Regulatory Alerts2021-12-16
Instruction No. 2021-I-24 of 16 December 2021 amending Instruction No. 2016-I-04 of 14 January 2016 on information to be communicated for financial stability purposes (Insurance Sector)
The Prudential Control and Resolution Authority (ACPR) issued Instruction No. 2021-I-24 to align French insurance reporting requirements with EIOPA guidelines and Solvency II frameworks. The instruction updates references to the correct Solvency II reporting instruction, clarifies that data must be submitted using EIOPA models, and removes obsolete annexes A and B from the original 2016 instruction. These changes ensure consistent financial stability data transmission by insurance entities and enter into force upon publication.
PRUDENTIAL CONTROL AND RESOLUTION AUTHORITY
Instruction No. 2021-I-24 amending Instruction No. 2016-I-04 of 14 January 2016 on information to be communicated for financial stability purposes (Insurance Sector)
The Prudential Control and Resolution Authority, Having regard to the Monetary and Financial Code, particularly Article L. 612-24 thereof; Having regard to the Insurance Code; Having regard to the Mutual Insurance Code; Having regard to the Social Security Code; Having regard to EIOPA Guidelines 15/107 on information to be communicated for financial stability purposes; Having regard to Commission Implementing Regulation (EU) 2015/2450 of 2 December 2015 laying down implementing technical standards with regard to the templates for reporting information to supervisory authorities pursuant to Directive 2009/138/EC of the European Parliament and of the Council; Having regard to Instruction No. 2016-I-17 on the transmission to the Prudential Control and Resolution Authority of prudential documents by insurance and reinsurance undertakings subject to the so-called "Solvency II" regime, as amended by Instruction No. 2020-I-15 of 16 December 2020; Having regard to the opinion of the Prudential Affairs Advisory Commission of 16 November 2021,
DECIDES
Article 1: In Article 4, the reference "Instruction No. 2016-I-05" is replaced by the reference: "Instruction No. 2016-I-17".
Article 2: The first paragraph of Article 7 is drafted as follows:
"Data shall be submitted by reporting entities according to the following templates, detailed in the annex to EIOPA Guidelines 15/107 on information to be communicated for financial stability purposes, and according to the frequency indicated below:".
Article 3: Annexes A and B of Instruction No. 2016-I-04 are deleted.
Article 4: This Instruction shall enter into force upon its publication.
Done in Paris, 16 December 2021
For the Insurance Sectoral Sub-College The President, [Jean-Paul FAUGÈRE]