L'étude de la réglementation européenne PRIIPS (Packaged Retail and Insurance-based Investment Products) et son impact sur ABN Amro Life S.A.

Abstract

PRIIPS, standing for « Packaged Retail and Insurance-Based Investment Products », is a new regulation published on December 9th 2014 in the Official Journal of the European Union and is due to be applicable from January 2017. This regulation’s major issue is the drafting of a Key Information Document, the KID. This document will be provided to retail investors pre-contractually in order to help them compare and understand the features of investment products as well as their associated risks. Therefore, the regulation requires the provision of specific information, such as the overall cost that will arise in making the investment or the risk and return that retail investors could expect. However, what about this regulation’s scope? The actors involved are the manufacturers of « Packaged Retail and Insurance-based Investment Products ». It thus affects financial institutions, including banks, investment funds and life insurance companies that produce such products. This thesis studies this new European regulation PRIIPS and its impact on ABN AMRO Life S.A., a life insurance company in Grand-Duché de Luxembourg. Given the scope and the incoming application of this regulation, ABN AMRO Life has to carry out its research promptly in order to be compliant with PRIIPS. After presenting the regulation in details, I will state the different issues ABN AMRO Life has to take into account with PRIIPS as well as its possible solutions. Then, I will disclose a draft of a KID based on the characteristics of ABN AMRO Life insurance contracts and I will finally expose the process to implement the production of Key Information Documents in the future.