RESOLUTION NATIONAL COMMISSION ON THE FINANCIAL MARKET OF THE REPUBLIC OF MOLDOVA

of March 24, 2020 No. 13/2

About some measures for support of the sphere of insurance

In view of the measures containing in the Resolution of Parliament No. 55 of 17.03.2020 about the announcement of emergency state (The official monitor of the Republic of Moldova, 2020, No. 86, of the Art. 96), being guided by part (1) Articles 1, Article 3, part (1) and part (2) Articles 4, Item b) and Item t) Articles 8, part (1) Article 20 and article 22 of the Law on the National commission on the financial market No. 192/1998 (repeated publication: The official monitor of the Republic of Moldova, 2007, No. 117-126 BIS), Regulations about the organization and functioning of NKFR (The resolution NKFR No. 49/16/2018; Official monitor of the Republic of Moldova, 2018, No. 430-439, Art. 1694), National commission on the DECIDES: financial market

1. In departure from provisions of requirements of the Regulations on margins of solvency and liquidity rate of the insurer (overcautious person) approved by the Resolution NKFR No. 2/1/2011 (The official monitor of the Republic of Moldova, 2011, No. 59-62, the Art. 310), registered in the Ministry of Justice at No. 812 of 8:04. 2011, during the period till 1:07. 2020, insurers (overcautious persons) will accept in covering and in representation of technical reserves and one second minimum margins of solvency of the insurer (overcautious person) the assets specified in the established this provision.

2. In departure from subitem provisions 6) and the subitem 9) Item 18 of the above-stated provision, during the period till 1:07. 2020, in case of placement of the assets accepted in covering of technical reserves and the minimum margin of solvency, the insurer (overcautious person) shall respect the following rules of distribution of placements for the following categories of assets:

- the cash liquidity on settlement current accounts in the financial institutions licensed by National Bank of Moldova including in foreign currency, can represent no more than 20% of the total size of technical reserves, except for the overcautious person's shares in technical reserves, and one second minimum margins of solvency;

- receivables on the added awards provided that the term of their prescription does not exceed 90 days from the repayment date provided by the insurance contract can represent no more than 3% in case of the same debtor and no more than 25% generally of the total size of technical reserves, except for the overcautious person's shares in technical reserves, and one second minimum margins of solvency.

3. This resolution becomes effective from the date of publication in the Official monitor of the Republic of Moldova and is published on the NKFR (www.cnpf.md) official web page.

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