FEDERAL LAW OF THE RUSSIAN FEDERATION

of July 2, 2021 No. 343-FZ

About introduction of amendments to the Law of the Russian Federation "About the organization of insurance case in the Russian Federation" and separate legal acts of the Russian Federation

Accepted by the State Duma on June 15, 2021

Approved by the Federation Council on June 23, 2021

Article 1

Bring in 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; 1999, No. 47, Art. 5622; 2003, No. 50, Art. 4858; 2005, No. 10, Art. 760; No. 30, Art. 3101, 3115; 2007, No. 49, Art. 6048; 2009, No. 44, Art. 5172; 2010, No. 17, Art. 1988; No. 49, Art. 6409; 2011, No. 49, Art. 7040; 2012, No. 53, Art. 7592; 2013, No. 26, Art. 3207; No. 30, Art. 4067; 2014, No. 23, Art. 2934; No. 30, Art. 4224; No. 45, Art. 6154; 2015, No. 10, Art. 1409; No. 27, Art. 3946; No. 29, Art. 4357, 4385; No. 48, Art. 6715; 2016, No. 1, Art. 52; No. 22, Art. 3094; No. 26, Art. 3863, 3891; No. 27, Art. 4225, 4294, 4296; 2017, No. 31, Art. 4830; 2018, No. 1, Art. 10, 66; No. 18, Art. 2557; No. 31, Art. 4840; No. 32, Art. 5113; 2019, No. 18, Art. 2212; No. 49, Art. 6953; 2020, No. 14, Art. 2027; No. 17, Art. 2727; No. 30, Art. 4738; No. 52, Art. 8588; 2021, No. 1, Art. 53) following changes:

Paragraph one of Item 3.2 of article 3 after the words "combining insurance companies" to add 1) with the words "and foreign insurance companies";

2) in Article 4.1:

a) in Item 1:

add with subitem 2.1 of the following content:

"2. 1) foreign insurance companies, including foreign reinsurance organizations;";

to add the subitem 8 after the words "combining insurance companies" with the words "and foreign insurance companies";

b) in Item 2:

the paragraph one after words "Insurance organizations" to add with the words "foreign insurance companies";

third to state the paragraph in the following edition:

"The information about subjects of insurance case is subject to entering into the unified state register of subjects of insurance case. The list of the data containing in the unified state register of subjects of insurance case, and procedure for its maintaining are established by body of insurance supervision.";

paragraphs the fourth and fifth to recognize invalid;

c) the paragraph one of Item 3 after words of "legal entity" to add with words "(insurance company, society of mutual insurance, insurance broker)";

d) add with Item 3.1 of the following content:

"3.1. The name of branch of foreign insurance company shall contain in Russian:

1) the word "branch" with indication of type of activity with use of the words "insurance" and (or) "reinsurance";

2) full name of foreign insurance company, including data on its form of business;

3) the designation of branch of foreign insurance company distinguishing it from other branches of this foreign insurance company in the territory of the Russian Federation.";

e) add with Item 3.2 of the following content:

"3.2. In the name of branch of foreign insurance company use of the name of foreign insurance company in English is allowed.";

e) add item 4 with words ", and also on foreign insurance companies";

3) in Article 6:

a) state Item 1 in the following edition:

"1. Insurers - insurance companies, foreign insurance companies, societies of mutual insurance.

Insurance company - the legal entity created in accordance with the legislation of the Russian Federation for implementation of activities for insurance and (or) reinsurance and who obtained the license for implementation of the corresponding type of insurance activity in the procedure established by this Law.

Foreign insurance company - the foreign legal entity who is conforming to requirements, stipulated in Item 1 article 33.1 of this Law, performing business presence in the territory of the Russian Federation by creation of branch (branches) and obtained the license for implementation of the corresponding type of insurance activity in the territory of the Russian Federation in the procedure established by this Law. Provisions of this Law extend to foreign insurance companies regarding the activities performed in the territory of the Russian Federation through the branches created by them.

The insurance companies, foreign insurance companies performing only activities for reinsurance are respectively the reinsurance organizations and the foreign reinsurance organizations.

