Regulatory Alerts2011-11-23
Instruction No. 2011-I-16 on the Composition of the Prior Declaration File for Affiliation, Withdrawal, or Exclusion of a Group Mutual Union
The Prudential Control Authority issued Instruction No. 2011-I-16 to define the mandatory components of the prior declaration file required for the affiliation, withdrawal, or exclusion of a group mutual union. The regulation specifies that applicants must submit detailed information regarding the entities involved, including legal status, governance, financial statements, and solvency margins, alongside documentation of the operational agreement and general assembly decisions. Furthermore, the dossier must include a five-year prospective activity program outlining expected financial flows, solvency margins, and the monitoring mechanisms for the consolidated group's activities.
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