Regulatory Alerts2018-07-11
Instruction No. 2018-I-08 of July 11, 2018 amending Instruction No. 2015-I-34 regarding information to be transmitted to the ACPR for acquisitions or extensions of participation in insurance or reinsurance undertakings
The Autorité de Contrôle Prudentiel et de Résolution (ACPR) issued Instruction No. 2018-I-08 to amend the submission requirements for dossiers related to the acquisition or extension of qualifying participations in insurance and reinsurance entities. The amendment replaces Article 2 of the original instruction to mandate that dossiers be submitted in French via both postal mail and electronic means to specified ACPR addresses. These changes entered into force on the date of publication, July 11, 2018, ensuring alignment with European supervisory guidelines.
AUTHORITÉ DE CONTRÔLE PRUDENTIEL ET DE RÉSOLUTION
Instruction No. 2018-I-08 amending Instruction No. 2015-I-34 dated December 17, 2015 regarding information to be transmitted to the Autorité de contrôle prudentiel et de résolution in the context of the acquisition or extension of participation in an insurance undertaking, reinsurance undertaking or in an insurance holding company
The Autorité de contrôle prudentiel et de résolution, Having regard to the Common Guidelines on the prudential assessment of acquisitions and increases of qualifying holdings in entities of the financial sector of the European Supervisory Authorities of December 20, 2016; Having regard to the Insurance Code, particularly Article L. 381-3 thereof; Having regard to Instruction No. 2015-I-34 regarding information to be transmitted to the Autorité de contrôle prudentiel et de résolution in the context of the acquisition or extension of participation in an insurance undertaking, reinsurance undertaking or in an insurance holding company; Having regard to the opinion of the Consultative Commission on Prudential Affairs dated June 20, 2018,
DECIDES
Article 1: Article 2 of Instruction No. 2015-I-34 is replaced by the following provisions:
The file, drafted in French, must be transmitted in two copies by post to the following address: General Secretariat of the Autorité de contrôle prudentiel et de résolution Directorate of Authorizations 66-2789 Insurance Bodies Service 4 place de Budapest, CS 92459, 75 436 Paris Cedex 09
This file must also be sent electronically to the following email address: 2789-soa-ut@acpr.banque-france.fr
Article 2: The annex to Instruction No. 2015-I-34 is replaced by the annex to this Instruction.
Article 3: This Instruction shall enter into force on the date of its publication.
Paris, July 11, 2018
For the Insurance Sector Sub-College The President, [Bernard DELAS]