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THE RESOLUTION OF BOARD OF THE AGENCY OF THE REPUBLIC OF KAZAKHSTAN ON REGULATION AND DEVELOPMENT OF THE FINANCIAL MARKET

of February 12, 2021 No. 24

About approval of Rules and conditions of issue of permission to creation of the insurance (reinsurance) organization, and also requirements to contents of documents, Rules of issue of permission to opening of branch of the insurance (reinsurance) nonresident organization of the Republic of Kazakhstan, branch of the insurance nonresident broker of the Republic of Kazakhstan, and also requirements to contents of the business plan, Rules of licensing of insurance (reinsurance) activity and activities of insurance broker, and also requirements to contents of documents, Rules of voluntary return of the license for the right of implementation of insurance (reinsurance) activity

(as amended on 27-11-2023)

According to the laws of the Republic of Kazakhstan "About insurance activity" and "About state regulation, control and supervision of the financial market and financial institutions" Board of the Agency of the Republic of Kazakhstan on regulation and development of the DECIDES: financial market

1. Approve:

1) Rules and conditions of issue of permission to creation of the insurance (reinsurance) organization, and also the requirement to contents of documents according to appendix 1 to this resolution;

2) Rules of issue of permission to opening of branch of the insurance (reinsurance) nonresident organization of the Republic of Kazakhstan, branch of the insurance nonresident broker of the Republic of Kazakhstan, and also the requirement to contents of the business plan according to appendix 2 to this resolution;

3) Rules of licensing of insurance (reinsurance) activity and activities of insurance broker, and also the requirement to contents of documents according to appendix 3 to this resolution;

4) Rules of voluntary return of the license for the right of implementation of insurance (reinsurance) activity according to appendix 3-1 to this resolution.

2. Recognize invalid regulatory legal acts of the Republic of Kazakhstan, and also structural elements of some regulatory legal acts of the Republic of Kazakhstan according to the list according to appendix 4 to this resolution.

3. To provide to department of the insurance market and actuarial calculations 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 the Agency of the Republic of Kazakhstan on regulation and development of the financial market 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 action provided by the subitem 2) of this Item.

4. To impose control of execution of this resolution on the supervising vice-chairman of the Agency of the Republic of Kazakhstan on regulation and development of the financial market.

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

The chairman of the Agency of the Republic of Kazakhstan on regulation and development of the financial market

M. Abylkasymova

It is approved

Ministry of national economy of the Republic of Kazakhstan

 

It is approved

Ministry of digital development, innovations and aerospace industry of the Republic of Kazakhstan

 

Appendix 1

to the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of February 12, 2021 No. 24

Rules and conditions of issue of permission to creation of the insurance (reinsurance) organization, and also requirement to contents of documents

Chapter 1. General provisions

1. These rules and conditions of issue of permission to creation of the insurance (reinsurance) organization, and also the requirement to contents of documents (further - Rules) are developed according to Articles 66 and 73 of the Administrative procedural Procedure Code of the Republic of Kazakhstan, article 27 of the Law of the Republic of Kazakhstan "About insurance activity" (further - the Law), article 9 of the Law of the Republic of Kazakhstan "About state regulation, control and supervision of the financial market and financial institutions", the laws of the Republic of Kazakhstan "About the state services", "About permissions and notifications", "About the electronic document and the digital signature" and "About informatization" and determine procedure and conditions of issue by authorized body on regulation, control and supervision of the financial market and financial institutions (further - authorized body, the service provider) permissions to creation of the insurance (reinsurance) organization (further - the state service), and also requirements to contents of documents.

1-1. Information on the made changes and (or) additions in Rules is placed on official Internet resource of authorized body and goes to the operator of information and communication infrastructure of "the electronic government".

Chapter 2. Procedure and conditions of issue of permission to creation of the insurance (reinsurance) organization

2. For receipt of permission to creation of the insurance (reinsurance) organization the physical person or legal entity (further - the applicant, uslugopoluchatel) submits in authorized body the application for issue of permission to creation of the insurance (reinsurance) organization (further - the statement) in form according to appendix 1 to Rules in electronic form through the web portal of "the electronic government" www.egov.kz (further - the portal).

In case of the direction the applicant of the statement through the portal in "personal account" automatically displays the status about acceptance of request for rendering the state service with indication of date and time of receipt of result.

3. The basis for the procedure (action) for rendering the state service is obtaining by authorized body through the portal of the documents provided in the List of the main requirements to rendering the state service "Issue of Permission to Creation of the Insurance (Reinsurance) Organization, Opening of Branch of the Insurance (Reinsurance) Nonresident Organization of the Republic of Kazakhstan" according to appendix 2 to Rules (further – the List of the main requirements to rendering the state service).

