Document from CIS Legislation database © 2003-2018 SojuzPravoInform LLC

It is registered

Ministry of Justice

Russian Federation

On September 24, 2018 No. 52233

INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of September 3, 2018 No. 4896-U

About technique of determination of size of own means (capital) of the insurer (except for societies of mutual insurance)

This Instruction based on Item 2 of article 25 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; 1999, No. 47, Art. 5622; 2002, No. 12, Art. 1093; No. 18, Art. 1721; 2003, No. 50, Art. 4855, Art. 4858; 2004, No. 30, Art. 3085; 2005, No. 10, Art. 760; No. 30, Art. 3101, Art. 3115; 2007, No. 22, Art. 2563; No. 46, Art. 5552; No. 49, Art. 6048; 2009, No. 44, Art. 5172; 2010, No. 17, Art. 1988; No. 31, Art. 4195; No. 49, Art. 6409; 2011, No. 30, Art. 4584; No. 49, Art. 7040; 2012, No. 53, Art. 7592; 2013, No. 26, Art. 3207; No. 30, Art. 4067; No. 52, Art. 6975; 2014, No. 23, Art. 2934; No. 30, Art. 4224; No. 45, Art. 6154; 2015, No. 10, Art. 1409; No. 27, Art. 3946, Art. 4001; No. 29, Art. 4357, Art. 4385; No. 48, Art. 6715; 2016, №1, of Art. 52; No. 22, Art. 3094; No. 26, Art. 3863, Art. 3891; No. 27, Art. 4225, Art. 4294, Art. 4296; 2017, No. 31, Art. 4754, Art. 4830; 2018, No. 1, Art. 66; No. 18, Art. 2557; No. 32, of the Art. 5113) (further - the Law of the Russian Federation "About the organization of insurance case in the Russian Federation") establishes technique of determination of size of own means (capital) of the insurer (except for societies of mutual insurance).

1. The size of own means (capital) of the insurer is determined as the amount of the measure values listed in Item 3 presents of the Instruction, which is consistently reduced by measure values, listed in item 4 of this Instruction.

2. Measure values, listed in Items 3 and 4 of this Instruction, are determined for settlement date based on accounting data of the insurer performed according to the Provision of the Bank of Russia of September 2, 2015 No. 486-P "About the Chart of accounts of financial accounting in not credit financial credit institutions and procedure for its application", the registered Ministry of Justice of the Russian Federation on October 7, 2015 No. 39197, on December 28, 2016 No. 45012, on December 15, 2017 No. 49269, and with accounting policy of the insurer, the accounting (financial) records of the insurer constituted according to the Provision of the Bank of Russia of December 28, 2015 No. 526-P "Industry standard of the financial accounting "Procedure for Creation of Accounting (Financial) Records of Insurance Companies and Societies of Mutual Insurance" the registered Ministry of Justice of the Russian Federation on January 28, 2016 No. 40869, on December 15, 2016 No. 44748, on July 27, 2017 No. 47550, on September 7, 2017 No. 48108.

3. The size of own means (capital) of the insurer joins values of the following indicators.

3.1. Authorized capital.

3.2. Added capital.

3.3. Reserve capital.

3.4. Retained earnings of accounting year and last years.

3.5. The residual cost of the subordinated loans obtained by insurance company taking into account requirements, stipulated in Item 4.3 articles 25 of the Law of the Russian Federation "About the organization of insurance case in the Russian Federation", calculated according to subitems 3.5.1 and 3.5.2 of this Item.

3.5.1. Residual cost of separate subordinated loan is determined by formula:

 

Формула 3-5-1 к Указанию ЦБ РФ от 03.09.2018 г. №4896-У

where:

About - residual cost of subordinated loan for settlement date;

Д - all-in cost of subordinated loan;

With - the parameter accepting one of the following values:

With = 0 during the first quarter from the date of attraction of subordinated loan;

With = 20 after the first quarter during the second and the next quarters from the date of attraction of subordinated loan provided that before repayment date of subordinated loan there are more than 20 complete quarters;

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