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On approval of requirements for formation, method of calculating insurance reserves and their structure

Resolution of the Board of the National Bank of the Republic of Kazakhstan №13 dated January 31, 2019. Registered in the Ministry of Justice of the Republic of Kazakhstan on February 12, 2019, № 18290.

      Unofficial translation

      In accordance with the laws of the Republic of Kazakhstan dated December 18, 2000 "On Insurance Activities" and dated March 19, 2010 "On State Statistics", the Board of the National Bank of the Republic of Kazakhstan DECIDES:

      1. To approve the attached Requirements for formation, method of calculating insurance reserves and their structure (hereinafter-the Requirements).

      2. To recognize as invalid:

      1) the resolution of the Board of the National Bank of the Republic of Kazakhstan dated May 6, 2014 №76 "On approval of the Requirements for formation, method of calculating insurance reserves and their structure (registered in the Register of state registration of regulatory legal acts under № 9529, published on July 2, 2014 in the information and legal system "Adilet");

      2) paragraph 22 of the List of regulatory legal acts of the Republic of Kazakhstan on the issues of regulation of insurance activities, which are being amended, approved by the resolution of the Board of the National Bank of the Republic of Kazakhstan dated May 30, 2016 № 127 "On amendments to certain regulatory legal acts of the Republic of Kazakhstan on the issues of regulation of insurance activities" (registered in the Register of state registration of regulatory legal acts under № 14277, published on October 24, 2016 in the legal information system "Adilet").

      3. The Department for regulation of non-bank financial organizations (A. M. Kosherbayeva) in the manner established by the legislation of the Republic of Kazakhstan shall ensure:

      1) state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan together with the Legal department (N. V. Sarsenova);

      2) sending of this resolution in the Kazakh and Russian languages to the Republican state enterprise on the right of economic management "Republican Center for Legal Information" for official publication and inclusion to the Standard control bank of regulatory legal acts of the Republic of Kazakhstan within ten calendar days from the date of its state registration;

      3) placement of this resolution on the official Internet resource of the National Bank of the Republic of Kazakhstan after its official publication;

      4) submission of this resolution to the Legal department of information on implementation of measures, provided for in subparagraphs 2), 3) of this paragraph and paragraph 4 of this resolution within ten working days after its state registration.

      4. The Department for protection of rights of the consumers of financial services and external communications (A. L. Terentyev) shall ensure sending a copy of this resolution for official publication in periodicals within ten calendar days after its state registration.

      5. Control over execution of this resolution shall be assigned to the deputy Chairman of the National Bank of the Republic of Kazakhstan Zh. B. Kurmanov.

      6. This resolution shall be enforced upon expiration of ten calendar days after its first official publication.

      Footnote. Paragraph 6 is in the wording of the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 12.09.2019 № 157 (shall be enforced upon expiry of ten calendar days after its first official publication).

      Chairman of the
National Bank
D. Akishev

      "AGREED"

      Committee on statistics of the

      Ministry of National Economy of the

      Republic of Kazakhstan

      _____________________

      "___" _____________ 2019

  Approved
by the resolution of the
Board of the National bank
of the Republic of Kazakhstan
№ 13 dated January 31, 2019

Requirements for formation, method of calculating insurance reserves and their structure

Chapter 1. General provisions

      1. These Requirements for formation, method of calculating of insurance reserves and their structure (hereinafter – the Requirements) are developed in accordance with the Law of the Republic of Kazakhstan dated December 18, 2000 "On Insurance Activities" (hereinafter – the Law) and shall establish the requirements for formation, method of calculating of insurance reserves and their structure for obligatory and voluntary classes of insurance in branches "general insurance" and "life insurance".

      The requirements shall apply to insurance (reinsurance) companies, including Islamic insurance (reinsurance) organizations.

      2. The following definitions are used for the Requirements purposes:

      1) actuarial methods – economic and mathematical methods of calculations, used by the actuary in calculating insurance reserves;

      2) catastrophic risk – the risk of loss or adverse changes in the value of insurance liabilities as a result of significant uncertainty in the assumptions, used in pricing and formation of reserves in relation to extreme and exceptional cases;

      3) forecasted payments – obligations of the insurance (reinsurance) company, related to extension (re-certification) of the degree of loss of professional ability to work (hereinafter – the degree of LPA) of the beneficiary;

      4) calculation date – the date on which the insurance reserves are calculated;

      5) minimum deposit premium (deposit premium) – the amount of money that is payable to an insurance (reinsurance) company under an insurance (reinsurance) contract, the terms of which provide for their non-return;

      6) unearned insurance premium – a part of the insurance premium related to the remaining period of validity of insurance protection on the calculation date under the contract of insurance (reinsurance);

      7) indexation rate – a rate, increasing the amount of the insurance payment;

      8) presented expected cost – the expected (probable) cost of insurance premiums (insurance contributions) or insurance payments, or expenses calculated (discounted) taking into account the interest rate and the time period between the date of calculation and the date of receipt of the insurance premium (contributions) or the date of payment of insurance under the insurance (reinsurance) contract using tables, containing the probability of death, disability, disease and the values, calculated on their basis related to upcoming life expectancy of persons (hereinafter referred to as – tables of mortality, morbidity, and disability);

      9) losses incurred – the amount of payments made and declared, but not settled losses of the insurance (reinsurance) company;

      10) declared but not settled losses – requirement of the insurance (reinsurance) company on the occurrence of insurance case and (or) insurance event and (or) about making payment of the insurance benefit, declared by the insurer (beneficiary) in written form or in the manner prescribed by the laws of the Republic of Kazakhstan on compulsory types of insurance and (or) the contract of insurance (reinsurance) for which payments were not made or were not made in full;

      11) net-premium (net-contributions when paying by installments)- the amount of money that is payable to the insurance (reinsurance) company for its acceptance of obligations solely to make insurance payments without taking into account the coverage of other expenses of the insurance (reinsurance) company;

