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FEDERAL LAW OF THE RUSSIAN FEDERATION

of November 2, 2013 No. 293-FZ

About actuarial activities in the Russian Federation

(as amended on 11-06-2021)

Accepted by the State Duma of the Russian Federation on October 25, 2013

Approved by Council of the Russian Federation on October 30, 2013

Article 1. Legal regulation of actuarial activities in the Russian Federation

Actuarial activities in the Russian Federation (further - actuarial activities) are performed according to international treaties of the Russian Federation, this Federal Law, and also other Federal Laws, other regulatory legal acts of the Russian Federation, regulations of the Central bank of the Russian Federation (Bank of Russia) governing the relations arising when implementing actuarial activities (further - the legislation on actuarial activities).

Article 2. The basic concepts used in this Federal Law

For the purposes of this Federal Law the following basic concepts are used:

1) actuarial activities - activities for the analysis and quantitative, financial risks assessment and (or) the risks of financial liabilities caused by availability, and also development and efficiency evaluation of financial risk management methods;

2) actuarial estimation - type of actuarial activities for the analysis and quantitative, financial risks assessment and (or) the risks of financial liabilities caused by availability of which the actuarial conclusion is result;

3) the actuary - the physical person performing on professional basis according to the employment contract or the civil agreement actuarial activities and being the member of self-regulatory organization of actuaries;

4) the responsible actuary - the actuary, data on whom are entered by authorized body in the unified register of responsible actuaries;

5) authorized body - Central bank of the Russian Federation (Bank of Russia);

6) subjects of actuarial activities - the actuary and the responsible actuary;

7) object of actuarial activities - activities of bodies and organizations regarding financial risks and (or) accomplishment of the risks of financial liabilities caused by availability which are subject to actuarial estimation or concerning which other type of actuarial activities is performed;

8) results of actuarial activities - the actuarial conclusion, the report on results of verification of the actuarial conclusion, results of actuarial calculations;

9) the actuarial conclusion - the document which is prepared following the results of actuarial estimation contains valid conclusions about amount of financial liabilities of body or organization which activities were subject to actuarial estimation, about possibility of their accomplishment or about possibility of achievement of certain financial performance and is held for use the customer, authorized body, other interested persons;

10) actuarial calculations - calculations in the course of implementation of actuarial activities of financial and economic indicators with use of mathematical and statistical techniques;

11) the report on results of verification of the actuarial conclusion - the document which is prepared following the results of verification of the actuarial conclusion contains opinion on reliability of the actuarial conclusion and is held for use the customer, authorized body, other interested persons.

Article 3. Obligatory actuarial estimation

1. Subject to obligatory actuarial estimation are activities:

1) authorized body in case of development of insurance rates on compulsory insurance;

2) non-state pension funds;

3) insurance companies, except for the medical insurance companies performing only compulsory medical insurance;

4) societies of mutual insurance.

2. Others can be established by the Federal Laws except specified regarding 1 this Article bodies and the organizations which activities are subject to obligatory actuarial estimation, and also additional requirements to procedure for carrying out actuarial estimation.

3. Obligatory actuarial estimation of activities of non-state pension funds, insurance companies, societies of mutual insurance is carried out by the responsible actuary at least once a year. At the same time the obligation of ensuring carrying out such actuarial estimation is assigned to the specified organizations.

4. The actuarial conclusion prepared following the results of obligatory actuarial estimation of activities of non-state pension fund of the insurance company performing activities for the voluntary insurance of life, compulsory insurance provided by the Federal Law on specific type of compulsory insurance, to reinsurance is subject to check by the responsible actuary. The obligation on ensuring verification of the actuarial conclusion is assigned to the specified organizations. Following the results of verification of the actuarial conclusion the report on results of verification of the actuarial conclusion which is subject to the direction in authorized body the responsible actuary performing the actuarial conclusion is prepared if other procedure for the direction of such report in authorized body is not established by the Federal Laws.

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