Instruction No. 2017-I-18 of 12 October 2017 amending Instruction No. 2013-I-15 of 12 November 2013 regarding the monitoring of flows on life insurance contracts

PRUDENTIAL CONTROL AND RESOLUTION AUTHORITY

Instruction No. 2017-I-18 amending Instruction No. 2013-I-15 of 12 November 2013 regarding the monitoring of flows on life insurance contracts

The Prudential Control and Resolution Authority, Having regard to the Monetary and Financial Code, in particular Article L. 612-24, the seventh indent of Article L. 612-33, and the fifth indent-ter of Article L. 631-2-1; Having regard to the Insurance Code, in particular Articles L. 131-1, L. 132-21, L. 132-23, and A. 344-2; 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 and L. 932-23; Having regard to the opinion of the Prudential Affairs Consultative Commission of 11 September 2017; DECIDES

Article 1
The definition of entities subject to Article 1 of Instruction No. 2013-I-15 is replaced as follows:

"Article 1
"Entities subject to monitoring":

• insurance and reinsurance entities subject to the so-called "Solvency II" regime 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 mutual societies 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.

who:

• 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 sum of the amount of life insurance provisions and the amount of provisions for unit-linked contracts exceeds 100 million euros.

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

Article 2
The fourth indent of Article 3 of Instruction No. 2013-I-15 is replaced as follows:

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

Article 3
Annex 2 to the aforementioned Instruction No. 2013-I-15 is replaced by the Annex to this instruction.

Article 4
This instruction enters into force upon its publication in the Official Register of the Prudential Control and Resolution Authority.

Paris, 12 October 2017

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

3
Annex
Annex 2 to Instruction No. 2013-I-15
Definition of variables

a) Variables referencing the annexes to ACPR Instructions regarding the annual prudential documents to be communicated by subject entities

"Premiums": Take the definition of line R0050 "Net premiums" from the FR.13.01 statement of the Specific National Tables.

"Benefits": Sum of lines R0060, R0070, and R0080 of the FR.13.01 statement of the Specific National Tables.

"of which surrenders": Take the definition of line R0080 of the FR.13.01 statement of the Specific National Tables.

"Provisions": The figure from line R0160 "life insurance provisions at the end of the financial year" of the FR.13.01 statement of the Specific National Tables.

b) Other variables

"Net arbitrages of unit-linked units to euros": The difference between arbitrages of unit-linked supports to redeemable euro supports and arbitrages of redeemable euro supports to unit-linked supports.