RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN
of November 28, 2019 No. 223
About approval of the list, forms, terms of submission of the reporting on accomplishment of prudential standard rates by the insurance (reinsurance) organization, insurance group and the Islamic insurance (reinsurance) organization and Rules of its representation
According to the laws of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan", of December 18, 2000 "About insurance activity" and of March 19, 2010 "About the state statistics" the Board of National Bank of the Republic of Kazakhstan DECIDES:
1. Approve:
1) the list of the reporting on accomplishment of prudential standard rates by the insurance (reinsurance) organization, insurance group and the Islamic insurance (reinsurance) organization according to appendix 1 to this resolution;
2) report form about accomplishment of prudential standard rates by the insurance (reinsurance) organization according to appendix 2 to this resolution;
3) report form about calculation of reserve of unforeseen risks the insurance (reinsurance) organization according to appendix 3 to this resolution;
4) report form about calculation of stabilization reserve the insurance (reinsurance) organization according to appendix 4 to this resolution;
5) report form about accomplishment of the standard rate of sufficiency of margin of solvency of insurance group according to appendix 5 to this resolution;
6) report form about accomplishment of prudential standard rates by the Islamic insurance (reinsurance) organization according to appendix 6 to this resolution;
7) report form about calculation of reserve of unforeseen risks the Islamic insurance (reinsurance) organization according to appendix 7 to this resolution;
8) report form about calculation of stabilization reserve the Islamic insurance (reinsurance) organization according to appendix 8 to this resolution;
9) Rules of submission of the reporting on accomplishment of prudential standard rates by the insurance (reinsurance) organization, insurance group and the Islamic insurance (reinsurance) organization, according to appendix 9 to this resolution.
2. The report on accomplishment of the standard rate of sufficiency of margin of solvency of insurance group includes form according to appendix 5 to this resolution, and also calculations of the minimum size of margin of solvency (equity) for members of insurance group according to the Table of the assets of bank weighed on degree of credit risk of investments, according to appendix 5 and the Table of the contingent and possible obligations of bank weighed on degree of credit risk, according to appendix 6 to the Normative values and techniques of calculations of prudential standard rates and other regulations, obligatory to observance, and limits of the size of the capital of bank for certain date approved by the resolution of Board of National Bank of the Republic of Kazakhstan of September 13, 2017 No. 170, registered in the Register of state registration of regulatory legal acts at No. 15886.
3. The insurance (reinsurance) organizations represent to National Bank of the Republic of Kazakhstan in electronic format:
1) monthly no later than 6 (sixth) working days of the month following month under report, the reporting according to appendix 2 to this resolution;
2) quarterly no later than 6 (sixth) working days of the month following reporting quarter, the reporting according to appendix 3 to this resolution;
3) annually to 10 on the (tenth) of February the year following after accounting year, the reporting according to appendix 4 to this resolution.
The parent organization of insurance group represents to National Bank of the Republic of Kazakhstan in electronic format the reporting according to appendix 5 to this resolution:
quarterly, no later than 1 (first) day of the second month following reporting quarter;
for the fourth quarter of the expired year, not later 1 on the (first) of April the year following reporting quarter.
The Islamic insurance (reinsurance) organizations represent to National Bank of the Republic of Kazakhstan in electronic format:
1) monthly no later than 6 (sixth) working days of the month following month under report, the reporting according to appendix 6 to this resolution;
2) quarterly no later than 6 (sixth) working days of the month following reporting quarter, the reporting according to appendix 7 to this resolution;
3) annually to 10 on the (tenth) of February the year following after accounting year, the reporting according to appendix 8 to this resolution.
4. To provide to department of statistics of the financial market in the procedure established by the legislation of the Republic of Kazakhstan:
1) together with Legal department state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;
2) placement of this resolution on official Internet resource of National Bank of the Republic of Kazakhstan after its official publication;
3) within ten working days after state registration of this resolution submission to Legal department of data on execution of the actions provided by the subitem 2) of this Item and Item 5 of this resolution.