      12) reserve basis – a set of parameter values that affect the amount of insurance reserves under life insurance and annuity insurance contracts;

      13) expenses for the settlement of insurance losses – the amount of money necessary for insurance (reinsurance) company to pay for expert, consulting or other services related to assessment of the size and reduction of damage (harm) caused to the property interests of the insured arising from insurance cases;

      14) insurance event – an event that is likely to be recognized as an insurance event in the future in accordance with the laws of the Republic of Kazakhstan on compulsory types of insurance and (or) an insurance (reinsurance) contract);

      15) insurance reserves – liabilities of an insurance (reinsurance) company under insurance (reinsurance) contracts, estimated on the basis of actuarial calculations in accordance with the Requirements;

      16) the reinsurer's share in insurance reserves – part of the reinsurer's obligations under the insurance (reinsurance) contract on the date of calculation;

      17) insurance premium – an insurance premium under an insurance (reinsurance) contract recognized in accounting as income;

      18) net insurance premium- an insurance premium without taking into account the reinsurer's share;

      19) tariff basis – a set of parameter values, affecting the amount of insurance rates under life insurance and annuity insurance contracts.

Chapter 2. Requirements to information, necessary for calculating insurance reserves

      3. Insurance reserves are formed by an insurance (reinsurance) company separately for each contract of insurance (reinsurance) and (or) for each class of insurance, and (or) for each declared but not settled loss, depending on the type of insurance reserve provided for in paragraph 5 of the Requirements. Calculation of insurance reserves are made taking into account the volume of obligations, accepted by an insurance (reinsurance) company for all concluded insurance (reinsurance) contracts, regardless of the subsequent reinsurance of risks.

      The actuary carries out calculation of insurance reserves on the basis of information contained in the following insurance journals, including but not limited to:

      a journal of accounting of existing insurance (reinsurance) contracts and contracts transferred to reinsurance in the branch "general insurance" in accordance with Appendix 1 to the Requirements;

      a journal of accounting losses (except for insurance payments made) in accordance with Appendix 2 to the Requirements;

      a journal of accounting insurance payments in accordance with Appendix 3 to the Requirements;

      a journal of accounting of existing insurance (reinsurance) contracts and contracts transferred to reinsurance in the branch "life insurance" in accordance with Appendix 4 to the Requirements;

      a journal of accounting of existing pension annuity contracts and other types of annuity insurance in accordance with Appendix 5 to the Requirements;

      a journal of accounting of existing annuity contracts, concluded in accordance with the Law of the Republic of Kazakhstan dated 7 February 2005 "On Compulsory Insurance of an Employee from Accidents upon Performance of Labour (Official) Duties by them" (hereinafter – the Law on compulsory insurance of an employee from accidents), in accordance with Appendix 6 to the Requirements;

      a journal of accounting of insurance (reinsurance) contracts and additional agreements to insurance (reinsurance) contracts that have entered into force over the past 12 (twelve) months, in the form according to Appendix 7 to the Requirements;

      a journal of accounting of the cost of forecasted payments according to Appendix 8 to the Requirements.

      Journals shall be kept by an insurance (reinsurance) company in electronic form and submitted to the National Bank of the Republic of Kazakhstan in electronic form via the automated information system of the National Bank of the Republic of Kazakhstan on a quarterly basis according to the appendices, specified in part two of this paragraph of the Requirements.

      4. The actuary, no later than the 10th (tenth) working day of the month following the reporting quarter, shall submit to the national Bank of the Republic of Kazakhstan, via the automated information system of the National Bank of the Republic of Kazakhstan, a justification for calculating insurance reserves in electronic form (Microsoft Word format), certified by an electronic digital signature of the actuary.

      The justification for calculating insurance reserves shall be drawn up in any form and contain:

      parameters of reserve basis with application of justifications for each parameter;

      justification for choosing the method of calculating the reserve of incurred, but not declared losses and the reserve of incurred, but not yet declared losses, with information on the number of loss periods taken into account in the calculation, the frequency of losses, choice of the loss development coefficient, smoothing of major losses, additional obligations, and calculation of the correction coefficient according to paragraph 16 of the Requirements;

      justification for the amounts of estimated expenses related to consideration and settlement of the amount of insurance payments for the declared requirements;

      justification for correction the loss, taken into account in calculation of the average (market average) value of paid claims according to paragraph 22 of the Requirements (if any in the reporting period);

      justification and calculation of the amount of obligations of an insurance (reinsurance) company, related to occurrence of additional risks on the date of calculation under concluded insurance (reinsurance) contracts, not provided for when forming insurance reserves;

      the results of the test for the adequacy of loss reserves, including a retrospective analysis based on data for the last 12 (twelve) months, separately for each class of insurance and for the insurance portfolio as a whole;

      conclusions about sufficiency (insufficiency) of insurance reserves and in case of insufficiency of insurance reserves, analysis of the causes of insufficiency;

      when forming a share of the reinsurer in insurance reserves under the reinsurance contracts providing for the transfer of more than 80 (eighty) percent of the insurance premium – the conclusion of the reinsurance division on availability of confirmation of the reinsurer (reinsurers), provided for in paragraph 53 of the Requirements, signed by an executive employee of the insurance (reinsurance) company, whose powers includes supervision of issues of the reinsurance division;

      other assumptions and presumptions, used by the actuary in calculating the insurance reserves and the reinsurer's share in the insurance reserves, and the information necessary to indicate in the justification, in the opinion of the actuary.

      Footnote. Paragraph 4 is in the wording of the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 12.09.2019 № 157 (shall be enforced upon expiry of ten calendar days after its first official publication).

