French Insurance Code
In forceI - For commitments covered by article L. 134-1, during the period of application of article R. 342-3, information relating to the allocation of assets by the insurance undertaking due to insufficient representation of commitments is provided against receipt prior to subscription, membership or the first conversion request.
II - Policyholders or members are notified in writing of the application of article R. 342-3, within a period which may not exceed one month.
III.Notwithstanding article A. 132-7, the insurance undertaking shall, at its request and at least once a year, inform the policyholder or member, for each commitment giving rise to the constitution of a diversification reserve, of the amount of capital or annuities guaranteed, the number of units of the diversification reserve held and their value, the total surrender value of the contract and, for the individual subscriber or the member, the annual change in these amounts and values since the date of subscription or membership or for the last five years when the date of subscription or membership is more than five years earlier. These data are established as at the date of calculation of the last share value of the technical diversification reserve.
IV -The insurance undertaking shall provide, on its website or, in response to a request, in writing, to policyholders or members of a contract comprising commitments giving rise to the constitution of a diversification provision allocated to a subsidiary allocation account mentioned in Article L. 134-2, the following information, as at the date of the last available annual account statement, specifying :
1° The breakdown by category of the assets held in the sub-accounting system;
2° The performance of the assets over the year;
3° The amount of mathematical provisions and diversification provisions.
