French Insurance Code

The State guarantee is granted by the Minister for Economic Affairs, after consulting the Commission for Guarantees and Foreign Trade Credit, established by article 15 of law no. 49-874 of 5 July 1949. The State guarantee may also be granted by the managing director of the body mentioned in the first paragraph of article L. 432-2 of this code, in the name and on behalf of the State. The latter,…

The body referred to in the first paragraph of Article L. 432-2 shall establish a separate accounting record for the transactions it carries out in the name and on behalf of the State pursuant to Articles L. 432-2, L. 432-5 and L. 432-6. An agreement between the State and the body mentioned in the first paragraph of article L. 432-2 specifies the objectives set by the State for the body,…

The Chairman of the body referred to in the first paragraph of article L. 432-2 delegates all of his powers of operational management of the aforementioned body to the General Manager of this body. The Chief Executive is appointed by the Minister responsible for the economy, after consultation with the Chairman of the aforementioned body, or, if necessary, dismissed. The Minister for the Economy appoints a representative to the body…

When the Finance Bill for the year is presented, the Government sends the standing finance committees of the National Assembly and the Senate a report on all the guarantees granted in the energy sector and the transactions carried out on behalf of the State by the body mentioned in the first paragraph of Article L. 432-2. This report includes a detailed list of operations that have benefited from the State…

The body referred to in the first paragraph of Article L. 432-2 also manages and issues, under the supervision of, on behalf of and in the name of the State, the guarantees provided for inArticle 84 of Act No. 2012-1510 of 29 December 2012 amending the Finance Act for 2012.

The body referred to in the first paragraph of article L. 432-2 also manages and issues, under the supervision of, on behalf of and in the name of the State, the guarantees provided for in article 119 of law no. 2005-1720 of 30 December 2005 on amending finance for 2005.

Insurance undertakings are authorised to participate directly or indirectly, in particular by collecting premiums or contributions, by constituting capital payable in the event of death, or by constituting and paying pensions or life annuities, in any transaction the object of which is the acquisition or enjoyment of rights in the event of death, in which a link is established between the revaluation of premiums and that of previously acquired rights…

I. – Subject to the specific provisions of this chapter, the provisions of Book I relating to life insurance apply to the operations governed by this chapter, with the exception of Articles L. 131-1, L. 131-2, L. 132-5-2, L. 132-5-3, L. 132-9, L. 132-9-1, L. 132-20 to L. 132-22-1, L. 132-30 and L. 132-31, the specific provisions relating to insurance in the event of death and Chapter IV of Title…

I. – For operations with optional membership, the information sheet provided by the policyholder to the member at the time of enrolment includes, in addition to the information mentioned in the second paragraph of Article L. 141-4 : a) The company name and contact details of the policyholder ; b) The essential terms of the agreement, in particular the possibility of reducing the service value of the annuity unit and…

For all operations governed by this chapter, the policyholder is required to inform the member each year of: 1° The amount of the premium or contribution paid for membership during the year ; 2° The acquisition values of the annuity unit corresponding to the member’s situation during the past year; 3° The total amount of vested rights expressed as a number of annuity units; 4° The service value of the…