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Ministry of Justice

Russian Federation

On May 10, 2017 No. 46648

INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of February 22, 2017 No. 4298-U

About procedure for investment of own means (capital) for the insurer and the list of the assets permitted for investment

(The last edition from 03-09-2018)

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, Art. 3946, Art. 4001; No. 29, Art. 4357, Art. 4385; No. 48, Art. 6715; 2016, №1, of Art. 52; No. 22, Art. 3094; No. 26, Art. 3863, Art. 3891; No. 27, the Art. 4225, the Art. 4294, the Art. 4296) (further - the Law of the Russian Federation "About the organization of insurance case in the Russian Federation") and according to the solution of the Board of directors of the Bank of Russia (the minutes of the Board of directors of the Bank of Russia of February 20, 2017 No. 4) establish the list of the assets permitted for investment and the procedure for investment of own means (capital) for the insurer providing requirements to issuers of securities and (or) issues of securities depending on the assigned credit scores, inclusion in quoted lists by organizers of trade in the security market to structure of assets in which placement of part of own means (capital) of insurers is allowed (including the requirements providing most permitted percent of cost of each asset type or group of assets from the size of own means (capital) of the insurer or their part).

1. The total cost of assets in which own means (capital) of the insurer are invested shall be equal to the total size of own means (capital) of the insurer.

2. The asset cost in which own means (capital) of the insurer are invested is determined for calculating date in assessment by accounting data if other is not established by the legislation of the Russian Federation.

By bank inquiries of Russia or its territorial offices information on assets in which own means (capital) of the insurer are invested allowing to check fulfillment of requirements of this Instruction, is determined for the date specified in requests. If for confirmation of accomplishment of structural ratios on the specified request it is impossible to calculate any of the indicators necessary for such calculation, it is accepted equal to its size for the next date on which it is possible to calculate it.

3. Investment of own means (capital) of the insurer into asset (part of asset) in which means of insurance reserves are invested is not allowed.

4. Assets in which own means (capital) of the insurer are invested in the amount of specified in Item 5 of this Instruction, cannot be pledge subject.

5. Own means (capital) of the insurer (except the medical insurance companies performing only compulsory medical insurance) in the amount of the greatest of two indicators - the minimum size of the authorized capital established by the Law of the Russian Federation "About the organization of insurance case in the Russian Federation" or the normative size of margin of solvency calculated according to the procedure, No. 3743-U established by the Instruction of the Bank of Russia of July 28, 2015 "About procedure of payments by insurance company of normative ratio of own means (capital) and undertaken obligations", the registered Ministry of Justice of the Russian Federation on September 9, 2015 No. 38865, on March 2, 2017 No. 45826, on August 1, 2017 No. 47610 (further - the Instruction of the Bank of Russia No. 3743-U), - are invested in the asset types specified in Item 6 of this Instruction taking into account the requirements established in Item 7 of this Instruction.

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