RESOLUTION OF THE CABINET OF MINISTERS OF THE KYRGYZ REPUBLIC

of October 9, 2025 No. 650

About approval of qualification requirements to participants of the insurance market and temporary administration on management of the insurance (reinsurance) organizations

For the purpose of realization of part 3 of article 82 of the Law of the Kyrgyz Republic "About insurance and insurance activity", according to articles 13, of the 17th constitutional Law of the Kyrgyz Republic "About the Cabinet of Ministers of the Kyrgyz Republic" the Cabinet of Ministers of the Kyrgyz Republic decides:

1. Approve:

1) Regulations on the qualification requirements imposed to officials of the insurance (reinsurance) organization according to appendix 1;

2) Regulations on activities of insurance brokers in the Kyrgyz Republic according to appendix 2;

3) Regulations on actuarial activities in the Kyrgyz Republic according to appendix 3;

4) Regulations on temporary administration on management of the insurance (reinsurance) organizations according to appendix 4;

5) Regulations on qualification requirements to appraisers, insurance surveyor and adzhaster according to appendix 5.

2. Recognize invalid:

1) the order of the Government of the Kyrgyz Republic "About approval of the Regulations on temporary administration on management of the insurance (reinsurance) organizations" of November 11, 2011 No. 712;

2) the order of the Government of the Kyrgyz Republic "About approval of the Regulations on the qualification requirements imposed to officials of the insurance (reinsurance) organization" of August 1, 2012 on No. 525;

3) Items 8, the 9th orders of the Government of the Kyrgyz Republic "About modification and amendments in some decisions of the Government of the Kyrgyz Republic" of August 26, 2014 No. 485;

4) the order of the Government of the Kyrgyz Republic "About modification of the order of the Government of the Kyrgyz Republic "About approval of the Regulations on the qualification requirements imposed to officials of the insurance (reinsurance) organization" of August 1, 2012 on No. 525" of March 26, 2015 No. 159;

5) the order of the Government of the Kyrgyz Republic "About questions of activities of insurance brokers in the Kyrgyz Republic" of May 11, 2016 No. 239;

6) item 4 of the order of the Government of the Kyrgyz Republic "About modification and amendments in some decisions of the Government of the Kyrgyz Republic" of June 2, 2016 No. 293;

7) the order of the Government of the Kyrgyz Republic "About questions of activities of actuaries in the Kyrgyz Republic" of June 1, 2017 No. 321;

8) the order of the Government of the Kyrgyz Republic "About modification of the order of the Government of the Kyrgyz Republic "About approval of the Regulations on the qualification requirements imposed to officials of the insurance (reinsurance) organization" of August 1, 2012 on No. 525" of August 1, 2017 No. 456;

9) Item 5 of the order of the Government of the Kyrgyz Republic "About modification of some decisions of the Government of the Kyrgyz Republic concerning counteraction to financing of terrorist activities and to legalization (washing) of the criminal income" of September 16, 2019 No. 477;

10) the resolution of the Cabinet of Ministers of the Kyrgyz Republic "About modification of the order of the Government of the Kyrgyz Republic "About approval of the Regulations on the qualification requirements imposed to officials of the insurance (reinsurance) organization" of August 1, 2012 on No. 525" of June 12, 2024 No. 305.

3. This resolution becomes effective after ten days from the date of official publication.

Appendix 1

to the Resolution of the Cabinet of Ministers of the Kyrgyz Republic of October 9, 2025 No. 650

Regulations on the qualification requirements imposed to officials of the insurance (reinsurance) organization

Chapter 1. General provisions

1. This Regulations on the qualification requirements imposed to officials of the insurance (reinsurance) organization (further - the Provision) establish the qualification requirements imposed to officials of the insurance (reinsurance) organization for the purpose of compliance to their level of competence, qualification and conscientiousness for accomplishment of the obligations and tasks.

2. Officials of the insurance (reinsurance) organizations are:

1) head individual or collegiate executive body;

2) members of collegiate executive body;

3) chief accountant;

4) internal auditor.

3. For implementation of insurance activity in the territory of the Kyrgyz Republic and execution of the functional obligations officials of the insurance (reinsurance) organizations need to undergo in authorized state body of management on insurance supervision of the Kyrgyz Republic (further - authorized state body) coordination on compliance to the qualification requirements established by this Provision.

Coordination is carried out in the following cases:

- for receipt of the license for the right of implementation of insurance activity for the newly created insurance (reinsurance) organizations;

- in case of change of list of officials of the insurance (reinsurance) organizations.

Chapter 2. The main qualification requirements imposed to officials of the insurance (reinsurance) organization

4. Officials of the insurance (reinsurance) organization shall have the higher education, competence, experience and length of service.

5. Officials of the insurance (reinsurance) organization shall have the higher education recognized in the Kyrgyz Republic.

Secondary professional education for the chief accountant is allowed, but at the same time the work experience in the specialty in financial credit institutions as the accountant - is surely considered at least three years.

6. Qualification requirements to years of service and work experience of officials of the insurance (reinsurance) organizations:

1) the head individual or collegiate executive body shall have length of service at least three years in insurance companies, financial credit institutes or in public service, including on executive positions at least two years;

2) members of collegiate executive body shall have length of service at least two years in the insurance (reinsurance) organizations or have length of service at least three years in financial credit institutes or in public service;

3) the chief accountant shall have length of service at least two years as the accountant in the sphere of insurance activity, or at least three years as the accountant in financial credit institutes, or at least five years as the chief accountant;

4) the internal auditor shall have length of service at least two years as the chief accountant, the internal auditor of the insurance (reinsurance) organization either financial credit institutes, or public institution;

5) the working life determined by this Item does not join the work in divisions of the financial organization connected with ensuring its safety, implementation of administrative activities, development of information technologies (except for the division manager of development of information technologies);

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