Society of mutual insurance - the legal entity created in accordance with the legislation of the Russian Federation for implementation of activities for mutual insurance and who obtained the license for implementation of mutual insurance in the procedure established by this Law.

Insurance companies, including the reinsurance organizations, societies of mutual insurance have no right to perform the business activity which is not connected with insurance activity (insurance case).

Foreign insurance companies, including the foreign reinsurance organizations having no right to perform in the territory of the Russian Federation the business activity which is not connected with insurance activity (insurance case).

Insurers have the right to invest own means (capital) and means of insurance reserves, to perform transactions with property for the purpose of ensuring the activities, including to realize the property acquired for the purpose of ensuring the activities and the property acquired as a result of refusal of the insurer (beneficiary) of the rights to insured property for benefit of the insurer for the purpose of obtaining from it insurance payment in the amount of full insurance sum.";

b) Item 2 in paragraph three "insurer" shall be replaced with words the word "insurance company, society of mutual insurance";

c) in Item 2.2 after words "insurance organization" to add with words ", foreign insurance company", shall be replaced with words the words "requests and receives" "request and receive";

d) in Item 3:

word in paragraph one "the relevant budget federal" shall be replaced with words "budgets of budget system of the Russian Federation";

third after the words "foreign organizations" to add the paragraph with the words "and foreign citizens";

paragraphs the fourth - the eighth to recognize invalid;

add with the paragraph of the following content:

"Foreign insurance companies cannot perform in the Russian Federation compulsory insurance (except for the compulsory insurance performed according to the Federal Law of April 25, 2002 No. 40-FZ "About obligatory civil liability insurance of owners of vehicles"), the insurance connected with implementation of purchases of goods, works, services for ensuring the state and municipal needs, insurance of valuable interests of the state organizations and municipal organizations, insurance of the objects requiring availability of the license for work, connected with use of the data which are the state secret, other insurance at the expense of the funds allocated for these purposes from budgets of budget system of the Russian Federation to executive bodies (insurers).";

e) add with Item 3.1 of the following content:

"3.1. If the amount (quota) of participation of the foreign capital in the authorized capital of insurance companies exceeds 50 percent, the body of insurance supervision stops to grant licenses for implementation of insurance activity to the insurance companies which are subsidiaries in relation to foreign investors (the main organizations) or having share of foreign investors in the authorized capital more than 49 percent and also stops to make decisions on issue (replacement) of licenses for implementation of insurance activity to foreign insurance companies and on accreditation of branches of foreign insurance companies.

The amount (quota) of participation of the foreign capital in the authorized capital of insurance companies is calculated body of insurance supervision annually as of January 1 of the current year in the procedure established by it on the basis of the insurance companies and data on the minimum sizes of security deposits of branches of foreign insurance companies, stipulated in Item 1 article 33.4 of this Law this about the authorized capital.

Information on the amount (quota) of participation of the foreign capital in the authorized capital of insurance companies, on introduction or the termination of the restrictions for foreign investments provided by paragraphs the first and fifth this Item is subject to publication of insurance supervision by body in the printing edition determined by it and is posted on the official site of body of insurance supervision on the Internet within ten days from acceptance date of the relevant decision.

The insurance company shall get preliminary permission of body of insurance supervision to increase in the size of the authorized capital at the expense of means of foreign investors (except as specified increases in share of the foreign investor in the authorized capital of insurance company in nominal terms as a result of increase in the authorized capital of insurance company at the expense of its own means), for alienation for benefit of foreign investors (including for sale to foreign investors) the shares (share in the authorized capital), and the Russian shareholders (participants) shall get preliminary permission of body of insurance supervision to alienation of the stocks (share in the authorized capital) of insurance company owned by them for benefit of foreign investors. Effective period of the specified preliminary permissions constitutes one year.

If the amount (quota) of participation of the foreign capital in the authorized capital of insurance companies established by this Item is exceeded, the body of insurance supervision refuses issue of the preliminary permissions specified in paragraph four of this Item.