4. The worker of the service provider, the representative on acceptance and registration of correspondence, in day of receipt of the statement performs its direction in the division responsible for rendering the state service (further – responsible division).

The employee of responsible division checks completeness of the submitted documents for compliance to requirements of Item 8 of the List of the main requirements to rendering the state service.

In case of factual determination of incompleteness of the submitted documents and (or) submission of documents with the expired effective period the service provider refuses reception of an application within 2 (two) working days from the moment of receipt of documents. The authorized body receives from the corresponding state information systems used for rendering the state services or service of digital documents of the data, specified in documents:

proving the identity of the physical person - the resident of the Republic of Kazakhstan;

confirming absence at the physical person - the resident of the Republic of Kazakhstan of not removed or unspent conviction;

about state registration (re-registration) of the legal entity - the resident of the Republic of Kazakhstan.

Processes of rendering the state services in all subspecies are identical.

5. The list of the documents and data requested at uslugopoluchatel for rendering the state service is provided in the List of the main requirements to rendering the state service.

6. In case of factual determination of completeness of the submitted documents the authorized body within 43 (forty three) working days considers them regarding compliance to requirements of article 27 of the Law and Item 5 of Rules.

In case of identification of the bases for refusal in rendering the state service the authorized body notifies uslugopoluchatel on the provisional solution about refusal in rendering the state service, and also time and the place (method) of carrying out hearing for provision to the applicant of opportunity to express line item according to the provisional solution.

The notification on hearing goes at least in 3 (three) working days prior to completion of term of rendering the state service. Hearing is carried out no later than 2 (two) working days from the date of the notification.

By results of consideration of the documents submitted by the applicant of hearing the responsible division prepares and submits for consideration of Board of authorized body the draft of the resolution on issue (about refusal in issue) permissions to creation of the insurance (reinsurance) organization (further - result of rendering the state service).

The employee of responsible division within 5 (five) working days after adoption of the resolution of Board of authorized body sends to the applicant to "personal account" through the portal and to The Government for Citizens State corporation the notification on issue of the permission to creation of the insurance (reinsurance) organization in electronic form signed by the digital signature of the authorized person of the service provider with appendix of the electronic copy of permission to creation of the insurance (reinsurance) organization or the motivated answer about refusal in provision of the state service.

7. Information on stage of rendering the state service is updated in the automatic mode in information system of monitoring of rendering the state services.

8. In case of discrepancy of the submitted documents to requirements of article 27 of the Law and Item 5 of Rules, except for the refusal bases in issue of permission to creation of the insurance (reinsurance) organization, the stipulated in Article 28 Laws, authorized body during the term of their consideration specified in Item 6 of article 27 of the Law sends uslugopoluchatel through the portal the letter with indication of these notes and term for their elimination.

Uslugopoluchatel resolves comments and submits the modifed (corrected) documents through the portal conforming to requirements of the Law and Governed, in time, established by authorized body. At the same time the term of rendering the state service by authorized body is not interrupted.

9. The authorized body issues permission to creation of the insurance (reinsurance) organization in form according to appendix 3 to Rules and records the permissions issued to them.

Chapter 3. Procedure for appeal of decisions, actions (failure to act) of authorized body and (or) its officials concerning rendering the state service

10. Consideration of the claim concerning rendering the state services is made by the head of authorized body, authorized body by assessment and control of quality of rendering the state services (further - the body considering the claim).

The claim is submitted to the service provider, the official whose decision, action (failure to act) are appealed.

The service provider, the official, whose decision, action (failure to act) are appealed, no later than 3 (three) working days from the date of receipt of the claim send it to the body considering the claim.

The claim of uslugopoluchatel which arrived to the service provider according to Item 2 of article 25 of the Law of the Republic of Kazakhstan "About the state services" is subject to consideration within 5 (five) working days from the date of its registration.

The claim of uslugopoluchatel which arrived to authorized body by assessment and control of quality of rendering the state services is subject to consideration within 15 (fifteen) working days from the date of its registration.

If other is not provided by the Law, appeal to the court is allowed after appeal in pre-judicial procedure.

11. In the claim sent to the head of authorized body are specified:

1) surname, name, and also at will middle name (in case of its availability), the postal address (for physical person);

2) the name, the postal address, reference number and date (for the legal entity).

Confirmation of adoption of the claim by the head of authorized body is its registration (stamp, the entering number and date) in office of authorized body with indication of surname and initials of person which accepted the claim, term and the place of receipt of the answer to the made complaint.

In case of the address through the portal information on procedure for appeal can be obtained by phone single contact center: 8-800-080-7777 or 1414.

When sending the claim through the portal information on the claim which is updated during processing of the claim by authorized body is available to uslugopoluchatel from "personal account" (mark about delivery, registration, execution, the answer about consideration or refusal in consideration).

