Instruction No. 2015-I-06 of May 29, 2015 regarding approval requests for the use of the transitional measure on technical provisions

PRUDENTIAL CONTROL AND RESOLUTION AUTHORITY

Instruction No. 2015-I-06 dated May 29, 2015 regarding approval requests for the use of the transitional measure on technical provisions amended by Instruction 2024-I-11 of October 21, 2024

The Prudential Control and Resolution Authority, Having regard to the Monetary and Financial Code, in particular Articles L. 612-2 and L. 612-24; Having regard to the Insurance Code, in particular Articles L. 351-5 and L. 352-9 in their version resulting from Ordinance No. 2015-378 of April 2, 2015 and Articles R. 350-1, R. 351-17 and R. 355-7 in their version resulting from Decree No. 2015-513 of May 7, 2015; Having regard to Delegated Regulation (EU) No 2015/35 of the Commission of October 10, 2014; Having regard to point 2 of I of Article 19 of Ordinance No. 2015-378 of April 2, 2015; Having regard to Decree No. 2015-513 of May 7, 2015; Having regard to the opinion of the Consultative Commission on Prudential Affairs, dated January 30, 2015; Decides:

Article 1
The following are hereinafter referred to as "subject entities": the bodies 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 Code and L. 931-6 of the Social Security Code in their version resulting from Ordinance No. 2015-378 of April 2, 2015.

Article 2
Subject entities wishing to request the approval of the Prudential Control and Resolution Authority, prior to the use or recalculation of the transitional measure on technical provisions mentioned in Article L. 351-5 of the Insurance Code in its version resulting from Ordinance No. 2015-378 of April 2, 2015, shall submit in writing an application, accompanied by an "application file for approval for the use of the transitional measure on technical provisions" whose constituent elements are provided for in the annex to this instruction.

2

Article 3
The application file for approval for the use of the transitional measure on technical provisions must be sent in electronic format to the Prudential Control and Resolution Authority by depositing it at the following address:
https://acpr-portail.banque-france.fr.

Article 4
Following the approval of the use of the transitional measure on technical provisions, subject entities shall notify without delay and in writing to the Prudential Control and Resolution Authority of any substantial modification in the constituent elements of the initial application file for approval, as well as any modification of their risk profile that could affect the calculation of the transitional measure on technical provisions.

Article 5
This instruction shall enter into force upon its publication.

Paris, May 29, 2015
The President of the Prudential Control and Resolution Authority, [Robert OPHÈLE]