Without prejudice to their other reporting obligations, insurance and reinsurance undertakings shall publish an annual report on their solvency and financial condition. In the event of a major event significantly affecting the relevance of the information contained in that report, insurance and reinsurance undertakings shall publish information on the nature and effects of that event.
Insurance and reinsurance undertakings shall put in place appropriate structures and systems to meet the requirements set out in Article L. 355-5. Pursuant to the provisions of Article L. 354-1, they shall draw up written policies guaranteeing that the information published in accordance with Article L. 355-5 complies with the requirements of this Title at all times.
A decree in the Conseil d’Etat shall specify the conditions of application of this section.
The Autorité de contrôle prudentiel et de résolution shall forward annually to the European Insurance and Occupational Pensions Authority the following information concerning the insurance and reinsurance undertakings subject to its supervision: (a) The average amount of capital add-ons per undertaking and the distribution of capital add-ons imposed by the Autorité de contrôle prudentiel et de résolution during the previous year, as a percentage of the Solvency Capital Requirement and…
For the purposes of this Chapter: 1° “parent undertaking” means an undertaking which exclusively controls an undertaking within the meaning of II of Article L. 233-16 of the Commercial Code. This second undertaking is referred to as a “subsidiary undertaking”. Any subsidiary undertaking of a subsidiary undertaking is considered a subsidiary of the parent undertaking. The Autorité de contrôle prudentiel et de résolution also considers as a parent undertaking, for…
Undertakings whose head office is in France and which are part of a group within the meaning of Article L. 356-1 are subject to group supervision. Group supervision applies to insurance undertakings or reinsurance undertakings which are participating undertakings in at least one insurance undertaking, reinsurance undertaking, non-member-country insurance undertaking or non-member-country reinsurance undertaking, in accordance with the provisions of Sections II, III, IV, V and VI of this Chapter….
Where the participating insurance undertaking, reinsurance undertaking, insurance group company, mutual group association, social protection group company or mixed financial holding company referred to in Article L. 356-2 is itself a subsidiary undertaking of another insurance or reinsurance undertaking, another insurance group company, another mutual group association, another social protection insurance group company or another mixed financial holding company which has its head office in the European Union, the provisions…
I.-In the case provided for in Article L. 356-3, the Autorité de contrôle prudentiel et de résolution may decide, after consultation with the group supervisor and the ultimate parent undertaking at EU level, to also apply group supervision at the level of the ultimate parent undertaking in France. In this case, the Autorité de contrôle prudentiel et de résolution shall notify its decision to the group supervisor and the ultimate…
The Autorité de contrôle prudentiel et de résolution may decide to enter into an agreement with the supervisory authorities of other Member States in which there is a ultimate parent undertaking at national level which is a related undertaking or a participating undertaking in a ultimate parent undertaking in France, with a view to exercising group supervision at the level of a sub-group covering several Member States. The agreement referred…
I.-The Autorité de contrôle prudentiel et de résolution shall act as group supervisor within the meaning of 6° of Article L. 356-1: 1° When it is the competent supervisory authority for all insurance and reinsurance undertakings in the group ; 2° Subject to the application of the provisions of II: a) Where, in the case referred to in the second paragraph of Article L. 356-2, the participating undertaking is an…
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is a Registered Trademark of
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75001, Paris France
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