5. To department of external communications - the press service of National Bank to provide within ten calendar days after state registration of this resolution the direction it to the copy on official publication in periodic printing editions.
6. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Abylkasymova M. E.
7. This resolution becomes effective since January 1, 2020 and is subject to official publication.
Chairman of National Bank
E.Dosayev
|
It is approved Committee according to the statistics Ministries of national economy of the Republic of Kazakhstan "___" _____________ 2019 |
|
Appendix 1
to the Resolution of Board of National Bank of the Republic of Kazakhstan of November 28, 2019 No. 223
List of the reporting on accomplishment of prudential standard rates by the insurance (reinsurance) organization, insurance group and Islamic insurance (reinsurance) organization
The list of the reporting on accomplishment of prudential standard rates by the insurance (reinsurance) organization, insurance group and the Islamic insurance (reinsurance) organization includes:
1) report on accomplishment of prudential standard rates by the insurance (reinsurance) organization;
2) report on calculation of reserve of unforeseen risks insurance (reinsurance) organization;
3) report on calculation of stabilization reserve insurance (reinsurance) organization;
4) report on accomplishment of the standard rate of sufficiency of margin of solvency of insurance group.
5) report on accomplishment of prudential standard rates by the Islamic insurance (reinsurance) organization;
6) report on calculation of reserve of unforeseen risks Islamic insurance (reinsurance) organization;
7) report on calculation of stabilization reserve Islamic insurance (reinsurance) organization.
Appendix 2
to the Resolution of Board of National Bank of the Republic of Kazakhstan of November 28, 2019 No. 223
The form intended for collection of administrative data
It is represented: in National Bank of the Republic of Kazakhstan
The form intended for collection of administrative data on a grant basis is placed on Internet resource: www.nationalbank.kz
Report on accomplishment of prudential standard rates by the insurance (reinsurance) organization
Index of the form intended for collection of administrative data on a grant basis: 2 – PN_M
Frequency: monthly
Accounting period: as of "____" ____________ 20 ___ years
The group of people, representing the form intended for collection of administrative data on a grant basis: insurance (reinsurance) organization
The term of representation of the form intended for collection of administrative data on a grant basis: monthly no later than 6 (sixth) working days of the month following month under report
BIN: _______________________
Collection method: in electronic form
Table 1. Data on accomplishment of prudential standard rates by the insurance (reinsurance) organization
|
№ |
Name of the standard rate |
Measure value |
|
1 |
2 |
3 |
|
1 |
Standard rate of sufficiency of margin of solvency (1.1/1.2) |
|
|
1.1 |
Actual margin of solvency (1.3 + 1.4 or 1.8 smallest size) (in thousands of tenges) |
|
|
1.2 |
The minimum size of margin of solvency ("400") (in thousands of tenges) |
|
|
1.3 |
Intermediate result of calculation of actual margin of solvency ("100") (in thousands of tenges) |
|
|
1.4 |
The amount included in calculation of actual margin of solvency ("200") (in thousands of tenges) |
|
|
1.5 |
Total assets taking into account their classification by quality and liquidity ("12000") (in thousands of tenges) |
|
|
1.6 |
Insurance reserves minus share of the overcautious person ("13000") (in thousands of tenges) |
|
|
1.7 |
Obligations, except for the amounts of insurance reserves ("14000") (in thousands of tenges) |
|
|
1.8 |
The actual margin of solvency calculated taking into account classification of assets by quality and liquidity (1.5 – 1.6 – 1.7) (in thousands of tenges) |
|
|
2 |
