INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of March 2, 2021 No. 5745-U

About modification of the Provision of the Bank of Russia of November 16, 2016 No. 558-P "About rules of forming of insurance reserves on insurance to other, than life insurance"

Based on Item 2 of article 26 of the Law of the Russian Federation of November 27, 1992 No. 4015-1 "About the organization of insurance case in the Russian Federation" (Sheets of the Congress of People's Deputies of the Russian Federation and the Supreme Council of the Russian Federation, 1993, No. 2, Art. 56; Russian Federation Code, 1998, No. 1, Art. 4; 2018, No. 18, Art. 2557):

1. Bring in the Provision of the Bank of Russia of November 16, 2016 No. 558-P "About rules of forming of insurance reserves on insurance to other, than life insurance", registered by the Ministry of Justice of the Russian Federation on December 29, 2016 No. 45054, the following changes.

1.1. In Item 3.5:

to declare paragraph two of subitem 3.5.2 invalid;

add with subitem 3.5.3 of the following content:

"3.5.3. The size of stabilization reserve on accounting group for the calculating date which is not matching with reporting is accepted to the equal size of stabilization reserve on the corresponding accounting group on the next reporting date previous settlement.".

1.2. In Item 4.2 of the word "Item 1 of Appendix 6" shall be replaced with words "Appendix 6".

1.3. State Item 7.7 in the following edition:

"7.7. Information, stipulated in Item 7.2 this provision, can be provided by the insurer to the Bank of Russia according to the order of interaction of the Bank of Russia with not credit financial credit institutions determined based on parts one and the eighth article 76.9 of the Federal Law of July 10, 2002 No. 86-FZ "About the Central bank the Russian Federation (Bank of Russia)" (The Russian Federation Code, 2002, No. 28, Art. 2790; 2016, No. 27, Art. 4225).".

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