France Market Review - November 2017

A Court of Cassation in France has cleared doubts over the eligibility of structured notes (EMTNs) for life insurance contracts within the French Insurance Code. In its ruling from November 23, 2017 the Paris court declared that EMTNs belong to the category of obligations (bonds) and as such legitimated their right to be used as possible unit-linked life-wrapped vehicles. Insurance products came under fire after a court decision on June 21, 2016 by the Paris Court of Appeal ordered insurer Gen