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

of September 3, 2010 No. 135

About approval of the Instruction about measures for maintenance by insurance holding, and also the large member of the insurance (reinsurance) organization - the physical person owning directly or indirectly more than twenty five percent voting (less exclusive) shares of the insurance (reinsurance) organization, prudential standard rates

(In edition of the Resolution of Board of National Bank of the Republic of Kazakhstan of 30.05.2016 No. 127)

For the purpose of implementation of the Law of the Republic of Kazakhstan of December 18, 2000 "About insurance activity" the Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations (further - the Agency) DECIDES:

1. Approve the enclosed Instruction about measures for maintenance by insurance holding, and also the large member of the insurance (reinsurance) organization - the physical person owning directly or indirectly more than twenty five percent voting (less exclusive) shares of the insurance (reinsurance) organization, prudential standard rates.

3. This resolution becomes effective after ten calendar days after day of its first official publication.

4. To department of supervision of subjects of the insurance market and other financial organizations (Karakulova of Sh):

1) together with Legal department (Sarsenov N. V.) to take measures to state registration in the Ministry of Justice of the Republic Kazakhstan of this resolution;

2) in ten-day time from the date of state registration in the Ministry of Justice of the Republic of Kazakhstan of this resolution to bring it to the attention of the interested divisions of the Agency, Consolidation of legal entities "The association of financiers of Kazakhstan".

5. To service of the Chairman of the Agency (Kenzhe A. A.) take measures for publication of this resolution in mass media of the Republic of Kazakhstan.

6. To impose control of execution of this resolution on the vice-chairman of the Agency Aldambergen A. U.

Chairman

E.Bakhmutova

Approved by the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations of September 3, 2010 No. 135

The instruction about measures for maintenance by insurance holding, and also the large member of the insurance (reinsurance) organization by the physical person owning directly or indirectly more than twenty five percent voting (less exclusive) shares of the insurance (reinsurance) organization, prudential standard rates

1. This Instruction is developed according to article 46-1 of the Law of the Republic of Kazakhstan of December 18, 2000 "About insurance activity" and establishes measures for maintenance by insurance holding, and also the large participant insurance (reinsurance) the organizatsiifizichesky person owning directly or indirectly in more than twenty five percent voting (less exclusive) shares of the insurance (reinsurance) organization (further - the large participant), prudential standard rates.

2. Measures for maintenance of prudential standard rates of the insurance (reinsurance) organization and (or) the standard rate of sufficiency of margin of solvency of insurance group are not lower than the minimum normative values established by the resolution No. 131, determined by this Instruction and subject to execution by insurance holdings, and also large participants, include:

1) for insurance holdings - availability of internal documents;

2) permanent ensuring accomplishment of prudential standard rates of the insurance (reinsurance) organization and (or) standard rate of sufficiency of margin of solvency of insurance group;

3) operational ensuring accomplishment of prudential standard rates of the insurance (reinsurance) organization and (or) standard rate of sufficiency of margin of solvency of insurance group.

3. Internal documents of insurance holding contain list, conditions and procedure for application by insurance holding of measures for maintenance of prudential standard rates of the insurance (reinsurance) organization and (or) the standard rate of sufficiency of margin of solvency of insurance group.

4. Measures of permanent ensuring accomplishment of prudential standard rates of the insurance (reinsurance) organization and (or) the standard rate of margin of solvency of insurance group include the following:

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