Total book value of investments into securities (taking into account transactions "the return repo") which deposits and money in one bank of the second level having long-term credit rating are not lower than "VV-" on the international scale of the Standard & Poor agency "s (Standard and Purs) or the rating of similar level of one of other rating agencies, or ND1-1) which is affiliated resident bank of the Republic of Kazakhstan which parent nonresident bank of the Republic of Kazakhstan has long-term credit rating in foreign currency not below "And -" the Standard & Poor agencies "of s (Standard and Purs) or the rating of similar level of one of other rating agencies, and affiliates of this bank, Development bank of Kazakhstan and its affiliates (the standard rate of asset diversification (further – ND), the Normative values and techniques of calculations of prudential standard rates of the insurance (reinsurance) organization and insurance group and other regulations, obligatory to observance, conforming to requirements of the subitem 1) of Item 42 and limits set by the resolution of Board of National Bank of the Republic of Kazakhstan of December 26, 2016 No. 304 "About establishment of normative values and techniques of calculations of prudential standard rates of the insurance (reinsurance) organization and insurance group and other regulations and limits, requirements, obligatory to observance, to the shares acquired by the insurance (reinsurance) organizations, the affiliated organizations of the insurance (reinsurance) organizations or insurance holdings (to shares in the authorized capital) legal entities, the list of bonds of the international financial institutions acquired by insurance holdings, the minimum required rating for the bonds acquired by insurance holdings and the list of rating agencies and also the list of the financial instruments (except for shares and shares in the authorized capital) acquired by the insurance (reinsurance) organizations" (it is registered in the Register of state registration of regulatory legal acts at No. 14794) (further – Standard rates): since January 1, 2023 – no more than 30 (thirty) percent from the amount of the general insurance reserves calculated according to the Requirements to forming, method of calculation of insurance reserves and their structure approved by the resolution of Board of National Bank of the Republic of Kazakhstan of January 31, 2019 No. 13 (it is registered in the Register of state registration of regulatory legal acts at No. 18290) (further – Requirements to forming, method of calculation of insurance reserves and their structure); since January 1, 2024 – no more than 20 (twenty) percent from the amount of the general insurance reserves calculated according to Requirements to forming, method of calculation of insurance reserves and their structure. |
|
|
3 |
Total book value of investments into securities (taking into account transactions "the return repo"), deposits and money in one bank of the second level having long-term credit rating from "In" to "In +" on the international scale of the Standard & Poor agency "s (Standard and Purs) or the rating of similar level of one of other rating agencies, and affiliates of this bank (ND1-2), Standard rates conforming to requirements of the subitem 2) of Item 42: since January 1, 2023 – no more than 20 (twenty) percent from the amount of the general insurance reserves calculated according to Requirements to forming, method of calculation of insurance reserves and their structure; since January 1, 2024 – no more than 15 (fifteen) percent from the amount of the general insurance reserves calculated according to Requirements to forming, method of calculation of insurance reserves and their structure. |
|
|
4 |
Total book value of investments into securities (taking into account transactions "the return repo"), deposits and money in one bank of the second level having long-term credit rating "In -" on the international scale of the Standard & Poor agency "s (Standard and Purs) or the rating of similar level of one of other rating agencies, and affiliates of this bank (ND1-3), Standard rates conforming to requirements of the subitem 3) of Item 42: since January 1, 2023 – no more than 20 (twenty) percent from the amount of the general insurance reserves calculated according to Requirements to forming, method of calculation of insurance reserves and their structure; since January 1, 2024 – no more than 10 (ten) percent from the amount of the general insurance reserves calculated according to Requirements to forming, method of calculation of insurance reserves and their structure. |
|
|
5 |
Total book value of investments into securities (taking into account transactions "the return repo") and money in one legal entity, not being bank of the second level, except for Development bank of Kazakhstan, and affiliates of this legal entity (ND2): since January 1, 2023 – no more than 20 (twenty) percent from the amount of the general insurance reserves calculated according to Requirements to forming, method of calculation of insurance reserves and their structure; since January 1, 2024 – no more than 10 (ten) percent from the amount of the general insurance reserves calculated according to Requirements to forming, method of calculation of insurance reserves and their structure. |
