Foreign exchange risk can only be covered if the use of the currency specified in the contract is approved by the Minister for the Economy. Foreign exchange cover is granted on the basis of the exchange rate applicable on the date specified in the policy, in accordance with the provisions of foreign exchange regulations: For the purchase of foreign currency required to pay for imports; Or the sale of foreign…
As regards the guarantee of the exchange rate risk relating to export transactions or to loans or credits granted to finance export transactions or export-related transactions, the loss or profit that may result from a difference between the exchange rate prevailing on the day of collection of a debt and the exchange rate on the basis of which the guarantee was granted shall, up to the percentage of the guarantee,…
With regard to cover for foreign exchange risk relating to import transactions, the loss or profit that may result from a difference between the purchase price of the foreign currency and the price on the basis of which the cover was granted is, up to the cover percentage, borne by or for the benefit of the organisation referred to in article L. 432-2, after deduction, where applicable, of the fraction…
The rates used to conduct the group insurance operations provided for in article L. 441-1 include the remuneration of the managing company and any intermediaries. The agreements must indicate the charges levied by the company.
When the agreement is denominated in a foreign currency, the acquisition value and the service value of the annuity unit are denominated in the same currency.
I. – The calculations of the theoretical mathematical provision referred to in Article R. 441-21 and the distribution of rights referred to in Article R. 441-27 are carried out using the mortality tables and the relevant risk-free interest rate curve used to calculate the best estimate referred to in Article R. 351-2. Insurance undertakings may apply a volatility adjustment to the relevant risk-free interest rate curve referred to in Article…
The annuity unit corresponding to a surrender has the same acquisition value as the annuity unit normally acquired in the year of the surrender.
Each year, insurance undertakings carrying out the operations defined in Article L. 441-1 must inform the Autorité de contrôle prudentiel et de résolution of the service value and acquisition value(s) of the annuity unit for the coming financial year for each of the contracts they manage. They must also communicate: -the amount of the theoretical mathematical provision calculated at 31 December of the financial year just ended; -the amount of…
The file referred to in article R. 512-4 includes : 1° Where the applicant is a natural person, the applicant’s identity, the address of the establishment where the professional activity is carried out, or failing that, the address of the residential premises where the business is based and, where applicable, the applicant’s sign and business name. If the applicant is not registered in the Trade and Companies Register, his identity…
The registration referred to in Article L. 512-1 is renewed on 1 March each year. Applications for renewal must be submitted by the intermediary or the principal at least one month before the expiry date of the registration. It must be accompanied by the following information 1° The identity of the applicant referred to in 1° and 2° of Article A. 512-1, its address and, where applicable, its legal form,…
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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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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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