Chapter 3. Structure of insurance reserves

      5. Insurance reserves required for formation of an insurance (reinsurance) company shall include:

      1) reserve of unearned premiums (hereinafter RUP) – a part of insurance premium (contributions) under the contract of insurance (reinsurance), related to the remaining period of validity of insurance protection (unearned premium) on the calculation date, intended for execution of obligations to provide for future payments, if they arise in the following reporting periods;

      2) reserve for non-occurred losses (hereinafter referred to as RNL) – obligations of an insurance (reinsurance) company on making insurance payments for insured cases that did not occur on the date of calculation;

      3) reserves of losses:

      the reserve of occurred but not declared losses (hereinafter RONL) – an assessment of obligations of insurance (reinsurance) company on making insurance payments, including expenses on settlement of losses arising from insured cases that occurred in the reporting or previous periods, on the fact of occurrence of which was not declared to the insurance (reinsurance) company in accordance with the Law of the Republic of Kazakhstan or the contract in the reporting or previous periods;

      reserve for declared but not settled losses (hereinafter – RDNL) – an assessment of unfulfilled or not fully fulfilled obligations of an insurance (reinsurance) company on making insurance payments at the reporting date, including expenses on settlement of losses.

      6. The total values of insurance reserves under the insurance contract when calculating the RUP, RNL, RDNL and when calculating the RONL for the insurance class, which have a negative value, shall take the zero value.

      Insurance (reinsurance) companies shall submit the following information to the national Bank of the Republic of Kazakhstan in electronic form via the automated information system of the National Bank of the Republic of Kazakhstan no later than the 10th (tenth) working day of the month following the reporting quarter:

      Calculation of the reserve for occurred, but not declared losses using the chain ladder method without adjustment for inflation, in the form according to Appendix 9 to the Requirements;

      Calculation of the reserve for occurred, but not declared losses using the chain ladder method, with adjustment for inflation, in the form according to Appendix 10 to the Requirements;

      Calculation of the reserve for occurred, but not declared losses using the Bornhuetter-Ferguson method, in the form according to Appendix 11 to the Requirements.

Chapter 4. Calculation of insurance reserves in the branch "general insurance"

      7. The RUP is calculated separately for each insurance contract.

      8. The proportion method is used for calculation the RUP value.

      9. The RUP using the proportion method is determined by summing up unearned premiums calculated for each contract.

      The unearned premium using the proportion method is determined by for each contract as the product of insurance premium under the contract by the ratio of the insurance protection period that did not expire on the reporting date (in days) to the insurance protection period (in days) from the date of recognition of the insurance premium in accounting as income until the end of the insurance protection period:


     


      where,

      IP-insurance premium;

      T1 - number of days during which the insurance protection is valid from the date of recognition of the insurance premium in accounting as income until the end of the insurance protection under the contract of insurance (reinsurance);

      T2 - number of days of insurance protection that has expired since recognition of the insurance premium in accounting as income before the calculation date (inclusive).

      When calculating prudential standards in accordance with the resolution of the Board of the National Bank of the Republic of Kazakhstan dated December 26, 2016 №304 "On establishing of normative values and methods for calculating prudential standards of an insurance (reinsurance) company and an insurance group and other mandatory norms and limits, list, forms, and deadlines for reporting on implementation of prudential standards by insurance (reinsurance) companies and insurance groups, the Rules for reporting on implementation of prudential standards by insurance (reinsurance) companies and insurance groups, requirements for shares (stakes in the charter capital) of legal entities, purchased by insurance (reinsurance) organizations, subsidiaries of insurance (reinsurance) companies or insurance holdings, a list of bonds of international financial organizations, purchased by insurance holdings, the minimum required rating for bonds, purchased by insurance holdings, and a list of rating agencies, as well as the list of financial instruments (excluding shares and participation stakes in the charter capital), purchased by insurance (reinsurance) companies" (registered in the Register of state registration of regulatory legal acts under № 14794) (hereinafter – resolution № 304), calculation of the RUP under the contract of compulsory insurance of an employee from accidents upon performance of labour (official) duties shall be carried out based on the size of the insurance premium, calculated in accordance with Article 17 of the Law on compulsory insurance of an employee from accidents.

      Footnote. Paragraph 9 is in the wording of the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 12.09.2019 № 157 (shall be enforced upon expiry of ten calendar days after its first official publication).

      10. Calculation of RONL shall be made separately for each class of insurance. The total amount of RONL shall be determined by summing up the RONL, calculated for all insurance classes.

      11. The RONL is carried out by the following actuarial methods:

      1) the chain ladder method, without adjustment for inflation in accordance with Calculation of a reserve of occurred, but not declared losses by the chain ladder method without adjustment for inflation according to Appendix 9 to the Requirements and with adjustment for inflation in accordance with the Calculation of a reserve of occurred, but not declared losses by the chain ladder method with adjustment for inflation in the form according to Appendix 10 to the Requirements.

      For the purposes of the Requirements, the chain ladder method refers to the method of allocating the insurer's obligations on making insurance payments for insurance events that occurred in the reporting period or in the periods preceding the reporting period.

      In the chain ladder method, distribution of the insurer's obligations is based on payments (paid losses) or losses incurred by the insurance (reinsurance) company.

      In the chain ladder method with adjustment for inflation, payments (paid losses) or losses incurred are increased by the inflation rate;

      2) Bornhuetter-Ferguson method in accordance with Calculation of the reserve for occurred, but not declared losses by the Bornhuetter-Ferguson method in the form according to Appendix 11 to the Requirements.

      The Bornhutter-Ferguson method is based on the chain ladder method, where the distribution of obligations is based on payments (paid losses) or losses incurred, and in determination of expected amount of future losses.

      The expected amount of future losses is equal to the product of the earned premium and the loss ratio, the amount of which is not less than the average value of the loss ratio for policies, calculated for the completed financial years preceding the loss periods taken into account by an insurance (reinsurance) company when distributing obligations according to Appendix 11 to the Requirements.

      Footnote. Paragraph 11 as amended by the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 12.09.2019 № 157 (shall be enforced upon expiry of ten calendar days after its first official publication).

