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RESOLUTION OF BOARD OF CENTRAL BANK OF THE AZERBAIJAN REPUBLIC

of December 27, 2023 No. 63/3

About approval "Contents, form and procedure for submission of the actuarial conclusion"

Based on article 81-6.6 of the Law of the Azerbaijan Republic "About insurance activity" and article 22.1.17 of the Law of the Azerbaijan Republic "About the Central bank of the Azerbaijan Republic" the Board of the Central bank of the Azerbaijan Republic DECIDES:

1. Approve "Content, form and procedure for submission of the actuarial conclusion" it (is applied).

2. Charge to Legal department (Rena Melikova) in 3-day time to provide submission of this Resolution to the Ministry of Justice of the Azerbaijan Republic for entering into the State register of legal acts of the Azerbaijan Republic.

Approved by the Resolution of Board of the Central bank of the Azerbaijan Republic of December 27, 2023 No. 63/3

Content, form and procedure for submission of the actuarial conclusion

1. General provisions

This Procedure is developed according to article 81-6.6 of the Law of the Azerbaijan Republic "About insurance activity" (further - the Law) and determines content, form and procedure for submission of the actuarial conclusion.

2. Concepts

2.1. The concepts used for the purposes of this Procedure have the following values:

2.1.1. reporting date - day of the termination of the respective quarter or calendar year;

2.1.2. the accounting period - 12 (twelve) months preceding reporting date;

2.1.3. active types of insurance - types of insurance on which during the accounting period insurance premiums were assessed or are made insurance payments;

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