Regulatory Alerts2013-10-22
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Formal Notice to La Nantaise Insurance Company by the ACPR
The Prudential Control and Resolution Authority (ACPR) issued a formal notice to La Nantaise Insurance Company on October 4, 2013, requiring it to revise its investment policy. The authority cited the company's excessive focus on real estate as a violation of the specialization rule under the Insurance Code. This non-compliance led to the company failing to meet its regulated commitments, contravening Article R. 332-1 of the Insurance Code.
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