      11-1. The loss ratio for policies is calculated as the ratio of the amount of losses incurred, including expenses on settlement of losses, under the contracts of insurance (reinsurance) that entered into force in the corresponding financial year, to the insurance premiums earned under the specified contracts of insurance (reinsurance).

      When calculating the loss ratio for policies, losses incurred, including expenses on settlement of loss, and earned insurance premiums are accounted for the completed financial years prior to the reporting date.

      When calculating the loss ratio for policies, the actuary, if necessary, makes adjustments to the loss under the insurance (reinsurance) contract, which is large, according to the methodology for determining major losses, developed by the actuary of the insurance (reinsurance) company and provided to the national Bank of the Republic of Kazakhstan in the manner and terms established by paragraph 15 of the Requirements.

      The Requirements are supplemented by paragraph 11-1 in accordance with the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 12.09.2019 № 157 (shall be enforced upon expiry of ten calendar days after its first official publication).

      12. If the actuary allocates the insurer's obligations based on the losses incurred when calculating the RONL using actuarial methods, the Table of accumulated losses of Calculation of the reserve of losses occurred, but not declared using the chain ladder method without adjustment for inflation in accordance with Appendix 9 to the Requirements shall be constructed by summing up the declared but unsettled losses and accumulated amounts of payments (paid losses) at the end of each period of losses occurrence, used to construct the triangle of accumulated losses, according to the Table of accumulated losses based on losses incurred of the Distribution of obligations of an insurance (reinsurance) company based on losses incurred in accordance with Appendix 12 to the Requirements.

      If the actuary allocates the insurer's obligations based on the losses incurred when calculating the RONL using actuarial methods, the Table of accumulated losses with adjustment for inflation for the past periods of Calculation of the reserve for losses occurred, but not declared using the chain ladder method with adjustment for inflation in accordance with Appendix 10 to the Requirements is constructed by summing up the declared but unsettled losses and accumulated amounts of payments (paid losses) at the end of each period of losses occurrence, used to construct the triangle of accumulated losses, according to the Table of accumulated losses based on losses incurred of the Distribution of obligations of an insurance (reinsurance) company based on losses incurred in accordance with Appendix 12 to the Requirements.

      If the actuary allocates the insurer's obligations based on the losses incurred when calculating the RONL using actuarial methods, the Table of accumulated losses of Calculation of the reserve of losses occurred but not declared using the Bornhuetter-Ferguson method in the form according to Appendix 11 to the Requirements shall be constructed by summing up the declared, but not settled losses and accumulated amounts of payments (paid losses) at the end of each period of losses occurrence, used to construct the triangle of accumulated losses, according to the Table of accumulated losses based on losses incurred of the Distribution of obligations of an insurance (reinsurance) company based on losses incurred in accordance with Appendix 12 to the Requirements.

      13. If, on the reporting date, the value of the RONL assumes a decrease of more than 30 (thirty) percent compared to the previous reporting date, the actuarial method specified in paragraph 11 of the Requirements, which provides for the largest amount of the RONL, shall be used to calculate the RONL.

      14. RONL for the class of compulsory insurance of an employee from accidents upon performance of their labour (official) duties consists of two parts and is determined by the following formula:

      RONL = RONYL + RONFL, where:

      RONYL - a reserve of losses that have occurred, but have not yet been declared, which is calculated using the actuarial methods specified in paragraph 11 of the Requirements. In the case of carrying out by the insurance (reinsurance) company of the activity by class of compulsory insurance of an employee from accidents upon performance of labour (official) duties at least three (3) years, or insufficient data to calculate RONYL by the methods, specified in paragraph 11 of the Requirements, the RONYL is not less than 5 (five) percent of the amount of the insurance premium accrued under the contracts of insurance (reinsurance) and additional agreements to the contracts of insurance (reinsurance) on this class, which entered into force over the last twelve months, preceding the calculation date.

      If the actuary allocates the insurer's obligations based on the losses incurred when calculating the RONYL using actuarial methods, the Table of accumulated losses of Calculation of the reserve of losses that occurred but not declared using the chain ladder method without adjustment for inflation in the form according to Appendix 9 to the Requirements shall be constructed by summing up the declared but not settled losses and accumulated amounts of payments (paid losses) at the end of each period of loss occurrence, used to construct the triangle of accumulated losses, according to the Table of accumulated losses based on losses incurred of the Distribution of obligations of an insurance (reinsurance) company based on losses incurred in accordance with Appendix 12 to the Requirements.

      If the actuary allocates the insurer's obligations based on the losses incurred when calculating the RONYL using actuarial methods, the Table of accumulated losses with adjustment for inflation for the past periods of Calculation of the reserve of losses that occurred but not declared using the chain ladder method with adjustment for inflation in accordance with Appendix 10 to the Requirements shall be constructed by summing up the declared but not settled losses and accumulated amounts of payments (paid losses) at the end of each period of losses used to construct the triangle of accumulated losses, according to the Table of accumulated losses based on losses incurred of the Distribution of obligations of an insurance (reinsurance) company based on losses incurred in accordance with Appendix 12 to the Requirements.

      If the actuary allocates the insurer's obligations based on the losses incurred when calculating the RONYL using actuarial methods, the Table of accumulated losses of Calculation of the reserve of losses that occurred but not declared using the Bornhuetter-Ferguson method in accordance with Appendix 11 to the Requirements shall be constructed by summing up the declared but not settled losses and accumulated amounts of payments (paid losses) at the end of each period of loss used to construct the triangle of accumulated losses, according to the Table of accumulated losses based on losses incurred of the Distribution of obligations of an insurance (reinsurance) organization based on losses incurred in accordance with Appendix 12 to the Requirements;

      RONFL- reserve of losses occurred, but not fully declared, which is calculated by the beneficiary, for which the insurance payment was made in connection with establishment of the degree of LPA.

