Regulatory Alerts2023-12-08
Instruction No. 2023-I-20 of December 8, 2023, repealing and replacing Instruction No. 2013-I-15 regarding the monitoring of flows on life insurance contracts
The Prudential Control and Resolution Authority (ACPR) issued Instruction No. 2023-I-20 to replace previous regulations and mandate weekly and quarterly reporting of cash flows for life insurance contracts by designated insurance and pension entities. The instruction defines specific reporting entities based on premium and provision thresholds, categorizes contracts into redeemable and non-redeemable types, and aligns data variables with existing national supervisory reports. These reporting obligations commence on July 1, 2024, with weekly data submissions required by June 3, 2024, and electronic transmission via the Onegate portal becoming mandatory from January 1, 2025.
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