On Jul. 7, FR GVT published decrees modernizing insurance, pensions.
FR GVT published Decree 2024-713 and Decree 2024-714, both of Jul. 5, 2024, aimed at modernizing the investment universe for life insurance contracts, capitalization and retirement savings plans.
Decree 2024-713
Expansion of list of assets eligible for life insurance and retirement savings plans (PER) by including specialized financing organizations; savers' protection for some assets.
Expansion of the list of assets eligible for PERs by including specialized professional funds, professional private equity funds, and general-purpose professional funds.
Expansion of investments in life insurance and PERs by allowing the integration of European long-term investment funds (ELTIFs); easier ELTIF subscription conditions.
Easier subscription to specialized professional funds (FPSs) for an arbitration mandate.
Decree 2024-714
Definition of the procedure for policyholders to select funds open to professional investors that may be eligible for unit-linked vehicles distributed in life insurance.
Relevant amendments to Insurance Code (C.ass), Monetary and Financial Code (CMF).
Effectiveness
Both Decrees enter into force on Oct. 24, 2024; with the exception of point 2 of I of article 2 of Decree 2024-713.