      RONFL is formed for the purpose of assessment of the expected obligations, related to extension (re-certification) of the degree of LPA, adopted by an insurance (reinsurance) company under the contracts of insurance (reinsurance).

      RONFL is equal to the sum of the forecasted payments associated with extension (re-certification) of the degree of LPA, determined individually for each beneficiary, whom the degree of LPA is established or by whom re-extension (re-certification) of the degree of LPA is expected.

      Calculation of RONFL is carried out in accordance with the Rules of calculation of annuity payments under the annuity contract and the requirements to the annuity contract and permissible level of the insurer's costs for business on the concluded contracts of annuity, approved by the resolution of the Board of Agency of Republic of Kazakhstan on regulation and supervision of financial market and financial organizations dated March 1, 2010 № 28, registered in the Register of state registration of regulatory legal acts under № 6156.

      For the purpose of assessing the forecasted payments for each beneficiary, extension of the period for establishing the degree of LPA is carried out until the retirement age established by the Law of the Republic of Kazakhstan dated June 21, 2013 "On pension provision in the Republic of Kazakhstan", with a probability of 100 (one hundred) percent.

      The actuary if necessary, excludes from calculation of RONFL the estimated amount of forecasted payments by the beneficiary if the insurance (reinsurance) company has not received an application on conclusion of the annuity contract in connection with re-extension (re-certification) of the degree of LPA of the beneficiary within 2 (two) years after expiry of the contract annuity, according to which annuity payments in favor of the beneficiary were carried out.

      In case of acceptance and (or) transfer to reinsurance of obligations under insurance contracts, concluded in accordance with the Law on compulsory insurance of an employee from accidents, the reinsurer shall submit the parameters of the reserve basis, used in calculation of the RONFL to the reinsurer-resident of the Republic of Kazakhstan by specifying such parameters in the reinsurance contract and (or) the contract concluded through intermediaries.

      Parameter values of the reserve basis used by the reinsurer-resident of the Republic of Kazakhstan in calculation of RONFL coincide with parameter values of the reserve basis, used by the reinsurer in calculation of RONFL, except in the case when the reserve basis of the reinsurer-resident of the Republic of Kazakhstan is more conservative than a reserve basis of the reinsurer.

      15. In order to equalize the factors of losses development when calculating the RONL and (or) RONYL by actuarial methods, the actuary, if necessary, makes adjustment of the loss under the insurance (reinsurance) contract, which is large, according to the methodology for determining major losses, developed by the actuary of an insurance (reinsurance) company.

      If the actuary makes adjustments of the loss, the methodology for determining major losses shall be submitted by the actuary to the National Bank of the Republic of Kazakhstan within the term, established by paragraph 4 of the Requirements.

      If changes and (or) additions are made to the methodology for determining major losses, this methodology with changes and (or) additions shall be submitted to the National Bank of the Republic of Kazakhstan within 5 (five) working days from the date of making these changes and (or) additions to it by the actuary.

      16. Under the contracts of voluntary insurance, the insured object of which is the property interest of the employee, whose life and health were injured as a result of an accident that led to establishment of the degree of LPA to him/her, the actuary shall carry out the increase RODL in the amount of obligations of an insurance (reinsurance) company, connected with extension (re-certification) of the degree of disability, deterioration of the health of the beneficiary (hereinafter – additional obligations).

      Total amount of additional obligations is equal to the amount of forecasted payments, determined individually for each beneficiary whom the degree of LPA is established or who is expected to re-extension (re-certification) of the degree of LPA, multiplied by the correction coefficient, calculated on the basis of statistical data of the insurance (reinsurance) company, using the probability of prolongation for a similar group of losses.

      17. The actuary shall make the decision on determining the amount of RONL separately for each insurance class and RONYL for class of compulsory insurance of an employee from accidents upon performance of labour (official) duties based on actuarial methods of calculation, provided by paragraph 11 of the Requirements.

      18. In the case of implementation of activities by class of insurance by an insurance (reinsurance) company, except for compulsory insurance of an employee from accidents upon performance of labour (official) duties, less than 3 (three) years or insufficient data for calculation of RONL using actuarial methods, specified in paragraph 11 of the Requirements, the RONL is not less than 5 (five) percent of the amount of the insurance premium, accrued under the contracts of insurance (reinsurance) and additional agreements to the contracts of insurance (reinsurance), that entered into force for the last 12 (twelve) months, preceding the calculation date.

      19. For the class of mortgage insurance, the value of the RONL is at least 60 (sixty) percent of the amount of the insurance premium, accrued under the contracts of insurance (reinsurance) and additional agreements to the contracts of insurance (reinsurance) that entered into force for the last 12 (twelve) months preceding the calculation date.

      20. Declared, but not settled loss is registered in the journal of accounting of losses (with the exception of the made insurance payments) from the date of statement of the insured (the beneficiary) on occurrence of an insured event and (or) insured case and (or) on making the insurance payment in written form or in the manner prescribed by the laws of the Republic of Kazakhstan on compulsory types of insurance and (or) by the contract.

      The reinsurer (assignor) shall notify the reinsurer on the occurrence of an insured event and (or) insured case within 3 (three) working days from the date of receipt of such a statement by the reinsurer (assignor), unless the reinsurance contract provides otherwise.

      21. The RDNL is formed separately for each declared, but not settled loss, from the date of receipt of statement of the insured (beneficiary) on occurrence of an insured event and (or) an insured event and (or) on making an insurance payment, depending on which date comes earlier, until the date of making an insurance payment or making a decision to refuse to make an insurance payment by the insurer, or a written refusal of the insured to receive an insurance payment, depending on which date comes earlier, but not more than 3 (three) years.

      22. The RDNL is formed in the amount of the declared loss.

      If the insured (beneficiary) and an insurance (reinsurance) company do not have sufficient information about the amount of the loss, the RDNL shall be formed in an amount sufficient for the insurance payment, but not less than the average value of paid claims made for a similar group of insurance cases for the previous financial year or the previous 2 (two) financial years, depending on which of the values is larger.

