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The document ceased to be valid since  September 27, 2019 according to Appendix to the Resolution of the Ministry of Finance of the Republic of Belarus of August 9, 2019 No. 39

RESOLUTION OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF BELARUS

of March 1, 2004 No. 28

About establishment of the standard rate of expenses on conducting case for insurance companies

(as amended on 24-05-2016)

According to the Regulations on the Ministry of Finance of the Republic of Belarus approved by the resolution of Council of Ministers of the Republic of Belarus of October 31, 2001 No. 1585 "Questions of the Ministry of Finance of the Republic of Belarus", the Ministry of Finance of the Republic of Belarus DECIDES:

1. Establish the standard rate of expenses on conducting case in the amount of:

for the insurance companies performing the types of insurance relating to life insurance - no more than 12 percent from the amount of insurance premiums (awards);

for the insurance companies performing types of insurance, others than life insurance:

by types of voluntary insurance - no more than 35 percent from the amount of insurance premiums (awards);

by types of compulsory insurance, except for compulsory insurance from labor accidents and occupational diseases, the compulsory national insurance (provided in the legislation of compulsory insurance of life, health and (or) property of citizens at the expense of means of the relevant budget) and compulsory insurance with the state support of harvest of crops, the cattle and bird, - no more than 25 percent from the amount of insurance premiums (awards).

on compulsory insurance from labor accidents and occupational diseases – no more than 6 percent from the amount of insurance premiums;

on compulsory insurance with the state support of harvest of crops, the cattle and bird – no more than 6 percent from the amount of insurance premiums.

2. Insurance premiums (awards) for the purposes of determination of the standard rate of expenses on conducting case are understood as insurance premiums (awards) for the accounting period (the accruing result since the beginning of year) under agreements of direct insurance, joint insurance in the amount of share of the insurance premium established in the agreement of joint insurance.

For the purposes of determination of the standard rate of expenses on conducting case on conducting case of insurance company for the accounting period (the accruing result since the beginning of year) are excluded from the amount of actual expenses:

cost amount under the article "Payments in the Budget and Off-budget Funds";

the commission amounts added by the overcautious person and broking commission, bonuses under the agreements accepted in reinsurance;

cost amount on carrying out statutory audit of accounting (financial) records;

cost amount under the articles "Fixed Asset Depreciation" and "Depreciation of Intangible Assets";

cost amount under the article "Expenses on Repair of Fixed Assets";

the expenses connected with rendering free aid based on acts of the President of the Republic of Belarus.

3. Control of observance of expenses on conducting case of insurance company to the established standard rates on the types of insurance specified in Item 1 of this resolution is performed based on the provided accounting and (or) financial reporting on reporting date by comparison of the normative expense amount on conducting case calculated from the amount of insurance premiums (awards) on these types of insurance (the accruing result since the beginning of year) with the total amount of actual expenses on conducting case estimated for the purposes of determination of the standard rate of expenses on conducting case on these types of insurance.

Minister 

N.P.Korbut

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

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