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Ministry of Justice

Russian Federation

On April 23, 2020 No. 58186

PROVISION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of January 10, 2020 No. 710-P

About separate requirements to financial stability and solvency of insurers

(as amended of the Instruction of the Central bank of the Russian Federation of 06.04.2021 No. 5771-U)

This Provision based on Items 2, 4.1, 4.2 of Article 25 and Item 5 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; 2018, No. 18, Art. 2557; 2019, No. 18, the Art. 2212) (further - the Law of the Russian Federation "About the organization of insurance case in the Russian Federation"), article 20 of the Federal Law of November 29, 2007 No. 286-FZ "About mutual insurance" (The Russian Federation Code, 2007, No. 49, Art. 6047; No. 30, the Art. 4084) for the purpose of regulation of single questions of financial stability and solvency of insurers establishes 2013,:

technique of determination of size of own means (capital) of insurance company;

the list of the assets of insurance company, the requirement to such assets permitted for investment, and also the procedure for investment of own means (capital) providing including requirements to structure of assets in which placement of own means (capital) of insurance company or their part is allowed;

the list of the assets of the insurer, the requirement to such assets permitted for investment, and also the procedure for investment of means of insurance reserves providing including requirements to structure of assets in which investment of funds of insurance reserves of insurers or their part is allowed;

procedure of payments of normative ratio of own means (capital) and undertaken obligations of insurance company (including procedure for measure definition, used for calculation of such ratio), and also its minimum admissible value;

threshold value of normative ratio of own means (capital) and undertaken obligations of insurance company.

Chapter 1. Technique of determination of size of own means (capital) of insurance company

1.1. The size of own means (capital) of insurance company is determined as difference between asset cost and obligations.

For cost determination of assets of insurance company the cost of all its assets calculated according to Chapter 3 this provision as of calculating date is summed up.

The structure of the assets of insurance company which are subject to summing is determined proceeding from assets of insurance company which analytics are performed according to balance sheet accounts according to the Provision of the Bank of Russia of September 2, 2015 No. 486-P "About the Chart of accounts of financial accounting in not credit financial credit institutions and procedure for its application", by the registered Ministry of Justice of the Russian Federation on October 7, 2015 No. 39197, on December 28, 2016 No. 45012, on April 16, 2018 No. 50777, on May 24, 2019 No. 54722 (further - the Provision of the Bank of Russia No. 486-P), as of calculating date.

For cost determination of obligations of insurance company the cost of all its obligations calculated according to Chapter 4 this provision as of calculating date is summed up.

The structure of the obligations of insurance company which are subject to summing joins all its obligations which arose including from agreements and other transactions, owing to damnification, owing to unjust enrichment, owing to application to insurance company of measures of responsibility, and also its tax liabilities as of calculating date.

1.2. In case of determination of size of own means of insurance company the following assets are not considered:

1.2.1. the means of compulsory medical insurance intended for payment of medical care, arriving in medical insurance company according to the Federal Law of November 29, 2010 No. 326-FZ "About compulsory medical insurance in the Russian Federation" (The Russian Federation Code, 2010, No. 49, Art. 6422; 2019, No. 49, the Art. 6958) (further - the Federal Law "About Compulsory Medical Insurance in the Russian Federation") which are on the separate account determined by the insurer in the internal document specified in Item 1.5 of this provision allowing to determine that the specified means are means of target financing, except for the means recognized according to part 4 of article 28 of the Federal law "About Compulsory Medical Insurance in the Russian Federation" (The Russian Federation Code, 2010, No. 49, of Art. 6422; Art. 2016, №1, 52) own means of medical insurance company, in the amount of, not exceeding size of the obligations specified in subitem 1.3.1 of Item 1.3 of this provision;

1.2.2. assets which risks of change in value according to life insurance contracts are in full assigned to beneficiaries.

1.2.3. rights to claim in the amount of the obligations of insurance company caused by execution of such requirements provided that:

completion date of requirements did not come;

concerning the debtor proceeedings about bankruptcy are not initiated;

requirements of insurance company are uniform to obligations of insurance company.

1.3. In case of determination of size of own means of insurance company the following obligations are not considered:

1.3.1. the obligations arising according to the Federal Law "About Compulsory Medical Insurance in the Russian Federation", in the amount of, not exceeding size of the assets specified in subitem 1.2.1 of Item 1.2 of this provision;

1.3.2. obligations on payment to the beneficiary of size of change in value of the assets specified in subitem 1.2.2 of Item 1.2 of this provision, but no more than the size of the reserve of options and guarantees created according to requirements of the Provision of the Bank of Russia of November 16, 2016 No. 557-P "About rules of forming of insurance reserves on life insurance", the registered Ministry of Justice of the Russian Federation on December 29, 2016 No. 45055 (further - the Provision of the Bank of Russia No. 557-P), in the amount of, not exceeding size of the assets specified in subitem 1.2.2 of Item 1.2 of this provision;

1.3.3. obligations which analytics are performed on the following off-balance accounts of the second procedure according to the Provision of the Bank of Russia No. 486-P:

the securities accepted in providing on the placed means;

the property accepted in providing on the placed means except securities and precious metals;

the precious metals received in providing on the placed means;

the securities received on the transactions made on returnable basis;

fixed assets and other property received according to lease agreements;

contingent obligations of not credit nature regarding the amounts which are subject to payment on the disputes which are not settled on reporting date in claim or other pre-judicial procedure, and also on the legal proceedings which are not finished on reporting date in which the insurance company acts as the defendant and decisions according to which can be made only during the subsequent accounting periods (the property value which is subject to alienation based on the complaint made to insurance company, requirements of the third parties) according to the documents which arrived in insurance company, including from judicial and tax authorities, and the amounts on the disagreements which are not permitted on reporting date on payment of penalty (penalty fee, penalties) according to the signed agreements or regulations of the legislation of the Russian Federation.

1.3.4. the obligations caused by execution by the debtor of requirements of insurance company, in the amount of, not exceeding the size of such requirements provided that:

completion date of requirements did not come;

concerning the debtor proceeedings about bankruptcy are not initiated;

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