      If there is no sufficient information about paid claims made for a similar group of insurance cases for the previous financial year or the previous 2 (two) financial years, the RDNL shall be formed in the amount of at least the average market value of paid claims made for the insurance class for the previous financial year or the previous 2 (two) financial years, depending on which of the values is larger.

      Actuary, if necessary, shall make adjustment of the loss, taken into account in calculation of the average (average market) value of paid claims, which is larger, justification for implementation of which shall be submitted by the actuary in accordance with paragraph 4 of the Requirements.

      The size of the RDNL, formed due to the lack of sufficient information about the amount of the loss, shall be recalculated at the end of each financial year based on their size, calculated in accordance with parts two and three of this paragraph.

      If there are documents, confirming the amount of loss, or after the insurance (reinsurance) company receives these documents, the RDNL shall be formed in the amount of the declared and documentally confirmed loss.

      The total amount of the RDNL shall be determined by summing up the RDNL generated for all declared but not settled losses.

      23. The amount of the RDNL shall be increased by the amount of estimated expenses directly related to consideration and settlement of the amount of insurance payments for the declared claims, calculated by the actuary.

      24. If necessary, the calculated amount of the RDNL shall be reduced by the amount of overdue debt of the insured (reinsurer) for payment of an insurance premium (next insurance premium) of an insurance (reinsurance) company on the date of calculation (including the amount of debt under the annuity insurance contract).

      Footnote. Paragraph 24 is in the wording of the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 12.09.2019 № 157 (shall be enforced upon expiry of ten calendar days after its first official publication).

      25. If judicial proceedings on the issue of insurance payments has started in respect of an insurance (reinsurance) company, the RDNL shall be formed in accordance with the procedure established in paragraph 22 of the Requirements, in the period from the date of commencement of judicial proceedings to the date of entry into force of the court decision on the issue of insurance payments, but not earlier than the date of insurance payments.

      26. The actuary increases the amount of insurance reserves by the amount of obligations of an insurance (reinsurance) company, related to occurrence of additional risks under insurance (reinsurance) contracts on the date of calculation, that are not provided for when forming insurance reserves.

Chapter 5. Calculation of insurance reserves in the branch "life insurance"

      27. Calculation of insurance reserves of an insurance (reinsurance) company, carrying out insurance activities in the branch "life insurance" shall be carried out using actuarial methods.

      28. Calculation of insurance reserves of an insurance (reinsurance) company, carrying out insurance activities in the branch "life insurance" shall be performed by the actuary separately for each contract of insurance (reinsurance), except for insurance contracts, providing for the condition of the insured's participation in investments, as well as separately by types of contracts of:

      1) non-accumulative life insurance (reinsurance);

      2) accumulative life insurance (reinsurance);

      3) annuity, for which the terms of beginning of insurance payments occur after the settlement date;

      4) annuity, for which the terms of beginning of insurance payments occurred before the settlement date.

      29. Calculation of insurance reserves of insurance (reinsurance) company, carrying out insurance activity in the branch "life insurance", according to the class of accident insurance, the class of health insurance, and the class of compulsory insurance of an employee from accidents upon performance of labour (official) duties shall be carried out by the actuary in accordance with paragraphs 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 and 26 of the Requirements.

      30. Calculation of insurance reserves shall be carried out on the basis of a reserve basis, taking into account the terms of insurance contracts.

      31. The reserve basis is established taking into account differences in the conditions of the contract of insurance (reinsurance), in particular, depending on the list of insurance cases, the validity period, the procedure and terms of payment of insurance premiums, the terms of insurance payments, as well as other factors that objectively affect the degree of risk accepted for insurance.

      32. The reserve basis includes the following parameters:

      1) effective annual interest rate;

      2) tables of mortality, morbidity and disability used by an insurance (reinsurance) company for calculation of insurance reserves;

      3) absolute value or share of the insurer's future expenses for servicing insurance contracts (future expenses for conducting business), as well as the share of expenses for making insurance payments as a percentage of the insured sum (hereinafter-expenses indicators);

      4) indexation rates of insurance payments.

      33. The values of the reserve basis parameters coincide with the values of the tariff basis parameters, except for the case when the reserve basis is more conservative than the tariff basis.

      If the reserve basis is more conservative than the tariff basis:

      the effective annual interest rate of the reserve basis is less than the effective annual interest rate of the tariff basis;

      the coefficients of the table of mortality, morbidity, disability under life insurance contracts of the reserve basis exceeds the coefficients of the corresponding tables of tariff basis for all ages;

      the coefficients of the table of mortality, morbidity, and disability for annuity insurance contracts of the reserve basis are less than the coefficients of the corresponding tables of the tariff basis for all ages;

      the rates of administrative expenses of the reserve basis exceed the corresponding rates of the tariff basis;

      the reserve basis indexation rate is higher than the tariff basis indexation rate.

      This paragraph does not apply to:

      annuity contracts, concluded in accordance with the Law on compulsory insurance of an employee from accidents before January 1, 2011;

      other contracts in the branch "life insurance" concluded before January 1, 2015

      34. When calculating insurance reserves, the actuary under all existing contracts uses an effective annual interest rate of not more than:

      1) 4 (four) percent if the insurance currency is a foreign currency;

      2) 6 (six) percent if the insurance currency is the national currency.

      35. When calculating insurance reserves, the actuary uses the indexation rate if the insurance (reinsurance) contract provides for indexation.

      For pension annuity contracts, the actuary uses an indexation rate of at least 5 (five) percent.

      36. Selection of tables of mortality, morbidity, and disability shall be made taking into account the specifics of the insurance risk under the insurance contract, based on the characteristics of the insured and (or) the beneficiary.

