It is registered
Ministry of Justice
On December 29, 2016 No. 45055
of November 16, 2016 No. 557-P
About rules of forming of insurance reserves on life insurance
Based on Item 2 of article 26 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. 4001; No. 29, Art. 4357, Art. 4385; No. 48, Art. 6715; 2016, No. 22, Art. 3094; No. 26, Art. 3863, Art. 3891; No. 27, the Art. 4225, the Art. 4294, 4296) this Provision approves by the Art. the rules of forming of insurance reserves on life insurance establishing types of insurance reserves, obligation and conditions of their forming; methods of calculation of insurance reserves; requirements to regulations on forming of insurance reserves; requirements to the documents containing the data necessary for calculation of insurance reserves and storage durations of such documents; methodical ensuring calculation of share of overcautious persons in insurance reserves; procedure for coordination with the Bank of Russia of methods of calculation of insurance reserves which differ from the methods provided by this Provision (including terms and conditions of such coordination and the basis for refusal in such coordination).
1.1. Action of this provision does not extend to societies of mutual insurance.
1.2. Insurers develop and approve the regulations on forming of insurance reserves containing procedure for forming of insurance reserves proceeding from requirements of this provision.
1.3. Calculation of insurance reserves is perfromed based on accounting data and the reporting of the insurer and data containing in the magazine specified in Item 5.2 of this provision.
1.4. Calculation of insurance reserves is perfromed in rubles.
Insurance reserves according to life insurance contracts which according to the foreign exchange legislation of the Russian Federation consist in foreign currency (insurance premiums (fees) are paid in foreign currency, and insurance payments are performed in foreign currency), can be calculated in the corresponding foreign currency and are converted into rubles on the official rate of the Bank of Russia established for calculating date.
Insurance reserves according to life insurance contracts in which execution of monetary commitments is provided in rubles in the amount equivalent to certain amount in foreign currency (insurance premiums (fees) are paid in rubles in the amount equivalent to certain amount in foreign currency, and insurance payments are performed in rubles in the amount equivalent to certain amount in foreign currency), can be calculated in the corresponding foreign currency and are converted into rubles on the official rate of the Bank of Russia established for calculating date.
If for recalculation of the specified monetary commitments the legislation of the Russian Federation or the agreement establish other rate, recalculation is performed on such rate.
1.5. For the purpose of this provision when calculating insurance reserves date for which calculation of insurance reserves is perfromed is calculating date, settlement period is the period from January 1 on calculating date as of which calculation of size of insurance reserves is perfromed.
2.1. The insurer creates the following types of insurance reserves:
reserve of maintenance expenses of insurance bonds;
reserve of payments for the declared, but not settled insured events;
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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