The liabilities of an economic loan fund referred to in article R. 332-14-2 may take one of the following forms: 1° Units, giving rise to identical rights to capital and interest, resulting either from one or more issues with a nominal value at issue of at least 30 million euros, or from an issue programme with a minimum value of at least 30 million euros; 2° Bonds, giving rise to…
When a securitisation undertaking or a specialised professional investment fund has several sub-funds, the application of the rules mentioned in articles R. 332-14-2 and A. 332-3 of the Insurance Code is assessed on a sub-fund-by-sub-fund basis. An undertaking may, at any time, have one or more sub-funds which meet the characteristics of economic loan funds and one or more sub-funds which do not.
I.-The undertakings referred to in article L. 310-3-2 are able to estimate at any time the impact on their commitments to policyholders and reinsured undertakings and on the realisable value of their assets referred to in 1° to 13° of article R. 332-2 and in article R. 332-5 , as well as their forward financial instruments, of any assumption regarding changes in interest rates and the securities, real estate and…
I.-The preference shares included in the solvency margin referred to in 1 of I of articles R. 334-3 and R. 334-11 must meet the following conditions: a) These shares carry financial rights defined by the Articles of Association; the payments corresponding to these rights are equivalent to a fraction of the distributable profit for the financial year, within the meaning ofarticle L. 232-11 of the French Commercial Code ; b)…
Pursuant to Article L. 341-4, the Autorité de contrôle prudentiel et de résolution may authorise an undertaking to derogate from the provisions defined pursuant to the last paragraph of Article R. 343-3 and Article R. 343-7, in the following cases: 1° When the undertaking requests, for the purposes of determining the provision for claims payable provided for in 4° of Article R. 343-7, to use statistical methods for estimating claims…
ANNEX I: TECHNICAL OPERATING ACCOUNT FOR OPERATIONS UNDER THE FREEDOM TO PROVIDE SERVICESIN THE FOLLOWING EEC MEMBER STATE: COUNTRY OF RISK. GROUPSof classes ACCIDENTS Sickness FIRE and other damage to property motor vehicle DAMAGE motor third party liability TOTAL motor marine and transport general civil liability credit and surety OTHER lines TOTAL Written premiums : – change in premium reserves . . . . . . . . . ….
The custodian referred to in Article R. 342-5 shall be responsible for all receipts and payments, with the possible exception of individual receipts and payments relating to sums paid in or transferred by policyholders or to benefits paid under the policy, which may be made, on the instructions of the insurance undertaking, by any entity authorised to receive and pay monetary flows on behalf of third parties.
The provisions of the second sentence of Article A. 132-16 do not apply to the auxiliary accounts referred to in Article L. 143-4 and those referred to in Article L. 381-2.
With regard to the information included in the annual accounts submitted or to be submitted to the General Meeting, a set of internal procedures, known as the audit trail, must make it possible to: a) Reconstruct transactions in chronological order; b) All information is supported by an original document from which it must be possible to trace it back to the summary document and vice versa; c) Explain changes in…
The mathematical provisions of life assurance, capitalisation and nuptial-natality insurance contracts with periodic premiums must be calculated taking into account the charges for acquisition costs in the premium payer’s commitment. The provision resulting from the above calculation may not be negative, lower than the surrender value of the contract or lower than the provision corresponding to the reduced capital.
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
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Paris Bar Registration n° (Toque) C2396
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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