Payment by foreign investors of the stocks (share in the authorized capital) of insurance companies owned by them is made exclusively in cash in currency of the Russian Federation.";

e) in Item 4.1:

"Item 3" shall be replaced with words words "Item 3.1";

add with the paragraph of the following content:

"The procedure for issue of preliminary permission of body of the insurance supervision specified in Item 3.1 of this Article, the application form for receipt of the specified preliminary permission, and also procedure for submission of such statement and the documents attached to it are established by body of insurance supervision.";

g) state Item 6 in the following edition:

"6. For the purpose of bringing to insurers, insured persons, beneficiaries, persons having intention to sign the insurance contract information on the activities the insurer shall have own website on the Internet (further - the official site of the insurer) on which the following information in Russian shall be placed:

1) full name, address (location), phone numbers, working hours of the insurer, its branches and representations;

2) information about heads, about shareholders (participants, members) of the insurer;

3) data on documents of title, including data on the primary state registration number (except for foreign insurance company), identification taxpayer number, about registration number in the unified state register of subjects of insurance case, and also data on all licenses of the insurer and terms of their action;

4) the list of the performed types of insurance;

5) rules of insurance and insurance rates;

6) annual accounting (financial) accounts of the insurer and the audit opinion confirming its reliability in three previous accounting years;

7) annual consolidated financial statements and the audit opinion confirming its reliability in three previous accounting years;

8) information on the credit scores assigned to the insurer (in case of assignment), and also about their confirmation, review or response;

9) data on activities of the insurer, on experience of its work on types of insurance;

10) data on participation in associations (unions), including in self-regulatory organizations in the field of the financial market and professional associations of insurers;

11) the information about operators of financial platforms (their names and the websites on the Internet) if the insurer joined service provision agreements of operators of financial platforms;

12) other information which need of publication is stipulated by the legislation the Russian Federation or follows from customs.";

h) add with Item 6.1 of the following content:

"6.1. The requirement about placement of information specified in subitems 1, of the 6 and 7 Item 6 of this Article does not extend to foreign insurance companies.";

i) add with Item 6.2 of the following content:

"6.2. The foreign insurance company in addition to information specified in Item 6 of this Article posts on the official site the following information in Russian:

1) full name of foreign insurance company, the address (location) in the state (in the territory) where the foreign insurance company, data on the right to implementation of insurance and (or) reinsurance in the territory of the state is registered (in the territory) - the member of the World Trade Organization, provided according to the national legal system of this state (this territory), phone numbers, operating mode;

2) the annual accounting (financial) accounts of foreign insurance company for the previous three years of its activities constituted according to International accounting standards or others, other than International accounting standards, internationally acknowledged rules with application of copies of the audit opinions confirming reliability of the specified reporting (in the presence);

3) full name of branch of foreign insurance company, address (location), phone numbers, operating mode;

4) information about heads of branch of foreign insurance company;

5) regulations on branch of foreign insurance company, data on identification taxpayer number, on reason code of registration in tax authority, number of record about accreditation of branch of foreign insurance company in the state register of accredited branches, representations of foreign legal entities and date of its introduction.";

j) in Item 7:

the paragraph one to state in the following edition:

"7. Information on activities of the insurer specified in Items 6 and 6.2 of this Article is subject to placement on its official site within five working days from the date of acceptance by the insurer, authorized body or organization of the relevant decision, and in case of need its registration or the notification on the made decision of authorized bodies from the date of respectively registration, the notification.";

in the paragraph the second shall be replaced with words the words "in Item 6" "in Items 6 and 6.2";

k) in Item 8 of the word "in Item 6" shall be replaced with words "in Items 6 and 6.2";

4) in Article 6.1:

a) in paragraph six of Item 5 of the word "on the Internet to exclude;

b) in paragraph three of Item 6 of the word "on the Internet to exclude;

5) in Article 8:

a) third Item 3 to add the paragraph with words ", and also data on accreditation of branch of foreign insurance company and on the size of its security deposit";

b) in Item 11 of the word "on the websites on the Internet shall be replaced with words "on the official sites", "on the website on the Internet shall be replaced with words words "on the official site";

6) in Item 2 of Article 11:

a) add with the new paragraph the fifth the following content:

"If other is not established by the Federal Laws, foreign insurance companies have the right to apply insurance rates which are calculated according to requirements of the national legal system of the state (territory) where they are registered.";

b) the fifth to consider the paragraph the paragraph the sixth;

c) add with paragraphs of the following content:

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