of March 26, 2020 No. 23
About introduction of amendments to the resolution of Board of National Bank of the Republic of Kazakhstan of January 31, 2019 No. 13 "About approval of Requirements to forming, method of calculation of insurance reserves and their structure"
For the purpose of enhancement of regulatory legal acts of the Republic of Kazakhstan Board of the Agency of the Republic of Kazakhstan on regulation and development of the DECIDES: financial market
1. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of January 31, 2019 No. 13 "About approval of Requirements to forming, method of calculation of insurance reserves and their structure" (it is registered in the Register of state registration of regulatory legal acts of the Republic of Kazakhstan at No. 18290, it is published on February 25, 2019 in Reference control bank of regulatory legal acts of the Republic of Kazakhstan) the following changes:
in Requirements to forming, method of calculation of the insurance reserves and their structure approved by the specified resolution:
state Items 3 and 4 in the following edition:
"3. Insurance reserves are created by the insurance (reinsurance) organization separately according to each insurance contract (reinsurance) and (or) on each class of insurance, and (or) on the loss everyone declared, but not settled, depending on type of insurance reserve, stipulated in Item 5 Requirements. Calculation of insurance reserves is made taking into account amount of obligations assumed by the insurance (reinsurance) organization on all to the signed insurance contracts (reinsurance) regardless of the subsequent risks reinsurance.
The actuary perfroms calculation of insurance reserves on the basis of information containing in the reporting of the insurance (reinsurance) organization, and other information.
4. The actuary no later than 10 (tenth) working days of the month following reporting quarter constitutes in time on paper in any form reasons by calculation of insurance reserves which are signed by the actuary and are stored in insurance company.
Reasons by calculation of insurance reserves contain:
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