Instruction No. 2016-I-26 of December 13, 2016, on the submission of the mandatory annual report regarding life insurance contracts in escheat

PRUDENTIAL CONTROL AND RESOLUTION AUTHORITY

Instruction No. 2016-I-26 on the submission of the mandatory annual report regarding life insurance contracts in escheat

The Prudential Control and Resolution Authority, Having regard to Articles 3 and 4 of Law No. 2014-617 of June 13, 2014, codified in Articles L. 132-9-3-1 of the Insurance Code and L. 223-10-2-1 of the Mutual Code; Having regard to the Order of June 24, 2016, implementing Articles L. 132-9-3-1 and L. 132-9-4 of the Insurance Code and Articles L. 223-10-2-1 and L. 223-10-3 of the Mutual Code, codified notably in Articles A. 132-9-5 of the Insurance Code and A. 223-10-2 of the Mutual Code; Having regard to the opinion of the Prudential Affairs Consultative Committee of November 30, 2016, DECIDES:

Article 1 The following are hereinafter referred to as "subject entities":

• companies carrying out direct insurance activities mentioned in Article L. 310-1 of the Insurance Code and companies mentioned in the last paragraph of the same article;
• mutual societies and unions that carry out operations falling under item 1) of I of Article L. 111-1 of the Mutual Code;
• provident institutions and unions that carry out operations falling under Article L. 931-1 of the Social Security Code;
• persons mentioned in Article L. 612-2 III of the Monetary and Financial Code exercising in France under the freedom of establishment.

Subject entities are exempt from responding if they have never carried out life insurance activities.

Article 2 Subject entities shall annually prepare the report defined, as the case may be, in Article L. 132-9-3-1 of the Insurance Code or in Article L. 223-10-2-1 of the Mutual Code, which specifies in particular the number and outstanding amounts of life insurance contracts and capitalization bonds and contracts, the capital or annuities due of which have not been paid to the beneficiary.

The numerical information appearing in each annual report shall be finalized as of December 31 of the previous year.

The report shall be submitted annually to the ACPR by April 15 at the latest, in the form of a table conforming to the content and requirements set respectively by the Insurance Code and the Mutual Code. By exception, for the submission of the first report relating to data prior to December 31, 2016, it must be submitted by April 30 at the latest.

The table constituting the annual report is accessible on the "OneGate" electronic portal of the Banque de France, in order to be completed there. It must be submitted exclusively in the electronic form thus provided.

The annual report must be validated by a senior manager of the entity or by the person they have authorized for this purpose.

An explanatory note is annexed to this instruction (see annex).

Article 3 This instruction is published in the official register of the Prudential Control and Resolution Authority and enters into application the day following its publication.

Paris, December 13, 2016

For the Insurance Sectoral Sub-College The President [Bernard DELAS]