      When calculating the RNL under pension annuity contracts:

      concluded before July 1, 2017, indicators that do not exceed the death rate are used for calculating insurance payments under the pension annuity contract in accordance with Appendix 13 to the Requirements;

      concluded after July 1,2017, indicators that do not exceed mortality rates are used for calculating insurance payments under the pension annuity contract, specified in Appendix 2 to the Methodology for calculating the insurance premium and insurance payment under the pension annuity contract, approved by the resolution of the Board of the National Bank of the Republic of Kazakhstan dated October 20, 2015 № 194 "On approval of the standard pension annuity contract, establishing the Methodology for calculating the insurance premium and insurance payment from the insurance company under the pension annuity contract, acceptable level of expenses of the insurance company for conducting business under the concluded pension annuity contracts, as well as the indexation rate of insurance payment", registered in the Register of state registration of regulatory legal acts under № 12318.

      37. The RNL for the contracts of life insurance (reinsurance) shall be calculated as the amount of reserves for non occurred losses for all existing contracts of life insurance (reinsurance) on the date of calculation.

      38. The RNL on a separate contract of life insurance (reinsurance), except for the insurance contract, providing for the condition of the insured's participation in investments, is equal to the maximum value of the following two values:

      1) RNL 1 = PevP + PevAP + PevOE - PevIC,

      where:

      PevP – presented expected value of insurance payments stipulated by the terms of the insurance (reinsurance) contract;

      PevAP – presented expected value of expenses of an insurance (reinsurance) company that are directly related to consideration, settlement, and determination of the amount of insurance payments;

      PevOE – presented expected value of operating expenses of an insurance (reinsurance) company related to conducting of the business;

      PevIC – presented expected value of insurance contributions (for a one-time payment-the insurance premium), which are subject to receipt by the insurance (reinsurance) company after the date of calculation;

      2) RNL 1 = PevP-PevINC

      where:

      PevP – presented expected value of insurance payments stipulated by the terms of the contract of insurance (reinsurance) only when an insurance event occurs (excluding insurance payments made after the period established by the insurance contract);

      PevINP – presented expected value of insurance net of contributions (for a lump sum payment – insurance net premium), which subject to receipt by an insurance (reinsurance) company after calculation date for adoption of its obligations solely by making insurance payments related to occurrence of the insured case (excluding insurance payments made upon expiry of the period, established by the insurance contract).

      39. When calculating the presented expected value, the reserve basis parameters, specified in paragraph 32 of the Requirements shall be used.

      40. The RNL for annuity contracts is calculated as the amount of the reserve for non occurred losses for all acting annuity contracts on the date of calculation.

      41. The RNL for a separate annuity contract is equal to the following value:

      RNL = PevP + PevOE - PevIC,

      where:

      PevP – presented expected value of insurance payments stipulated by the terms of the annuity contract;

      PevOE – presented expected value of operating expenses of an insurance (reinsurance) company, related to conducting business under an annuity contract;

      PevIC – presented expected value of insurance contributions (for a lump sum payment-the insurance premium), which are subject to receipt by an insurance (reinsurance) company after the date of calculation. For an annuity contract, on which the start date of insurance payments occurred before the calculation date, the PevIC is zero.

      42. In increasing of the amount of regular insurance payments under the annuity contracts, the RNL is determined:

      during the period of insurance payments - in accordance with paragraph 41 of the Requirements. Calculation of the presented expected value of insurance payments is carried out taking into account the increase in the amount of insurance payments made;

      during the accumulation period - in accordance with paragraph 41 of the Requirements, taking into account the increase in the amount of insurance payments under the annuity contract at the expense of additional incomes of an insurance (reinsurance) company.

      43. When calculating the presented expected value, the reserve basis parameters specified in paragraph 32 of the Requirements shall be used.

      44. The RONL for non-accumulative life insurance (reinsurance) contracts is calculated by the actuary in accordance with paragraphs 10, 11, 12, 13, 14, 17, 18, 19 and 26 of the Requirements.

      45. The RONL for annuity contracts, as well as for accumulative life insurance (reinsurance) contracts, is zero.

      46. The RDNL for life insurance (reinsurance) contracts is calculated by the actuary in accordance with paragraphs 20, 21, 22, 23, 24 and 25 of the Requirements.

      47. The RDNL for annuity contracts is zero.

Chapter 6. Share of the reinsurer in the insurance reserves

      Paragraph 1. The branch "general insurance"

      48. The share of the reinsurer in the RNL is calculated separately for each insurance (reinsurance) contract.

      49. For proportional reinsurance contracts, the share of the reinsurer in the RNL is determined for each insurance (reinsurance) contract as the product of the coefficient and the RNL under the insurance (reinsurance) contract at the reporting date.

      The share of the reinsurer in the RNL = bRE RNL, where:

      the coefficient bRE is equal to the ratio of the insurance premium under the reinsurance contract to the insurance premium under the insurance contract.

      When calculating prudential standards in accordance with resolution № 304 in the coefficient bRE, the insurance premium under the reinsurance contract is taken into account, except for the commission fee to the assignor, the insurance broker under the contract of reinsurance (insurance) and other reimbursements, payments to insurance intermediaries and other persons from the reinsurer that are not related to insurance protection on risks, transferred to reinsurance.

      The amount of the commission remuneration of the insurance broker also includes the difference between the insurance premium, accepted by the insurance broker from the reinsurer under the insurance contract and the insurance premium, transferred to the reinsurer under the reinsurance contract.

      The reinsurer's share in the RNL under non-proportional reinsurance contracts is calculated according to the terms of the reinsurance contract.

      When calculating prudential standards in accordance with resolution № 304, the reinsurer's share in the RNL under non-proportional reinsurance contracts is calculated according to the terms of the reinsurance contract or equal to 0 (zero).

      Footnote. Paragraph 49 is in the wording of the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 12.09.2019 № 157 (shall be enforced upon expiry of ten calendar days after its first official publication).

