Section III: Policyholder and beneficiary information and pricing

Articles in this section · 32

A132-1A132-1-1A132-2A132-3A132-4A132-4-1A132-4-2A132-4-3A132-4-4A132-4-5A132-4-6A132-4-7A132-4-8A132-5A132-5-1A132-5-2A132-5-3A132-6A132-7A132-7-1A132-8A132-9A132-9-1A132-9-2A132-9-3A132-9-4A132-9-5A132-9-6Annexe art. A132-4Annexe à l'article A132-9-4Annexe à l'article A132-9-5Annexe à l'article A132-9-6

Article A132-5-1

French Insurance CodeIn force
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Updated 7 Nov 2023

For the application of Article A. 132-4-1 to people's pension savings plans with a diversification provision, the obligation to provide information on the transfer values mentioned in Article L. 132-5-3 may be validly fulfilled in b of 3° of the model prospectus attached to Article A. 132-4 as follows.

I. - General information on the transfer values of individual rights under policies containing commitments giving rise to a diversification reserve.

1° The transfer value is shown in a table for at least the first eight years. The table clearly distinguishes between the portion of the transfer value relating to the diversification reserve and the mathematical reserve of commitments giving rise to a diversification reserve and the portion, if any, relating to the mathematical reserve of unit-linked commitments and commitments in euros. The transfer value of the diversification reserve is expressed as a number of units. At the time of enrolment, the amount of the contribution allocated to the diversification reserve can be determined; as the exact number of units is not known until the next statement of the profit-sharing account mentioned in III of article A. 132-11 or the next interim statement mentioned in article A. 134-4, the transfer value for the first eight years is indicated for a generic number of units.

2° It is clearly stated that the insurer is only committed to the number of units, subject to the indications in 3°, 4° and 5°, and not to the value of the diversification reserve unit, which is subject to fluctuations upwards and downwards.

When certain deductions cannot be determined when the notice is provided, it is indicated in very clear lettering immediately after the table mentioned in article L. 132-5-2 that the transfer value does not take account of the said deductions, specifying when this is the case, also in very clear lettering, that the deductions are not capped in terms of the number of units of the diversification provisions.

3° It is clearly stated that the diversification reserve units may be cancelled in the event of the implementation of a commitment representation agreement, in accordance with the provisions of article R. 144-19.

4° It is indicated that the number of units in the diversification provision may be modified by allocation of technical and financial results, in accordance with articles R. 134-1, R. 134-5 and R. 134-6.

5° Where the plan provides for the transfer value to be reduced by an indemnity vested in the plan, the method of calculating this indemnity is indicated, with the stipulation that it is nil at the end of a period of ten years from the date of joining the plan.

6° Any charges levied by the insurance company on the amounts transferred are also indicated.

II and III (paragraphs repealed)

Mariela Petrova

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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

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