|
|
6 |
Total book value of investments into securities (taking into account transactions "the return repo") and money in one legal entity who is entering the list of the national companies approved by the Order of the Government of the Republic of Kazakhstan of April 6, 2011 No. 376 "About approval of the list of national managing holdings, national holdings, national companies" and having long-term credit rating is not lower than "BBB-" on the international scale of Standard & Poor rating agency "s (Standard and Purs) or the rating of similar level of one of other rating agencies, and affiliates of this legal entity (ND3) – no more than 20 (twenty) percent from the amount of the general insurance reserves calculated according to Requirements to forming, method of calculation of insurance reserves and their structure. |
|
|
7 |
Total placement in the affined precious metals and metal accounts (ND4) – no more than 10 (ten) percent from the amount of the general insurance reserves calculated according to Requirements to forming, method of calculation of insurance reserves and their structure. |
|
|
8 |
The total size of loans to insurers of the insurance (reinsurance) organization performing activities for industry "life insurance" (ND5) – no more than 10 (ten) percent from the amount of the general insurance reserves calculated according to Requirements to forming, method of calculation of insurance reserves and their structure. |
|
|
9 |
Total book value of investments into the securities (taking into account transactions "the return repo") having the status state, issued by the central government of the foreign state having rating is not lower than "A-" on the international scale of rating agency Standard and Purs (Standard & Poor "s) or the rating of similar level of one of other rating agencies, (ND6) – no more than 10 (ten) percent from the amount of the general insurance reserves calculated according to Requirements to forming, method of calculation of insurance reserves and their structure |
|
|
10 |
Total book value of investments into the securities (taking into account transactions "the return repo") having the status state, issued by the central government of the foreign state having rating is lower than "A-" on the international scale of rating agency Standard and Purs (Standard & Poor "s) or the rating of similar level of one of other rating agencies, (ND6-1) - no more than 5 (five) percent from the amount of the general insurance reserves calculated according to Requirements to forming, method of calculation of insurance reserves and their structure |
|
|
11 |
Total book value of investments into securities (taking into account transactions "the return repo") international financial institution which is included into the list, stipulated in Item 39 Standard rates (ND7) – no more than 20 (twenty) percent from the amount of the general insurance reserves calculated according to Requirements to forming, method of calculation of insurance reserves and their structure. |
|
|
12 |
Total book value of investments into the shares conforming to requirements of subitems 23) and 24) of Item 38 of Standard rates less reserve under impairment (ND8) – no more than 10 (ten) percent from the amount of the general insurance reserves calculated according to Requirements to forming, method of calculation of insurance reserves and their structure. |
|
|
13 |
Total book value of investments into shares of open and interval mutual investment funds, less reserve under impairment (ND8-1) – no more than 10 (ten) percent from the amount of the general insurance reserves calculated according to Requirements to forming, method of calculation of insurance reserves and their structure. |
|
|
14 |
Total book value of investments into the debt securities issued by local executive bodies of the Republic of Kazakhstan taking into account the amounts of principal debt and the added remuneration, less reserve under impairment (ND9) – no more than 10 (ten) percent from the amount of the general insurance reserves calculated according to Requirements to forming, method of calculation of insurance reserves and their structure. |
|
|
15 |
Total book value of investments into the instruments of Islamic financing conforming to requirements of subitems 25) and 26) of Item 38 of Standard rates less reserve under impairment (ND10) – no more than 10 (ten) percent from the amount of the general insurance reserves calculated according to Requirements to forming, method of calculation of insurance reserves and their structure. |
