In order to obtain an authorization, an applicant must satisfy the relevant conditions applicable to its activities.

The conditions can vary depending on the particular regulated activities that the applicant intends to carry out in France. Broadly, however, the following conditions will need to be satisfied:

1. Legal form – The regulator will examine if the applicant’s legal form is appropriate for the activities.
2. Business model – The regulator will examine the program of operations as well as the human, technical and financial resources.
3. Shareholders – The regulator will examine the identity and suitability of contributors of capital and, where applicable, their guarantors.
4. Executives – Everyday management of activities shall be entrusted to at least two effective directors, having the power to represent and engage the company and who are fit &and proper (respectability, competence and experience).
5. Location of offices – The applicant’s headquarters have to be located and registered office shallmust be located in France.
6. Effective Supervision – The applicant must be capable of being effectively supervised. The regulator could reject an agreement when its mission may be hampered by a foreign non-European Union regulation or by certain capital links.
7. Appropriate resources – applicantsApplicants must satisfy the regulator that they have adequate resources to carry on the relevant regulated activities. The regulator will check if the minimum required capital is paid up, as well as the quality of the contributors of capital.

Broadly, an insurance or reinsurance company applying for an insurance license in France will have to satisfy similar categories of conditions as set forth in paragraph (a) above, adjusted to the insurance industry. For instance, life and non-life insurance are subject to separate licenses and must be carried on by separate entities (except where one is ancillary to the other).

The conditions applying for the registration of insurance intermediaries are much lighter (for instance, financial capacity is limited to securing financial guarantees and/or a general liability insurance).