July 19, 2017

The French Prudential Supervision and Resolution Authority ACPR published a notice on the eligibility of unrealized capital gains in the creation of solvency margins for the institutions for occupational retirement provisions (IORPs). The notice clarifies the terms and conditions for the requests from supplementary occupational pension schemes to include all or part of their unrealized capital gains.

The notice contains sections on the terms of authorization by ACPR (section I), nature of eligible latent capital gains (II), relative importance of the margin recorded in the balance sheet (III), non-exceptional nature of eligible latent capital gains eligibility of group capital (IV), eligibility of group capital (V), resistance tests (VI), own risk and solvency assessment (ORSA; VII), and information to be published. The Appendix contains an example of the calculation of eligibility at group capital level.

Related Link: Notice (PDF in French)

Keywords: Europe, France, Insurance, IORP, Unrealized Capital Gains, Solvency Margins, ACPR

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