Regulatory Alerts2015-05-29
Instruction No. 2015-I-05 of May 29, 2015, regarding approval requests for the valuation and classification of unlisted own funds items, as amended by Instruction 2024-I-11 of October 21, 2024
The Prudential Control and Resolution Authority (ACPR) establishes the procedural requirements for insurance and mutual organizations subject to Solvency II to obtain prior approval for the valuation and classification of own funds items not explicitly listed in EU regulations. Applicants must submit a detailed electronic dossier containing a presentation letter with specific legal, monetary, and classification justifications, alongside supporting documents, before applying for recognition under domestic insurance code provisions. Furthermore, regulated entities are obligated to immediately notify the ACPR of any material modifications to the approved items or initial application data, which may necessitate the submission of a new approval request.