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

PRUDENTIAL CONTROL AND RESOLUTION AUTHORITY

Instruction No. 2023-I-20 repealing and replacing Instruction No. 2013-I-15 of November 12, 2013 regarding the monitoring of flows on life insurance contracts, modified by Instruction No. 2017-I-18 of October 12, 2017

The Prudential Control and Resolution Authority (ACPR), Having regard to Directive (EU) 2016/2341 of the European Parliament and of the Council of December 14, 2016 on the activities and supervision of institutions for occupational retirement provision ('IORP 2'); Having regard to the Monetary and Financial Code, particularly Article L. 612-24, the seventh indent of Article L. 612-33, and the fifth indent of Article L. 631-2-1; Having regard to the Insurance Code, particularly Articles L. 131-1, L. 132-21, L. 132-23, L. 310-3-1, L. 310-3-2, and A. 344-2; Having regard to the Mutual Insurance Code, particularly Articles L. 211-5, L. 211-10, L. 211-11, L. 223-2, L. 223-22, and A. 114-1; Having regard to the Social Security Code, particularly Articles L. 931-6, L. 931-6-1, L. 932-23, and A. 931-11-10; Having regard to the opinion of the Prudential Affairs Consultative Commission of November 29, 2023, DECIDES

Article 1: For the purposes of this Instruction, the following terms are defined below:

"Reporting Entities":

• Insurance and reinsurance entities subject to the so-called "Solvency II" regime mentioned in Articles L. 310-3-1 of the Insurance Code, L. 211-10 of the Mutual Insurance Code, and L. 931-6 of the Social Security Code;

• Entities not subject to the so-called "Solvency II" regime within the meaning of:

  • Article L. 310-3-2 of the Insurance Code;
  • Article L. 211-11 of the Mutual Insurance Code, with the exception of mutuals and unions that have concluded a substitution agreement under Article L. 211-5 of the Mutual Insurance Code;
  • Article L. 931-6-1 of the Social Security Code;

• Additional occupational pension entities within the meaning of:

  • Article L. 381-1 of the Insurance Code;
  • Article L. 214-1 of the Mutual Insurance Code;
  • Article L. 942-1 of the Social Security Code; which:

• Declare a net premium amount exceeding 10 million euros in categories 1, 2, 4, 5, 7, 8, 9, 10, 11, 12, 13, and 14 (defined in Articles A. 344-2 of the Insurance Code, A. 114-1 of the Mutual Insurance Code, and A. 931-11-10 of the Social Security Code);

• And for which the cumulative amount of life insurance provisions and the amount of provisions for unit-linked contracts exceeds 100 million euros.

Entities cease to be subject to this Instruction if they no longer meet these conditions for two consecutive financial years.

"Non-redeemable Contracts": Contracts mentioned in Article L. 132-23 of the Insurance Code and contracts mentioned in Article L. 223-22 of the Mutual Insurance Code, with the exception of those for which the mutual or union cannot refuse reduction or redemption. As provided by Article L. 932-23 of the Social Security Code, Article L. 132-23 of the Insurance Code applies to provident institutions and unions of provident institutions governed by Title III of Book IX of the Social Security Code.

"Contracts and Unit-Linked Supports": Contracts and supports defined in the second indent of Articles L. 131-1 of the Insurance Code and L. 223-2 of the Mutual Insurance Code. As provided by Article L. 932-23 of the Social Security Code, Article L. 131-1 of the Insurance Code applies to provident institutions and unions of provident institutions governed by Title III of Book IX of the Social Security Code.

Article 2: Reporting Entities shall transmit to the General Secretariat of the Prudential Control and Resolution Authority the weekly data from the table appearing in Annex 1 of this Instruction, no later than 5 calendar days after the end of the week. Regarding quarterly data, these must be submitted no later than 30 calendar days after the end of the quarter. Information submitted under this Instruction must be sent electronically to the following address: SuiviFlux@acpr.banque-france.fr. Starting January 1, 2025, this data must be submitted via electronic transmission in office software format on the Banque de France's Onegate portal.

Article 3: The submission table for the collection of flows on life insurance contracts is divided into four sections: redeemable euro-denominated contracts and supports, redeemable unit-linked contracts and supports, non-redeemable euro-denominated contracts and supports, and non-redeemable unit-linked contracts and supports. Specific additional information for Euro PEAs (Plan Épargne Retraite) and unit-linked PEAs is required. Only direct business must be taken into account to prepare the submission table.

The concerned contracts, both redeemable and non-redeemable, correspond to contracts included in categories 1, 2, 4, 5, 7, 8, 9, 10, 11, 12, 13, and 14 defined in Articles A. 344-2 of the Insurance Code, A. 114-1 of the Mutual Insurance Code, and A. 931-11-10 of the Social Security Code.

Unless otherwise stated, the variables in the table coincide with those of state FR13.01 of the Specific National States (ENS) for insurance entities outside ORPS and state RC. 13.07 for ORPS according to the conversion table appearing in Annex 2.

Article 4: Instruction No. 2013-I-15 of November 12, 2013, regarding the monitoring of flows on life insurance contracts, modified by Instruction No. 2017-I-18 of October 12, 2017, is repealed and replaced by this Instruction. References to the repealed Instruction No. 2013-I-15 found in other Instructions shall be understood as references to this Instruction.

Article 5: This Instruction enters into force on July 1, 2024. The first quarterly submission applies to the deadlines of the 1st and 2nd quarters of 2024, and the first weekly submission applies to deadlines starting from June 3, 2024.

Paris, December 8, 2023

For the Insurance Sub-College The President, Jean-Paul FAUGÈRE