|
|
16 |
Information on accomplishment of the standard rate of sufficiency of highly liquid assets ("Yes" or "No") |
|
|
17 |
Information on accomplishment of the amount of own deduction of the insurance (reinsurance) organization on the agreement (agreements) of insurance, reinsurance, joint insurance (joint reinsurance) ("Yes" or "No") |
Table 2. Amount of increase in the minimum size of margin of solvency of the insurance (reinsurance) organization
(in thousands of tenges)
|
Name of the reinsurance organization |
Rating the overcautious person's assessment on the international or national scale (the standard rate of sufficiency of margin of solvency) |
The amount of the insurance premiums transferred (transferred) to reinsurance according to current agreements of reinsurance, all (in thousands of tenges) |
Percent from the amount of the insurance premiums transferred (transferred) to reinsurance according to current agreements of reinsurance |
Amount of increase in the minimum size of margin of solvency (column 3 x column 4) |
|
1 |
2 |
3 |
4 |
5 |
|
The contracts of reinsurance signed with nonresident overcautious persons of the Republic of Kazakhstan, except for overcautious persons of member countries of the Agreement on the Eurasian Economic Union ratified by the Law of the Republic of Kazakhstan "About ratification of the Agreement on the Eurasian Economic Union" (further – the Agreement on EEU) | ||||
|
Group 1 |
"AA-" or above |
0% |
||
|
Group 2 |
with "And +" on "And -" |
0% |
||
|
Group 3 |
with "BBB+" on "VVV-" |
% 0,2 |
||
|
Group 4 |
with "BB+" on "VV-" |
% 0,75 |
||
|
Group 5 |
with "In +" on "In -" |
% 3,8 |
||
|
Group 6 |
below "In -" or is absent |
22% |
||
|
The contracts of reinsurance signed with resident overcautious persons of the Republic of Kazakhstan | ||||
|
Group 7 |
not lower "In" or "kzBB" |
0% |
||
|
Group 8 |
"In -", "kzBB-", "kzB+" |
% 0,2 |
||
|
Group 9 |
> 1,75 |
% 0,05 |
||
|
Group 10 |
> 1,5 |
% 0,1 |
||
|
Group 11 |
> 1,25 |
% 0,2 |
||
|
Group 12 |
> 1,1 |
% 0,5 |
||
|
Group 13 |
|
% 3,8 |
||
|
Group 14 |
<1,0 |
5% |
||
|
The agreements of reinsurance signed from overcautious persons-countries-participating Agreements on EEU | ||||
|
Group 15 |
with "BBB+" on "VVV-" |
0% |
||
|
Group 16 |
with "BB+" on "VV-" |
% 0,2 |
||
|
Group 17 |
with "In +" on "In -" |
% 0,5 |
||
|
Group 18 |
below "In -" or is absent |
22% |
||
|
The contracts of reinsurance signed within participation in the insurance (reinsurance) pool formed at least than three insurance nonresident organizations of the Republic of Kazakhstan registered in the different states (countries) | ||||
|
Group 19 |
with "BBB+" on "VVV-" |
0% |
||
|
Group 20 |
with "BB+" on "VV-" |
% 0,2 |
||
|
Group 21 |
with "In +" on "In -" |
% 0,5 |
||
|
Group 22 |
below "In -" or is absent |
22% |
||
|
The contracts of reinsurance signed with participating overcautious persons of the International financial center "Astana" | ||||
|
Group 23 |
not lower "In" or "kzBB" |
0% |
||
|
Group 24 |
"In -", "kzBB-", "kzB +" |
% 0,2 |
||
|
Group 25 |
below "In -", "kzBB-", "kzB +" or is absent |
5% |
||
|
Total: |
hkhkh |
hkhkh |
||
1,0Table 3. Calculation of the minimum size of margin of solvency for the insurance (reinsurance) organization performing insurance activity on industry "general insurance" and the reinsurance organization performing reinsurance as exclusive type of activity
(in thousands of tenges)
|
Name of indicator |
Code of line |
Amount | |
|
1 |
2 |
3 | |
|
Calculation of the minimum size of margin of solvency with use of "method of awards" | |||
|
The insurance premiums accepted according to insurance contracts and reinsurance for the previous financial year, all (according to subitems 1) and 2) Item 12 of Standard rates) |
1110 |
||
|
Expense amount on payment of commission fee for insurance activity for the previous financial year |
1120 |
||
|
The amount of the corporate income tax for the previous financial year |
1130 |
||
|
The modified insurance premiums accepted according to insurance contracts and reinsurance for the previous financial year ("1110" – "1120" – "1130") |
1100 |
||
|
The earned insurance premiums according to insurance contracts and reinsurance for the previous financial year, all (according to subitems 1) and 2) Item 12 of Standard rates) |
1210 |
||
|
The earned insurance premiums modified cumulative for the previous financial year ("1210" – "1120" – "1130") |
1200 |
||
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