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RESOLUTION OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF BELARUS

of September 13, 2007 No. 132

About approval of the Instruction about procedure of payments of the size of equity of insurance companies

(The last edition from 28-04-2018)

Based on the resolution of Council of Ministers of the Republic of Belarus of October 31, 2001 the Ministry of Finance of the Republic of Belarus DECIDES: No. 1585 "Questions of the Ministry of Finance of the Republic of Belarus"

Approve the enclosed Instruction about procedure of payments of the size of equity of insurance companies.

Minister

N.P.Korbut

Approved by the Resolution of the Ministry of Finance of the Republic of Belarus of September 13, 2007 No. 132

The instruction about procedure of payments of the size of equity of insurance companies

1. This Instruction establishes procedure of payments of the size of equity of insurance companies for the purpose of determination of capability of the insurer to fulfill insurance bonds and calculations of the standard rate of the agreement responsibility of voluntary insurance (joint insurance, reinsurance) other, than life insurance.

2. For calculation of the size of equity are used this to accounting (financial) records of the insurer.

3. The equity represents the settlement size consisting of the amount of means of funds and reserves of the insurer, free from future obligations, except for rights to claim of owners of property (founders, participants).

4. The equity includes the amounts of authorized fund, additional fund, reserve fund, retained earnings of last years and accounting year less uncovered losses and is calculated according to appendix.

5. The authorized capital is determined as difference between the size of authorized fund reflected in liability of the balance sheet under the article "Authorized capital" and its parts reflected in liability of the balance sheet under the articles "Unpaid Part of the Authorized Capital", "Own Shares (Share in the Authorized Capital)".

6. The additional fund is determined as difference between the size of the additional fund reflected in liability of the balance sheet under the article "Added capital" and size of additional fund in surplus amount (revaluation) of cost of the real estate objects acquired at the expense of means of insurance reserves, other funds formed by insurance companies for accomplishment of the obligations.

7. The reserve fund is determined as difference between the size of the reserve fund reflected in liability of the balance sheet under the article "Reserve capital" and size of reserve fund of the salary.

8. The retained earnings (uncovered loss) correspond to the amount of the sizes reflected in liability of the balance sheet under the articles "Net Profit (Loss) of the Accounting Period" and "Retained Earnings (Uncovered Loss)".

9. It is excluded

10. It is excluded

11.  No. 8 is excluded according to the Resolution of the Ministry of Finance of the Republic of Belarus of 10.02.2012

Appendix

to the Instruction about procedure of payments of the size of equity of insurance companies

Calculation of the size of equity of insurance company
on __________________ ____.
(1st day of quarter)

 (Belarusian rubles)

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