Freedom of establishment and freedom to provide services
The freedom of establishment is the possibility for an insurance undertaking licensed in an EEA Member State to provide insurance services on the territory of another EEA Member State from a permanent entity located in the host country (e.g. branch, …).
The freedom to provide services is the possibility for an insurance undertaking licensed in an EEA Member State to provide its insurance services on the territory of another EEA Member State without permanent establishment.
List of insurers benefiting from the European passport as of January 2019:
- EEA undertakings providing insurance services in France by way of freedom to provide services
- French undertakings providing insurance services by way of freedom to provide services
- European branches of EEA undertakings providing insurance services in France by way of freedom to provide services
- European branches of French undertakings providing insurance services in the EEA by way of freedom to provide services
Please note that individual certificates are no longer delivered. It is necessary to refer to the information contained in the lists. This information evolves in line with authorizations and notifications or updates.
Notification for a request about freedom to provide service and/or freedom of establishment.
Files must be both sent by post and by e-mail to the following addresses :
Secrétariat Général de l’Autorité de contrôle prudentiel et de résolution
Direction des Agréments, des Autorisations et de la Réglementation
Service des Organismes d’Assurances – Passeport Européen
75436 Paris Cedex 09
E-mail address: 2789-PASSEPORTSEUROPEENS-UT@acpr.banque-france.fr
Notifications may give rise to requests for clarification or additional information (cf decision EIOPA-BoS-17/014 30th january 2017 paragraphe 3.1 .1 and paragraphe 3.2 1).
The ACPR must immediately process the incoming passports notifications under freedom to provide services and has a two months period in case of freedom establishment (branch creation).This period runs from the date of receipt of the complete file.
Authorisations required for covering "statutory" risks
As stated in the ACPR's 2013 annual report, the Authority considers that the offer to hedge the so-called "statutory" risks, i.e. corresponding to the coverage of local authorities against "contingency" type risks affecting their employees they should compensate, requires licences in classes 1, 2, 20 and 21 for insurance undertakings authorised in France .
The ACPR has been informed, notably by local authorities, of offers to hedge "statutory risks" issued by insurance undertakings operating in France under the freedom of establishment or freedom to provide services, which do not have such authorisations.
In this context, the ACPR wants to inform all the concerned stakeholders that as regards actors operating in France under the freedom of establishment or freedom to provide services, the competent authority of the home Member State is responsible for the authorisation. However, the ACPR informed the concerned competent authorities of its analysis regarding the authorisations required to insure this type of risk and referred the matter to the European Insurance and Occupational Pensions Authority (EIOPA) for mediation, in application of provisions of Article 31 of Regulation (EU) No 1094/2010 of 24 November 2010.
Pending the conclusions of this mediation, the ACPR recalls that, from a technical point of view, and on the basis of its economic reality, the original hazard relating to so-called "statutory" risks, is a risk of death, disability or incapacity, which affects the community agent.
Under these conditions, the ACPR confirms that a licence in classes 1, 2, 20 and 21 enables to ensure an adequate level of prudential requirements with regard to the risks covered.
Updated on: 02/01/2019 12:20