THE ORDER OF THE NATIONAL COMMISSION PERFORMING STATE REGULATION IN THE SPHERE OF THE MARKETS OF FINANCIAL SERVICES OF UKRAINE

of September 15, 2015 No. 2200

About approval of the Procedure for certification of references for carrying out agreement settlements of insurance and reinsurance with nonresidents whose action extends to the foreign territory, and recognition No. 568 which voided orders of State commission on regulation of the markets of financial services of Ukraine of July 9, 2010

According to Item of 1 part one of article 28 of the Law of Ukraine "About financial services and state regulation of the markets of financial services", to Item 5 parts one of article 36 of the Law of Ukraine "About insurance", to the subitem 7 of Item 3 of the Regulations on the National commission performing state regulation in the sphere of the markets of financial services, No. approved by the Presidential decree of Ukraine of November 23, 2011 1070, the National commission performing state regulation in the sphere of the markets of financial services decided:

1. Approve the Procedure for certification of references for carrying out agreement settlements of insurance and reinsurance with nonresidents whose action extends to the foreign territory which is applied.

2. Declare invalid the order of State commission on regulation of the markets of financial services of Ukraine of July 9, 2010 No. 568 "About approval of the Procedure for certification of certificates of reinsurance compensation (payment) for the agreement of reinsurance signed with the overcautious person the nonresident", registered in the Ministry of Justice of Ukraine on July 28, 2010 on No. 568/17863 (with changes).

3. To provide to department of insurance regulation and supervision together with department of legal providing and maintaining the register of financial institutions submission of this order to the Ministry of Justice of Ukraine for state registration.

4. This order becomes effective from the date of its official publication.

5. To provide to the sector of public relations and the protocol promulgation of this order after its state registration.

6. Control over the implementation of this order to assign to the member Natskomfinuslug Maksimchuk A. V.

Approved by the Order of the National commission performing state regulation in the sphere of the markets of financial services of Ukraine of September 15, 2015 No. 2200

Procedure for certification of references for carrying out agreement settlements of insurance and reinsurance with nonresidents whose action extends to the foreign territory

1. This Procedure establishes the procedure of assurance by the National commission performing state regulation in the sphere of the markets of financial services, references which form is approved in appendices 1 - 3 to the Regulations on application of foreign currency in insurance activity approved by the resolution of Board of the National Bank of Ukraine of April 11, 2000 No. 135, registered in the Ministry of Justice of Ukraine on April 27, 2000 at No. 254/4475 (further - the Provision), for ensuring settlings with nonresidents according to insurance contracts and reinsurance (including concluded with participation of insurance and/or reinsurance brokers) which action extends to the foreign territory (further - References).

2. The resident insurer, that it intends to perfrom calculations for ensuring payments of insurance indemnity to nonresident insurers - to legal entities according to the signed insurance contracts which action extends to the foreign territory, submits to Natskomfinuslug together with the cover letter (it is constituted in any form) the following documents:

the reference according to the insurance contracts signed with nonresident insurers legal entities constituted according to appendix 1 to the Provision, signatures of the head and chief accountant of the insurer and the copy of such reference;

the signature of the head of the insurer the copy of the insurance act (average certificate) and documents confirming the extent of the caused damage and the related expenses.

3. The resident insurer, permanent missions of insurance (reinsurance) nonresident brokers or insurance (reinsurance) brokers residents (further - insurance brokers) which intend to perfrom agreement settlements of reinsurance with the nonresident overcautious person, including the prisoner with mediation of insurance broker, represent to Natskomfinuslug together with the cover letter (it is constituted in any form) the following documents:

the certificate of reinsurance compensation (payment) for the agreement of reinsurance signed with the nonresident overcautious person, constituted according to appendix 2 to the Provision, signatures of the head and chief accountant of the insurer or head of insurance broker and the copy of such reference;

copy of the requirement (statement) of the nonresident overcautious person for payment of reinsurance compensation (implementation of reinsurance payment), signature of the head of the insurer or head of insurance broker;

the signature of the head of the insurer or head of insurance broker the copy of the insurance act (average certificate) or other documents which under the agreement of reinsurance are provided for confirmation of loss occurrence and the extent of the caused damage (the act of the losses suffered by the nonresident overcautious person (bordero / bordereau of losses)).

4. The resident insurer for covering of part of insurance reserves in foreign currency according to life insurance contracts in the limits set by the legislation of Ukraine if he bears responsibility on the insurance bonds in foreign currency, represents to Natskomfinuslug together with the cover letter (it is constituted in any form) the following documents:

the reference according to life insurance contracts which were used for calculation of the size of reserves of long-term obligations for covering of responsibility to insurers in foreign currency, constituted according to appendix 3 to the Provision, signatures of the head, chief accountant of the insurer and actuary and the copy of such reference;

the list of insurance contracts which were used for calculation of the size of reserves of long-term obligations for covering of responsibility to insurers in foreign currency (in any form).

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