amount of commitments referred to in article R. 343-1, with the exception of securities issued or guaranteed or loans obtained by a State party to the Agreement on the European Economic Area…

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French Insurance Code

Article R382-5 of the French Insurance Code

Article R383-1 of the French Insurance Code

Article R384-1 of the French Insurance Code

Article R385-1 of the French Insurance Code

Article R385-2 of the French Insurance Code

Article R385-3 of the French Insurance Code

Article R385-4 of the French Insurance Code

Article R385-5 of the French Insurance Code

Article R385-6 of the French Insurance Code

Article R385-7 of the French Insurance Code

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French Insurance Code

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