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. 2201

About approval of the Order of registration of agreements of reinsurance and provision by insurers (the assignor, overcautious persons) of information on the signed contracts of reinsurance with insurers (overcautious persons) by nonresidents

According to article 12 of the Law of Ukraine "About insurance", 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 4 of the Procedure and requirements for implementation of reinsurance at the insurer (overcautious person) of the nonresident approved by the resolution of the Cabinet of Ministers of Ukraine of February 4, 2004 No. 124, 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, POSTANOVILA:

1. Approve the Order of registration of agreements of reinsurance and provision by insurers (the assignor, overcautious persons) of information on the signed contracts of reinsurance with insurers (overcautious persons) by nonresidents which is applied.

2. Recognize invalid:

the order of State commission on regulation of the markets of financial services of Ukraine of June 04, 2004 No. 914 "About approval of the Procedure for provision by insurers (the assignor, overcautious persons) of information on the signed contracts of reinsurance with insurers (overcautious persons) by nonresidents in Natskomfinuslug", registered in the Ministry of Justice of Ukraine on June 23, 2004 for No. 777/9376;

the order of State commission on regulation of the markets of financial services of Ukraine of March 28, 2011 No. 153 "About approval of the Order of registration of agreements of reinsurance", registered in the Ministry of Justice of Ukraine on May 31, 2011 on No. 642/19380.

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 September 15, 2015 No. 2201

Order of registration of agreements of reinsurance and provision by insurers (assignors, overcautious persons) of information on the signed contracts of reinsurance with insurers (overcautious persons) by nonresidents

1. This Procedure is developed according to article 12 of the Law of Ukraine "About insurance" to both the Procedure and requirements concerning implementation of reinsurance at the insurer (overcautious person) of the nonresident approved by the resolution of the Cabinet of Ministers of Ukraine of February 4, 2004 No. 124 (further - Requirements).

2. The contracts of reinsurance signed with insurers (overcautious persons) nonresidents including with participation of insurance and/or reinsurance brokers, shall correspond to Item 2 of the Requirements and requirements to the external economic agreements (contracts) provided by the Law of Ukraine "About foreign economic activity". During the conclusion of contracts of reinsurance with insurers (overcautious persons) by nonresidents the international customs, recommendations, rules of the international bodies and organizations can be used if it is not forbidden by the Law of Ukraine "About foreign economic activity" or other laws.

3. Agreements of reinsurance are subject to registration at the insurer by means of the accounting and registering system of such insurer.

4. Accounting of agreements of reinsurance is performed by the insurer by means of the accounting and registering system of the insurer electronically by maintaining the corresponding register of agreements of reinsurance with indication of registration date of such agreement in chronological procedure in process of emergence of events which in it are registered.

5. Insurers shall enter in the register information on the conclusion, change or the termination of agreements of reinsurance within 2 working days from the date of their conclusion, change or the termination.

Data under the agreements of reinsurance which are subject to registration are stored by the insurer according to the procedure and the terms determined by the legislation.

6. The insurer provides possibility of copying, seal, recovery of information from the register of agreements of reinsurance, and also storage of any information in such register in the terms determined by the legislation.

Data of the accounting and registering systems of the insurer for any date shall correspond to accounting data.

7. In case of the conclusion of the contract of reinsurance with insurers (overcautious persons) by nonresidents the insurer (the assignor, the overcautious person) within 10 calendar days after the conclusion of such agreement directs together with the cover letter (it is constituted in any form) in Natskomfinuslug information on the agreement of reinsurance signed with the insurer (overcautious person) the nonresident (further - Information), in form according to appendix to this Procedure.

8. Information moves the insurer (the assignor, the reinsurer) in Natskomfinuslug with use of the web interface of access to the specialized software which is posted on the official site of Natskomfinuslug (in electronic form in the Microsoft Excel format).

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