Instruction No. 2013-I-15 of November 12, 2013, regarding the monitoring of flows on life insurance contracts, as amended by Instruction No. 2017-I-18 of October 12, 2017 (consolidated version)

PRUDENTIAL CONTROL AND RESOLUTION AUTHORITY

Instruction No. 2013-I-15 dated November 12, 2013, regarding the monitoring of flows on life insurance contracts, as amended by Instruction No. 2017-I-18 dated October 12, 2017

The Prudential Control and Resolution Authority,

Having regard to the Monetary and Financial Code, in particular Article L. 612-24 and the fourth subparagraph of Article L. 612-33;

Having regard to the Insurance Code, in particular Articles L. 131-1, L. 132-21, L. 132-23, A. 344-2, and A. 344-10;

Having regard to the Mutual Code, in particular Articles L. 223-2, L. 223-22, and A. 114-5;

Having regard to the Social Security Code, in particular Articles A. 931-11-10, A. 931-11-17, and L. 932-23;

Having regard to the opinion of the Consultative Commission on Prudential Affairs dated November 4, 2013;

Decides:

Article 1

For the application of this instruction, the following terms are defined below:

"Subject Entities":

• Insurance and reinsurance entities subject to the so-called "Solvency II" regime, as mentioned in Articles L. 310-3-1 of the Insurance Code, L. 211-10 of the Mutual Code, and L. 931-6 of the Social Security Code;
• Entities not subject to the so-called "Solvency II" regime within the meaning of:
  • Article L. 310-3-2 of the Insurance Code;
  • Article L. 211-11 of the Mutual Code, with the exception of mutuals and unions that have concluded a substitution agreement pursuant to Article L. 211-5 of the Mutual Code;
  • Article L. 931-6-1 of the Social Security Code, which:
  • declare a net premium amount exceeding 10 million euros in categories 1, 2, 4, 5, 7, 8, 9, and 13 (defined in Articles A. 344-2 of the Insurance Code, A. 114-1 of the Mutual Code, and A. 931-11-10 of the Social Security Code);
  • and for which the cumulative amount of life insurance provisions and the amount of provisions for unit-linked contracts exceeds 100 million euros.

Entities cease to be subject to this instruction if they no longer meet these conditions for two consecutive financial years.

"Non-redeemable Contracts": Contracts mentioned in Article L. 132-23 of the Insurance Code and contracts mentioned in Article L. 223-22 of the Mutual Code, with the exception of those for which the mutual or union cannot refuse reduction or redemption. As provided by Article L. 932-23 of the Social Security Code, Article L. 132-23 of the Insurance Code applies to provident institutions and unions of provident institutions governed by Title III of Book IX of the Social Security Code.

"Contracts and Unit-Linked Supports": Contracts and supports defined in the second subparagraph of Articles L. 131-1 of the Insurance Code and L. 223-2 of the Mutual Code. As provided by Article L. 932-23 of the Social Security Code, Article L. 131-1 of the Insurance Code applies to provident institutions and unions of provident institutions governed by Title III of Book IX of the Social Security Code.

Article 2 – Subject Entities shall transmit to the General Secretariat of the Prudential Control and Resolution Authority, each week, the table appearing in Annex 1 of this instruction, no later than within a period of 5 calendar days. The information provided in application of this instruction must be sent electronically to the following address: SuiviFlux@acpr.banque-france.fr.

Article 3 – The submission table for the collection of flows on life insurance contracts is divided into three sections: redeemable euro contracts and supports, unit-linked contracts and supports, and non-redeemable contracts and supports. Only direct business must be taken into account to prepare the submission table.

Redeemable and non-redeemable euro contracts and supports, taken globally, are contracts included in categories 1, 2, 4, 5, 7, 10, 11, 12, and 13, defined in Articles A. 344-2 of the Insurance Code, A. 114-1 of the Mutual Code, and A. 931-11-10 of the Social Security Code.

Unit-linked contracts are contracts included in categories 8 and 9, defined in Articles A. 344-2 of the Insurance Code, A. 114-1 of the Mutual Code, and A. 931-11-10 of the Social Security Code.

Unless otherwise stated, the variables in the table coincide with those of the FR.13.01 statement of the Specific National Supervisory Reports (ENS) according to the conversion table appearing in Annex 2 of this instruction.

Article 4 – This instruction enters into force on Monday, December 30, 2013. Subject Entities need only provide information relating to non-redeemable contracts starting from June 30, 2014.

Article 5 – Each year, technical specifications clarify the correspondence between the weeks indicated on the template and the calendar of the civil year.

Article 6 – This instruction will be published in the official register of the Prudential Control and Resolution Authority.

Paris, November 12, 2013

The President of the Prudential Control and Resolution Authority, [Christian NOYER]