French Insurance Code
In forceI.- Distribution as an insurance or reinsurance intermediary and as an insurance intermediary on an ancillary basis may only be carried out for remuneration by the following categories of persons:
1° Insurance or reinsurance brokers, who are natural persons or companies registered as insurance brokers. These persons carry out distribution in accordance with the procedures mentioned in b or c of II of article L. 521-2 ;
2° Les agents généraux d'assurance, personnes physiques ou personnes morales, titulaires d'un mandat ou chargées à titre provisoire pour une durée de deux ans maximum non renouvelable des fonctions d'agent général d'assurance. These persons carry out distribution in accordance with the procedures mentioned in a of II of article L. 521-2 ;
3° Les mandataires d'assurance, personnes physiques non salariées et personnes morales autres que les agents généraux d'assurance, mandatées à cet effet par une entreprise d'assurance. These persons carry out their activities in accordance with the procedures set out in a or b of II of Article L. 521-2;
4° The agents of insurance intermediaries, self-employed natural persons and legal entities mandated by a natural person or legal entity mentioned in 1°, 2°, 3° or 6° of this article.
The activity of the persons referred to in 3° and 4° of this article is limited to presenting, proposing or assisting in the conclusion of an insurance transaction within the meaning of article R. 511-1, and possibly to the physical collection of premiums or contributions, and, in addition, with regard to life insurance and capitalisation, to the physical remittance of sums due to policyholders or beneficiaries.
This limitation does not apply to
1° To credit institutions and finance companies as defined in article L. 511-1 of the Monetary and Financial Code;
2° Persons exercising insurance mandates in classes 4, 5, 6, 7, 11 and 12 mentioned in article R. 321-1 of this code, as well as in class 10 of the same article as regards carrier's liability, to the exclusion of all other classes.
5° Natural persons employed for this purpose :
a) Either by an insurance company ;
b) Or by a reinsurance undertaking;
c) Or by a natural person or a legal entity mentioned in 1° above;
d) Or by a natural person or a legal entity referred to in 2° above;
e) Or by a natural person or a legal entity referred to in 3° above;
f) Or by a natural person or legal entity referred to in 4° above;
6° Intermediaries registered in another Member State of the European Union or in another State party to the Agreement on the European Economic Area to carry on insurance distribution business, when they have previously notified the supervisory authority in their home country responsible for registering insurance and reinsurance intermediaries of their intention to carry on business in France, as well as the employees of these persons.
II - An intermediary may operate in more than one of the categories mentioned in 1° to 4° of I of this article.
