Instruction No. 2015-I-16 of June 30, 2015, regarding documents to be produced for exercising insurance activities in another EEA state (repealed)

PRUDENTIAL CONTROL AND RESOLUTION AUTHORITY

Instruction No. 2015-I-16 regarding documents to be produced in the context of exercising an insurance activity in another EEA state

The Prudential Control and Resolution Authority, Having regard to the Monetary and Financial Code; Having regard to the Insurance Code, particularly Articles L. 321-11 and R. 321-32; Having regard to the Mutual Code, particularly Article L. 211-8-2; Having regard to the Social Security Code, particularly Article L. 931-4-2; Having regard to 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 Prudential Affairs Consultative Committee dated May 28, 2015; Decides:

Article 1 Any insurance organization planning to:

• Either open a branch to exercise activities under the regime of establishment in a Member State of the European Union or another State party to the Agreement on the European Economic Area.
• Or exercise activities under the free provision of services on the territory of a Member State of the European Union or another State party to the Agreement on the European Economic Area, whether from its registered office or a branch established in a Member State of the European Union or another State party to the Agreement on the European Economic Area, in accordance with the provisions of Article R. 321-32 of the Insurance Code, must provide in duplicate to the Prudential Control and Resolution Authority the documents and information mentioned in Articles 2 and 3 of this instruction.

Article 2 The documents and information mentioned in Article 1 include: a) The name and address of the registered office of the organization. b) The name of the Member State on whose territory it intends to operate under freedom of establishment or free provision of services, and in the case where it intends to operate under free provision of services from a branch established in another State, the State where that branch is established. c) A program relating to the planned activity, including the list of branches and sub-branches that the insurance organization intends to practice, and the nature of the risks that the organization intends to cover. d) In the case where the organization intends to cover the risks defined in branch 10, with the exception of carrier liability, a declaration of adherence to the national office and the national guarantee fund of the Member State on whose territory it intends to operate under freedom of establishment or free provision of services, as well as, where applicable, the name and address of the claims management representative it designates in that Member State. e) In the case where the organization intends to cover the risks defined in branch 17, the option chosen among those set out in Article L. 322-2-3 of the Insurance Code or Article L. 224-7 of the Mutual Code. f) In the case where the organization intends to cover the risks defined in branch 18, the personnel and material resources available to the organization, either directly or through an intermediary, to meet its commitments. g) A note detailing the governance arrangements associated with the planned activity, including in particular:

• a description of the dedicated internal control framework (eventual specific procedures and processes);
• a description of internal responsibilities for steering and monitoring the activity and the associated competencies. h) For organizations intending to operate under free provision of services, a dossier describing the means implemented by the organization for the operations it intends to carry out and its activity forecasts for three financial years.

Article 3 For organizations intending to operate under freedom of establishment, the documents and information mentioned in Article 1 also include: a) The address of the branch to which the authorities of the host Member State can request information for the exercise of their competencies. b) The name and powers of the general representative of the branch. c) The form appearing in Annex 1 of Instruction 2015-I-03 and intended to assess the honorability, competence, and experience of the general representative; for the purposes of this instruction, the term "general representative" shall be understood where "effective manager" is mentioned and "branch" where "company" is mentioned in that form. d) An activity program relating to the planned branch activity, including in particular:

• a description of the administrative and commercial organization and the personnel and material resources available to the branch; the forecasts for installation costs of administrative services and the production network, as well as the financial resources intended to cover them;
• as well as activity forecasts for three financial years, including the forecast income statements of the branch.

Article 4 Any project to modify the nature or conditions of exercising authorized activities under freedom of establishment or free provision of services must be notified to the Prudential Control and Resolution Authority, accompanied by those documents mentioned in this instruction that are affected by the modification project, in accordance with paragraph II of Article R. 321-32 of the Insurance Code.

Article 5 The documents must be sent in two copies. One of these copies must include a French version and a certified translated version in the official language of the Member State on whose territory the organization intends to operate, with the exception of the form mentioned in Article 3 c). These documents are sent by mail to the following address: General Secretariat of the Prudential Control and Resolution Authority Direction of Approvals, Authorizations and Regulation 66-2789 Insurance Organizations Service 61, rue Taitbout 75436 Paris Cedex 09 These documents are also communicated by email to the following electronic address: 2789-PASSEPORTSEUROPEENS-UT@acpr.banque-france.fr

Article 6 This instruction enters into force on January 1, 2016. Paris, June 30, 2015 The President of the Prudential Control Authority and Resolution, [Robert OPHÈLE]