Ministry of Justice
On December 22, 2014 No. 35297
of November 16, 2014 No. 3444-U
About procedure for investment of means of insurance reserves and the list of the assets permitted for investment
This Instruction based on article 26 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. 14 Art. 1549; No. 23 of Art. 2934; No. 30, Art. 4224; No. 45, the Art. 6154) (further - the Law of the Russian Federation "About the organization of insurance case in the Russian Federation"), article 20 of the Federal Law of November 29, 2007 No. 286-FZ "About mutual insurance" (The Russian Federation Code, 2007, No. 49, Art. 6047; 2012, No. 53, Art. 7619; 2013, No. 30, Art. 4084; 2014, No. 45, the Art. 6154) establishes the list of the assets permitted for investment and the procedure for investment of means of insurance reserves providing requirements to issuers of securities or issues of securities depending on assignment of ratings, inclusion in quoted lists by organizers of trade in the security market to structure of assets in which investment of funds of insurance reserves is allowed (including the requirements providing the maximum permitted percent of cost of each asset type or group of assets from the size of insurance reserves or separate types of insurance reserves).
1. The total cost of assets in which means of insurance reserves are invested shall be equal to the total size of insurance reserves of the insurer.
2. This Instruction does not extend to medical insurance companies regarding transactions on compulsory medical insurance.
3. Means of insurance reserves cannot be invested in assets in which own means (capital) of the insurer are invested. If own means (capital) of the insurer are invested in part of asset cost, means of insurance reserves can be invested in the rest of cost.
4. The asset cost in which means of insurance reserves are invested is determined for calculating date in assessment by accounting data if other is not established by the legislation of the Russian Federation.
5. Assets in which means of insurance reserves are invested cannot be pledge subject.
6. For investment of means of insurance reserves the following asset types taking into account the requirements specified in Item 7 of this Instruction are taken.
6.1. Government securities of the Russian Federation and securities on which obligation fulfillment is guaranteed by the Russian Federation (including by guaranteeing obligation fulfillment, following from the bank guarantees and (or) guarantees providing obligation fulfillment, following from the specified securities).
6.3. Municipal securities.
6.5. The bonds which are not relating to the securities specified in subitems 6.1 - 6.3, 6.6, 6.17 these Items.
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