Section V: Technical and financial profit-sharing

Articles in this section · 9

A132-10A132-11A132-12A132-13A132-14A132-15A132-16A132-16-1A132-17

Article A132-14

French Insurance CodeIn force
Ask for lawyer reviewed or certified translation

Updated 7 Nov 2023

For the purpose of drawing up the account defined in Article A. 132-13, the share of the financial result to be entered as revenue in this account is equal to the sum of the following two elements :

1. The product of the average amount over the financial year of technical reserves gross of reinsurance cessions, corresponding to items 3b, 3c, 3e and 3h of the balance sheet liabilities model set out in Article 421-4 of Regulation no. 2015-11 of 26 November 2015 of the French Accounting Standards Authority relating to the accounting framework for insurance companies, of contracts in the categories mentioned in 1 to 7 of Article A. 344-2, and less the value, calculated in accordance with Articles R. 343-9 and R. 343-10, of the transferred assets mentioned in 2, by the rate of return on investments ;

2. The total amount of net financial income relating to assets transferred with a portfolio of contracts by an undertaking mentioned in 1° of Article L. 310-1 and allocated to a separate accounting section pursuant to Article L. 324-7, divided by 1 minus the share of unrealised capital gains retained by the transferring insurer at the time of the transfer.

The rate of return provided for in 1 of this article is equal to the ratio of :

- of the net income from the investments considered, appearing in Article 422-4 of Regulation No. 2015-11 of 26 November 2015 of the French Accounting Standards Authority relating to the accounting framework for insurance undertakings, to the life insurance technical account, under item II. 2 "Investment income" less item II. 9 "Investment expenses", after deduction of the income from the investments referred to in a, b and c of I of Article R. 344-1 and dividends relating to direct holdings in a supplementary occupational pension fund ;

- the average amount, over the course of the financial year, of investments other than those mentioned in a, b and c of I of Article R. 344-1, as well as those relating to a subsidiary allocation account covered by Article L. 142-4 and investments relating to direct holdings in a supplementary occupational pension fund.

The calculation provided for in this article is made separately for commitments covered by I, IV and V of article A. 132-11 respectively.

Mariela Petrova

Need help applying this article to your situation?

A registered French Lawyer explains what applies to your business — in English, fixed fee.

within 48h

Fixed Fee

Talk to a lawyer
Previous articleArticle A132-13Next articleArticle A132-15
Common Questions

Working with a corporate lawyer in France — Q&A

Any time a strategic decision changes how the company is owned, governed or contractually bound — incorporation, fundraising, M&A, restructuring, shareholder agreements, or major commercial contracts. Earlier engagement always costs less than later remediation.

A notary (notaire) is a public officer who authenticates specific deeds (mainly real-estate transfers and certain family-law acts). A corporate lawyer (avocat) advises on strategy, negotiates and drafts company documents, and represents you in disputes. The two roles complement rather than overlap.

Yes — most of our clients are foreign suppliers, investors or holding entities. We bridge the gap between French law and your home jurisdiction's expectations and deliver everything bilingually.

The SAS (Société par Actions Simplifiée) is the default choice for most international structures: flexible governance, single shareholder allowed, no minimum capital, and works cleanly with foreign holding entities. We assess SARL, SA, SCI on the merits when the situation calls for it.

Yes — communications with a French avocat are protected by the secret professionnel (Article 66-5 of the Law of 31 December 1971). This protection is broader than the common-law attorney-client privilege and applies to written and oral exchanges.

We work on fixed fees for clearly scoped engagements (incorporation, contract drafting, audits) and on monthly retainers for ongoing advisory. Hourly billing is the exception, not the default. You always know the cost before work starts.

Typical timeline is 2–3 weeks from KYC kick-off to RCS registration, assuming standard documentation. Holding-company structures, foreign-shareholder identification or in-kind contributions can extend this — we flag the gating items at the first meeting.

Absolutely. We routinely coordinate with your in-house counsel, expert-comptable or notaire — pragmatic collaboration is the norm, not the exception. We send them everything they need to do their part without duplicating work.

Mariela Petrova

Mariela Petrova

Avocate au Barreau de Paris

Toque #C2396

15+ Years In Corporate Practice

English · French · Russian

Ready When You Are

Talk To A Corporate
Lawyer In France.

A 20–30 minute call, in English, to scope the engagement. No obligation, no preliminary fee. You will leave the call with a clear view of what the work will cover and what it will cost.

Talk To A Corporate Lawyer+33 1 84 88 31 00
First EngagementFixed Fee

Talk to a French lawyer.

Reply within 24 hours.

Communications protected by professional secrecy — secret professionnel de l'avocat, Article 66-5 of the Law of 31 December 1971.

Continue Reading

Related corporate services in France

01 / Setup

Setting up a French company

Choose between SAS, SARL, SA or SCI — and structure your first French entity around how you actually plan to operate.

Read More
02 / Operating

French commercial contracts

Distribution, agency, supply, services and IP licences — drafted around the protections French law actually gives.

Read More
03 / Disputes

Business disputes & litigation

Shareholder conflicts, commercial breaches and pre-litigation strategy — handled by the same team that knows the file.

Read More