RESOLUTION OF THE NATIONAL COMMISSION ON THE FINANCIAL MARKET OF THE REPUBLIC OF MOLDOVA

of September 28, 2012 No. 38/11

About modification and amendments in the Regulations on margins of solvency and liquidity rate of the insurer (overcautious person) approved by the Resolution of the National commission on the financial market No. 2/1 of January 21, 2011

Based on provisions of Art. 34 of the h. (10) the Law No. 407-XVI of December 21, 2006 "About insurance" (The official monitor of the Republic of Moldova, 2007, No. 47-49, the Art. 213), with subsequent changes and amendments the National commission on the DECIDES: financial market

In the Regulations on margins of solvency and liquidity rate of the insurer (overcautious person) approved by the Resolution of the National commission on the financial market No. 2/1 of January 21, 2011 (Official monitor of the Republic of Moldova, 2011, No. 59-62, the Art. 310) registered in the Ministry of Justice No. 812 of April 8, 2011 with subsequent changes and amendments, to make the following changes and additions:

1. In Item 2:

Shall be replaced with words 1) in the concept "funds of insurers" of the word "increased by the size" "and one third of the size";

Shall be replaced with words 2) in the concept "free (actual) margin of solvency" of the word of "own funds" "equity";

3) in the concept "minimum margin of solvency" of the word "own funds which" shall be replaced with words of "equity which", and shall be replaced with words the words "it is considered insolvent" "has no the guaranteed financial stability, and accomplishment of undertaken obligations before insurers (reinsurers) is in danger";

2. In subitems 3), of item 4 and in the subitem 8) of Item 16 after the word of "days" to add 4) and 5) with the words "from the moment of repayment";

3. Change and state Item 11 in the following edition:

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