French Insurance Code

I. – When a foreign undertaking duly established in a third country has entered into a contract pursuant to 2° of I of Article L. 310-2 and is no longer in one of the situations provided for in I of the same article, this direct insurance or reinsurance contract may not be renewed, extended or extended. Nor may the contract give rise to new direct insurance or reinsurance transactions involving…

In this Code : 1° “Home Member State” means : a) in the case of non-life insurance, the Member State of the European Union in which the head office of the insurance undertaking covering the risk is situated ; b) in the case of life insurance, the Member State of the European Union in which the head office of the insurance undertaking making the commitment is situated; c) in the…

Undertakings covered by the Solvency II regime are : 1° The undertakings referred to in Article L. 310-1 which are authorised to carry on their business, and those referred to in the first paragraph of Article L. 321-10-3, which have met, as from 1 January 2012 and for three consecutive financial years, one of the following conditions: a) The annual collection of gross premiums or contributions issued by the company…

Undertakings not covered by the Solvency II regime are : 1° Undertakings referred to in Article L. 310-1 or in the first paragraph of Article L. 321-10-3 which are not Solvency II undertakings within the meaning of Article L. 310-3-1; 2° Undertakings which cease to be covered by the Solvency II regime after the Autorité de contrôle prudentiel et de résolution has verified that : a) None of the conditions…

Supplementary occupational pension funds are not undertakings subject to the Solvency II regime as defined in Article L. 310-3-1, nor undertakings not subject to the Solvency II regime as defined in Article L. 310-3-2. Subject to the provisions referred to in Title VIII of this Book, Titles III and V of this Book do not apply to supplementary occupational pension funds. Supplementary occupational pension funds are subject to State supervision.

For the operations referred to in 2° and 3° of Article L. 310-1, the State in which the risk is situated is considered to be : 1° The State in which the property is located, when the insurance relates either to buildings or to buildings and their contents insofar as the latter are covered by the same insurance policy ; 2° The State of registration, where the insurance relates to…

For the transactions referred to in 1° and the last paragraph of article L. 310-1, the State in which the policyholder has his principal residence or, if the policyholder is a legal entity, the State in which the registered office or place of business of that legal entity to which the contract relates, is considered to be the State of the commitment.

A foreign company may not carry on in the territory of the French Republic any of the operations mentioned in Article L. 310-1 or reinsurance operations unless it complies with the provisions of its national legislation.

A decree of the Conseil d’Etat determines the conditions of incorporation of companies subject to State control by virtue of article L. 310-1 and 1° of III of article L. 310-1-1 and of supplementary professional retirement funds. It specifies the conditions under which the provisions of articles L. 210-1 et seq. of the Commercial Code and the laws governing public limited companies are applicable to these companies and funds. Special…

The Minister may require disclosure of documents of a contractual or advertising nature relating to an insurance or capitalisation transaction. If it appears that a document is contrary to legislative or regulatory provisions, the Minister may require it to be amended or decide to withdraw it after receiving the opinion of the Financial Sector Consultative Committee. In urgent cases, the opinion of the Comité consultatif du secteur financier is not…