Document from CIS Legislation database © 2003-2023 SojuzPravoInform LLC

It is registered

Ministry of Justice

Russian Federation

On September 9, 2015 No. 38865

INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of July 28, 2015 No. 3743-U

About procedure of payments insurance company of normative ratio of own means (capital) and undertaken obligations

(as amended on 09-01-2018)

This Instruction based on article 25 of the Law of the Russian Federation of November 27, 1992 No. 4015-1 "About the organization of insurance case in the Russian Federation" (Sheets of the Congress of People's Deputies of the Russian Federation and the Supreme Council of the Russian Federation, 1993, No. 2, Art. 56; Russian Federation Code, 1998, No. 1, Art. 4; 1999, No. 47, Art. 5622; 2002, No. 12, Art. 1093; No. 18, Art. 1721; 2003, No. 50, Art. 4855, Art. 4858; 2004, No. 30, Art. 3085; 2005, No. 10, Art. 760; No. 30, Art. 3101, Art. 3115; 2007, No. 22, Art. 2563; No. 46, Art. 5552; No. 49, Art. 6048; 2009, No. 44, Art. 5172; 2010, No. 17, Art. 1988; No. 31, Art. 4195; No. 49, Art. 6409; 2011, No. 30, Art. 4584; No. 49, Art. 7040; 2012, No. 53, Art. 7592; 2013, No. 26, Art. 3207; No. 30, Art. 4067; No. 52, Art. 6975; 2014, No. 23, Art. 2934; No. 30, Art. 4224; No. 45, Art. 6154; 2015, No. 10, Art. 1409; No. 27, of the Art. 4001) (further - the Law of the Russian Federation "About the organization of insurance case in the Russian Federation") establishes procedure of payments insurance company of normative ratio of own means (capital) and undertaken obligations (including determines the indicators used for such calculation).

1. This Instruction does not extend to medical insurance companies regarding transactions on compulsory medical insurance.

2. The normative ratio of own means (capital) and undertaken obligations (further - normative ratio) is calculated insurance company as the relation of the actual size of margin of solvency to the normative size of margin of solvency and reflects sufficiency of own means (capital) of insurance company.

The actual size of margin of solvency of insurance company shall not be less normative size of margin of solvency of the specified insurance company.

3. Calculation of normative ratio is perfromed for calculating date based on accounting data and the reporting of insurance company.

Calculating date is understood as date as of which the insurance company shall constitute accounting (financial) records.

Also calculation of normative ratio is perfromed by bank inquiry of Russia or other authorized person about the date established in such request.

When calculating normative ratio insurance reserves on life insurance are understood as the insurance reserves created according to the Provision of the Bank of Russia of November 16, 2016 No. 557-P "About rules of forming of insurance reserves on life insurance", the registered Ministry of Justice of the Russian Federation on December 29, 2016 No. 45055 ("the Bulletin of the Bank of Russia" of January 19, 2017 No. 5), unless otherwise specified.

Insurance reserves on insurance to other, than life insurance, are understood as the insurance reserves created according to the Provision of the Bank of Russia of November 16, 2016 No. 558-P "About rules of forming of insurance reserves on insurance to other than life insurance", by the registered Ministry of Justice of the Russian Federation on December 29, 2016 No. 45054 ("the Bulletin of the Bank of Russia" of January 19, 2017 No. 5), unless otherwise specified.

4. If for calculation of normative ratio in accordance with the legislation of the Russian Federation it is impossible to calculate any of the indicators necessary for such calculation, it is accepted equal to its size for the next date which it could be expected.

5. The actual size of margin of solvency of insurance company represents the settlement size determined as the amount of the authorized capital, the added capital, the reserve capital, retained earnings of accounting year and last years reduced by uncovered losses of accounting year and last years; on debt of shareholders (participants) on fees in the authorized capital; on the cost of own shares (shares or parts of shares in the authorized capital) redeemed from shareholders (participants); on the cost of intangible assets; on receivables which repayment periods expired, less the provisions created under impairment of this debt in accordance with the legislation of the Russian Federation; and also on the amount of the subordinated loans issued by insurance company to its subsidiaries.

The settlement size of the actual size of margin of solvency of insurance company decreases also by the size of adjustment of insurance reserves.

Adjustment of insurance reserves (KR) is determined by the following formula:

                                                       The KR = (Srreg - Dolyareg - Dopreg) - (Srotch - Dolyaotch - Oarotch + Oadotch) - No. x ((Srreg - Dolyareg) - (Srotch - Dolyaotch - Oarotch + Oadotch)),

where:

The KR - adjustment of insurance reserves for settlement date of normative ratio;

SR reg - the total size of insurance reserves on life insurance and insurance to other, than life insurance, for settlement date of normative ratio;

Share reg - the total size of shares of overcautious persons in insurance reserves on life insurance and insurance to other, than life insurance;

Top reg - the size of additional part of reserve of not earned premium;

SR otch - the amount of estimates of insurance reserves on insurance to other, than life insurance, taking into account assessment of future receipts on subrogations, regresses and from realization of suitable remaining balance, insurance reserves on life insurance, agreement obligations, classified as investment, determined according to the principles described in the Provision of the Bank of Russia of September 4, 2015 No. 491-P "Industry standard of financial accounting in the insurance companies and societies of mutual insurance located in the territory of the Russian Federation", No. registered by the Ministry of Justice of the Russian Federation on October 21, 2015 39399, on December 15, 2016 No. 44742 ("the Bulletin of the Bank of Russia" of November 9, 2015 No. 99-100, of January 17, 2017 No. 2) (further - the Principles), for settlement date of normative ratio;

Share otch - the amount of share of overcautious persons in reserves on insurance to other, than life insurance, taking into account share of overcautious persons in assessment of future receipts on subrogations, regresses and from realization of suitable remaining balance, share of overcautious persons in reserves on life insurance, shares of overcautious persons in life insurance agreement obligations, classified as investment, determined according to the Principles;

OAR otch - the size of the postponed acquisition expenses determined according to the Principles;

OAD otch - the size of the postponed acquisition income determined according to the Principles.

Warning!!!

This is not a full text of document! Document shown in Demo mode!

If you have active License, please Login, or get License for Full Access.

With Full access you can get: full text of document, original text of document in Russian, attachments (if exist) and see History and Statistics of your work.

Get License for Full Access Now

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

Effectively work with search system

Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.