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Ministry of Justice of Ukraine

July 6, 2018

No. 782/32234

THE ORDER OF THE NATIONAL COMMISSION PERFORMING STATE REGULATION IN THE SPHERE OF THE MARKETS OF FINANCIAL SERVICES OF UKRAINE

of June 7, 2018 No. 850

About approval of the Regulations on obligatory criteria and capital adequacy ratios and solvency, liquidity, profitability, qualities of assets and risk-taking of transactions of the insurer

(The last edition from 03-01-2019)

According to item 4 of part one of article 28 of the Law of Ukraine "About financial services and state regulation of the markets of financial services" and to the subitem 18 of item 4 of the Regulations on the National commission performing state regulation in the sphere of the markets of financial services, No. approved by the Presidential decree of Ukraine of November 23, 2011 1070, the National commission performing state regulation in the sphere of the markets of financial services, POSTANOVILA:

1. Approve Regulations on obligatory criteria and capital adequacy ratios and solvency, liquidity, profitability, qualities of assets and risk-taking of transactions of the insurer (further - the Provision) which is applied.

3. This order becomes effective since June 30, 2018, but not earlier than day of its official publication.

4. To insurers to bring the activities into accord with requirements:

the Section IV, the Section V of the Provision till December 31, 2018;

the Section III of Provisions taking into account that when calculating the standard rate of solvency and capital adequacy in compliance srazdely III Provisions:

from December 31, 2018 to June 29, 2019 inclusive - 30% of size K and 30% of size NZP are applied;

from June 30, 2019 to June 29, 2020 inclusive - 60% of size K and 60% of size NZP are applied;

since June 30, 2020 - sizes K and NZP are applied in full.

From the date of entry into force of this order and till December 30, 2018 inclusive requirements of the Section III of Provisions are applied with the following features:

the standard rate of solvency and capital adequacy is determined as the amount of acceptable assets which for any date shall be at least size of long-term and current obligations and providing which is calculated according to the legislation and is determined as the total size of the Sections II-IV of liability of balance (The report on financial condition) which form and structure of Articles are determined by the National provision (standard) of financial accounting 1 "General requirements to the financial reporting" approved by the order of the Ministry of Finance of Ukraine of February 7, 2013 No. 73, registered in the Ministry of Justice of Ukraine on February 28, 2013 for No. 336/22868, including the size of insurance reserves which is calculated according to the legislation.

Determine that requirements of the subitem 12 of Item 6 of the Section II, the subitem 6 of Item 2 of the Section V of the Provision do not extend to rights to claim against nonresident overcautious persons under agreements of risks reinsurance concerning life insurance contracts with physical persons which essential conditions are risks reinsurance at the nonresident overcautious person which were concluded till January 01, 2005 inclusive and continue to be effective after entry into force of provision.

5. In the markets of financial services together with department of legal providing to submit to department of state regulation and methodology of supervision this order to the Ministry of Justice of Ukraine for state registration.

6. And members of the commission to provide to management of ensuring activities of the Chairman publication of this order after its state registration.

7. Control over the implementation of this order to assign to the member Natskomfinuslug Zaletov E. M.

Commission chairman
I. Pashko

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