Chapter 4. Requirements to contents of the documents submitted for receipt of permission to creation of the insurance (reinsurance) organization

12. The information about founders - physical persons is provided in appendix 4 to Rules.

13. The information about founders - legal entities is provided in appendix 5 to Rules.

14. The main requirements to the business plan of the insurance (reinsurance) organization are provided in appendix 6 to Rules.

The business plan developed for the next three years for the insurance (reinsurance) organizations created in industry "general insurance" and for five years for the insurance (reinsurance) organizations created in industry "life insurance" affirms person authorized by founders on signing of documents, is certified by the actuary having the license for implementation of actuarial activities in the insurance market.

15. The documents issued by body of financial supervision, other competent authorities or officials of foreign states are subject to legalization or apostilization according to the international treaties ratified by the Republic of Kazakhstan (except for identity documents of the physical person - the nonresident of the Republic of Kazakhstan).

The documents submitted in foreign language are translated into the Kazakh and Russian languages and are subject to the notarial attestation according to article 80 of the Law of the Republic of Kazakhstan "About notariate".

Appendix 1

to Rules and conditions of issue of permission to creation of the insurance (reinsurance) organization, and also requirements to contents of documents

Form

The statement on receipt of permission to creation of the insurance (reinsurance) organization

In

______________________________________________________________________

______________________________________________________________________
                    (full name of authorized body)

from

______________________________________________________________________

(surname, name, middle name (in case of its availability) physical person, the name

the legal entity, surname, name, middle name (in case of its availability) the representative

legal entity, physical person)

______________________________________________________________________
      (notarially or otherwise the certified document, confirmatory
  powers of the applicant on submission of this statement on behalf of founders)

______________________________________________________________________
(place of employment of the applicant and the position held by it, the residence, legal address)

asks according to the protocol (decision) of authorized body of the applicant

the legal entity No. ____ from "___" ____________ years:

(it is not required for the physical person solely making the decision)

1) to issue permission to opening

______________________________________________________________________

______________________________________________________________________;

(full name and the location created insurance

(reinsurance) organization)

The following item is filled in case of intention of receipt of the status of the large member of the insurance (reinsurance) organization and (or) insurance holding:

2) to issue consent to acquisition

______________________________________________________________________

______________________________________________________________________
     (surname, name, middle name (in case of its availability) physical person, the name
                                 legal entity (in the presence)

status of the large member of the insurance (reinsurance) organization and (or) insurance holding;

(necessary to choose)

The following item is filled in case of intention of receipt of permission to creation of the affiliated organization or considerable equity participation:

3) to issue permission to creation

______________________________________________________________________

______________________________________________________________________
  (surname, name, middle name (in case of its availability) physical person, the name
                                legal entity (in the presence)

affiliated organization or considerable equity participation

______________________________________________________________________
                                       (necessary to choose)

______________________________________________________________________;
        (the name of the opened insurance (reinsurance) organization)
                      (it is filled in case of need)

Data on conditions and procedure for share acquisition of the insurance (reinsurance) organization, including the description of the sources and means used for share acquisition

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________

Information about the applicant:

1) place residence (location)

______________________________________________________________________
                                          (postal address)

2) individual identification number (business -

identification number) _____________________________________________;

3) e-mail ______________________________________________;

4) _____________________________________________________ phones;

5) surname, name, middle name (in case of its availability) and position of the representative

the applicant - the legal entity ___________________________________________

______________________________________________________________________

Activity: _________________________________________

______________________________________________________________________
                           (specify industry, classes and types of insurance)

The founder (founders) confirms (confirm) reliability of the documents and data enclosed to the application, and also timely representation to authorized body of information requested in connection with consideration of this statement.

The founder (founders) represents (represent) the consent to collection and processing of the personal data and to use of the data which are the secret protected by the law, containing in information systems.

(the digital signature of the applicant (the applicant's representative – the legal entity)

(the digital signature of the applicant (the applicant's representative – the legal entity)

Appendix 2

to Rules and conditions of issue of permission to creation of the insurance (reinsurance) organization, and also requirements to contents of documents

List of the main requirements to rendering the state service "Issue of Permission to Creation of the Insurance (Reinsurance) Organization, Opening of Branch of the Insurance (Reinsurance) Nonresident Organization of the Republic of Kazakhstan" in subspecies "Permission to creation of the insurance (reinsurance) organization"

Name of the state service

Issue of permission to creation of the insurance (reinsurance) organization, opening of branch of the insurance (reinsurance) nonresident organization of the Republic of Kazakhstan.

Name of subspecies of the state service

Permission to creation of the insurance (reinsurance) organization.

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