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RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of August 27, 2018 No. 191

About approval of the minimum obligatory training program of actuaries, the list and requirements to international associations of actuaries, Requirements to content and procedure for provision of the obligatory actuarial conclusion, Requirements to confirmation of qualification of the actuary, Rules and terms of involvement of the independent actuary for check of activities of the actuary who is on the staff of the insurance (reinsurance) organization, the direction the independent actuary of results of check of reliability of the calculations which are carried out by the actuary who is on the staff of the insurance (reinsurance) organization, Rules of licensing for the right of implementation of actuarial activities in the insurance market, Rules of conducting testing

(as amended on 05-02-2021)

According to the Law of the Republic of Kazakhstan of December 18, 2000 "About insurance activity" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve:

1) the Minimum obligatory training program of actuaries according to appendix 1 to this resolution;

2) the List and requirements to international associations of actuaries according to appendix 2 to this resolution;

3) Requirements to content and procedure for provision of the obligatory actuarial conclusion according to appendix 3 to this resolution;

4) Requirements to confirmation of qualification of the actuary according to appendix 4 to this resolution;

5) Rules and terms of involvement of the independent actuary for check of activities of the actuary who is on the staff of the insurance (reinsurance) organization, the direction the independent actuary of results of check of reliability of the calculations which are carried out by the actuary who is on the staff of the insurance (reinsurance) organization according to appendix 5 to this resolution;

6) Rules of licensing for the right of implementation of actuarial activities in the insurance market according to appendix 6 to this resolution;

7) Rules of conducting testing according to appendix 7 to this resolution.

2. Recognize invalid:

1) the resolution of Board of National Bank of the Republic of Kazakhstan of July 16, 2014 No. 151 "About approval of Rules of implementation of actuarial activities, licensing for the right of implementation of actuarial activities, passing qualification examination by the actuary, involvement of the independent actuary for check of activities of the actuary, the direction by the independent actuary of results of check of reliability of the calculations which are carried out by the actuary who is on the staff of the insurance (reinsurance) organization" (it is registered in the Register of state registration of regulatory legal acts at No. 9718, it is published on October 3, 2014 in information system of law of Ad_let);

2) Item 15 of the List of regulatory legal acts of the Republic of Kazakhstan concerning optimization and automation of business processes of the state services rendered by National Bank of the Republic of Kazakhstan to which changes and additions are made the Board of National Bank of the Republic of Kazakhstan approved by the resolution of December 24, 2014 No. 261 "About modification and amendments in some regulatory legal acts of the Republic of Kazakhstan concerning optimization and automation business - processes of the state services rendered by National Bank of the Republic of Kazakhstan" (it is registered in the Register of state registration of regulatory legal acts at No. 10211, it is published on February 26, 2015 in information system of law of Ad_let).

3. To department of regulation of the non-bank financial organizations (Kosherbayeva A. M.) in the procedure established by the legislation of the Republic of Kazakhstan to provide:

1) together with Legal department (Sarsenov N. V.) state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) within ten calendar days from the date of state registration of this resolution its direction 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) placement of this resolution on official Internet resource of National Bank of the Republic of Kazakhstan after its official publication;

4) within ten working days after state registration of this resolution submission to Legal department of data on execution of the actions provided by subitems 2), 3) of this Item and item 4 of this resolution.

4. To management on consumer protection of financial services and external communications (Terentyev A. L.) provide within ten calendar days after state registration of this resolution the direction it to the copy on official publication in periodic printing editions.

5. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Kurmanov Zh. B.

6. This resolution becomes effective after twenty one calendar days after day of its first official publication.

Chairman of National Bank

D. Akishev

It is approved

Ministry of information and communications of the Republic of Kazakhstan

October 23, 2018

 

_______________ D. Abayev

It is approved

Ministry of national economy of the Republic of Kazakhstan

October 24, 2018

 

_______________ T. Suleymenov

Appendix 1

to the Resolution of Board of National Bank of the Republic of Kazakhstan of August 27, 2018 No. 191

Minimum obligatory training program of actuaries

1. The minimum obligatory training program of actuaries consists of six following subjects:

Subject 1. The theory of rate of interest and accidental processes in life insurance:

bases of simple and compound interests;

principles of creation of annuities;

loans and schedules of their repayments;

debt securities;

tables of life expectancy;

annuities on life insurance;

theory of life insurance of several persons;

pensions.

Subject 2. Actuarial principles and their appendices:

life insurance and health of one person;

group life insurance and health;

disability insurance;

general insurance;

reinsurance;

pension;

social insurance;

investments.

Subject 3. General insurance and reinsurance:

principles of general insurance;

creation of insurance products;

underwriting;

pricing in insurance;

insurance reserves;

benefit functions;

theory of reliability;

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