ORDER OF THE CHAIRMAN OF COMMITTEE ACCORDING TO THE STATISTICS MINISTRIES OF NATIONAL ECONOMY OF THE REPUBLIC OF KAZAKHSTAN

of August 4, 2017 No. 114

About approval of the Technique of accounting of services of insurance

According to the subitem 5) of article 12 of the Law of the Republic of Kazakhstan of March 19, 2010 "About the state statistics" and the subitem 258) of Item 17 of the Regulations on the Ministry of national economy of the Republic of Kazakhstan approved by the order of the Government of the Republic of Kazakhstan of September 24, 2014 No. 1011, I ORDER:

1. Approve the enclosed Technique of accounting of services of insurance.

2. According to the statistics to provide the Ministries of national economy of the Republic of Kazakhstan to management of national accounts together with Legal management of Committee in the procedure established by the legislation:

1) state registration of this order in the Ministry of Justice of the Republic of Kazakhstan;

2) within ten calendar days from the date of state registration of this order the direction it the copy in paper and electronic type in the Kazakh and Russian languages in the Republican state company on the right of economic maintaining "The republican center of legal information" for official publication and inclusion in Reference control bank of regulatory legal acts of the Republic of Kazakhstan;

3) within ten calendar days after state registration of this order the direction it the copy on official publication in periodic printing editions;

4) placement of this order on Internet resource of Committee according to the statistics the Ministries of national economy of the Republic of Kazakhstan.

3. To impose control of execution of this order on the supervising vice-chairman of Committee according to the statistics the Ministries of national economy of the Republic of Kazakhstan (Kerimkhanov G. M.

4. This order becomes effective after ten calendar days after day of its first official publication.

Approved by the Order of the Chairman of Committee according to the statistics of the Ministry of national economy of the Republic of Kazakhstan of August 4, 2017 No. 114

Technique of accounting of services of insurance

Chapter 1. General provisions

1. The technique of accounting of services of insurance (further - the Technique) belongs to the statistical methodology created in compliance with international standards and approved according to the Law of the Republic of Kazakhstan of March 19, 2010 "About the state statistics".

2. This Technique is held for use Committee according to the statistics of the Ministry of national economy of the Republic of Kazakhstan when forming services of insurance according to international standards and is applied to the purposes of the National account system.

3. The purpose of this Technique is enhancement of calculations of services of insurance according to market situation, the last achievements of methodological researches.

4. In this Technique the following determinations are used:

1) border of the sphere of production - the activities performed under control and responsibility of institutional unit which uses costs of work, the capital and goods and services for production of other goods and services;

2) insurance premium - the insurance premium according to the insurance contract (reinsurance) recognized in financial accounting as the income.

Chapter 2. Accounting of services of insurance

5. The insurance activity of insurance company is performed on industry "life insurance" and industries "general insurance":

1) When forming release of services of "general insurance" calculation is performed as follows:

the earned insurance premiums;

plus amendments to awards;

minus the corrected insurance indemnities which are subject to payment.

2) Life insurance represents set of the types of insurance providing implementation of insurance payment in cases of death insured or survival by it before the termination of term of insurance or the age determined by the insurance contract.

When forming release of the services "life insurances" calculation is performed as follows:

the earned insurance premiums;

plus amendments to awards;

minus insurance payments on which term came;

minus increase (plus reduction) technical reserves on life insurance.

6. As data source when calculating release and intermediate consumption of services of insurance administrative data from administrative sources are used.

7. Release represents the total cost of the goods and services made in economy in the accounting period.

Release of services of insurance is based on financial result of insurance companies. The financial result from insurance transactions is determined as difference between the income and expenses of insurance companies.

8. Intermediate consumption is equal to the cost of goods and services which are transformed or are completely consumed in production process in the accounting period.

9. Release of the services "life insurances" are expenses of households on final consumption.

10. Release of services of risks insurance is calculated as follows:

release of services of "general insurance";

minus release of the services "life insurances".

In case of determination of consumers of this service and their further reflection in accounts release of services of risks insurance is distributed according to structure of net insurance premiums on physical persons and legal entities (by types of economic activity).

11. The release of services of risks insurance consumed by legal entities is intermediate consumption, and physical persons - expenses of households on final consumption, except for insurance of the real estate. The housing services made by owners of dwellings for own consumption are included into borders of the sphere of production of national account system. Release of services of insurance of the real estate is intermediate consumption of households which does not join in expenses on final consumption.

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