THE RESOLUTION OF BOARD OF THE AGENCY OF THE REPUBLIC OF KAZAKHSTAN ON REGULATION AND SUPERVISION OF THE FINANCIAL MARKET AND THE FINANCIAL ORGANIZATIONS

of March 25, 2006 No. 85

About approval of the Instruction on requirements to evaluation methods and calculation principles of insurance rates on classes (types) of insurance of the insurance (reinsurance) organizations, branches of the insurance (reinsurance) nonresident organizations of the Republic of Kazakhstan

For the purpose of protection of consumer interests of insurance services, receipt of qualitative analysis of the sizes of insurance rates established by insurance company, and also determination of requirements to the used statistics and procedure of payments of insurance rates, the Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations (further - the Agency) DECIDES:

1. Approve the enclosed Instruction on requirements to evaluation methods and calculation principles of insurance rates on classes (types) of insurance of the insurance (reinsurance) organizations, branches of the insurance (reinsurance) nonresident organizations of the Republic of Kazakhstan.

2. This resolution becomes effective after fourteen days from the date of state registration in the Ministry of Justice of the Republic of Kazakhstan.

3. To department of supervision of subjects of the insurance market and other financial organizations (Karimullin A. A.):

1) together with Legal department (Baysynov M. B.) to take measures to state registration in the Ministry of Justice of the Republic of Kazakhstan of this resolution;

2) in ten-day time from the date of adoption of this resolution to bring this resolution to the attention of the interested divisions of the Agency, the insurance (reinsurance) organizations, actuaries, Consolidation of legal entities "Association of financiers of Kazakhstan", Public association "Society of Actuaries of Kazakhstan".

4. To department of the international relations and public relations (Pernebayev T. Sh.) take measures to the publication of this resolution in mass media of the Republic of Kazakhstan.

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