      49-1. When calculating prudential standards in accordance with resolution № 304, the share of the reinsurer in RNL under the reinsurance contract, the terms of which provide for a minimum deposit premium (or deposit premium) (hereinafter MDP), subject to recalculation (adjustment) upon expiration of the reinsurance contract at the appropriate rate of recalculation, shall be determined based on the amount of insurance premium (non-MDP) accrued to the reinsurer at the specified rate of recalculation, or equal to 0 (zero).

      When calculating prudential standards in accordance with resolution № 304 the share of reinsurers in RNL under the reinsurance contract, the terms of which provide for a MDP is not subject to recalculation (adjustment) upon expiration of the reinsurance contract, and (or) the condition that in case of early termination of the contract of reinsurance (the cover notes), part of the premium is nonrefundable, is equal to 0 (zero) in the amount not subject to repayment at the reporting date.

      The Requirements are supplemented by paragraph 49-1 in accordance with the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 12.09.2019 № 157 (shall be enforced upon expiry of ten calendar days after its first official publication).

      50. The share of the reinsurer in RONL is determined by an actuary separately for each insurance class as the difference between the RONL subject to the reinsurer's share and RONL excluding reinsurer's share, calculated in accordance with paragraphs 10, 11, 12, 13, 14, 15, 16, 17, 18, 19 and 26 of the Requirements.

      The share of the reinsurer in the value of forecasted payments, calculated in accordance with paragraph 14 of the Requirements is determined by the actuary separately for each beneficiary in accordance with the terms of the reinsurance contract.

      51. The calculation method selected for calculating the RONL taking into account the reinsurer's share, using coefficients of the losses development, used for calculating the RONL taking into account the reinsurer's share, is used for calculation the RONL without taking into account the reinsurer's share.

      In case of calculation of the RONL in accordance with paragraph 18 of the Requirements, the share of the reinsurer in the RONL is equal to the product of the interest rate, used in calculation of the RONL taking into account the share of the reinsurer in accordance with paragraph 18 of the Requirements and reinsurance premium, accrued for insurance contracts and additional agreements to the insurance contracts, transferred in reinsurance and entered into force for the last 12 (twelve) months preceding the date of calculation.

      52. The reinsurer's share in the RDNL is calculated based on the amount of losses that are subject to compensation from the reinsurance company, according to the terms of the reinsurance contract.

      53. Under the contracts of reinsurance (additional agreements), the reinsurer's share in insurance reserves is equal to 0 (zero), except for the cases when the insurance (reinsurance) company has a confirmation of the reinsurer (reinsurers) in written form about their acceptance of reinsurance risks (acceptance), indicating all conditions of reinsurance (including the amount of the insurance premium accepted by the reinsurer, obligations under the reinsurance contract, the liability limit, the assignor's commission, the commission of an insurance broker).

      As confirmation of the reinsurer (reinsurers) about the acceptance by him/her (them) of risks for reinsurance (acceptance) before receiving the reinsurance contract, a reinsurance covernote or reinsurance slip with a subscription list, complying with the requirements of the regulatory legal act of the authorized body, determining the conditions and procedure for carrying out activities of the insurance broker in accordance with paragraph 9 of Article 17 of the Law is also accepted.

      If the insurance (reinsurance) company has the confirmation of the reinsurer (reinsurers) provided for by this paragraph, the reinsurer's share in the following insurance reserves, if necessary, is formed in accordance with the following conditions:

      in the RNL:

      the size of the insurance premium under the contract of optional reinsurance at the moment of transfer of insurance risk does not exceed the amount of the premium under the insurance contract, except for the case of exceeding as the result of currency fluctuations, performance of an obligation under the contract of reinsurance;

      the contract of reinsurance does not provide for the transfer of less than 10 (ten) percent of the liability and more than 50 (fifty) percent of the insurance premium;

      the contract of insurance does not contain a condition on the receipt by an affiliate of the reinsurer and (or) an affiliate of the insurer, except for the reinsurer and the insured, a part of the insurance premium, profit, and (or) a positive difference between the reinsurer's income and expenses under the contract or group of reinsurance contracts;

      in insurance reserves:

      at the reporting date under the contract of optional reinsurance there is no accounts receivable, related to reimbursement of the insurance payment in the insurance case by the reinsurer, overdue for more than 90 (ninety) days from the date of billing the requirement to the reinsurer or insurance broker about compensation insurance payment by the reinsurer;

      the reinsurer is not registered in offshore zones;

      at the reporting date, the reinsurer is not included in the register of prohibited insurance (reinsurance) companies that are non-residents of the Republic of Kazakhstan.

      54. When calculating prudential standards in accordance with resolution № 304, the share of the reinsurer in insurance reserves under the contracts of reinsurance, providing for the transfer of all or part of the insurance risks to reinsurance under the contracts of compulsory insurance of civil-legal liability of vehicle owners is 0 (zero).

      The requirements of paragraph 53 of the Requirements do not apply to reinsurance contracts, providing for the transfer of catastrophic risks.

      Footnote. Paragraph 54 is in the wording of the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 12.09.2019 № 157 (shall be enforced upon expiry of ten calendar days after its first official publication).

Paragraph 2. Branch "life insurance"

      55. Calculation of the reinsurer's share in insurance reserves under non-accumulative contracts of life insurance (reinsurance) shall be carried out in accordance with paragraphs 48, 49, 50, 51, 52, 53 and 54 of the Requirements.

      56. The share of the reinsurer in the RNL under accumulative contracts of life insurance (reinsurance) and annuity insurance contracts shall be determined based on the share of liability under the insurance contract transferred to reinsurance, and is calculated in accordance with paragraphs 37, 38, 39 and 40 of the Requirements, or based on the amount of the insurance premium (insurance contributions) under the reinsurance contract.

      57. The share of the reinsurer in the RDNL under the contracts of accumulative life insurance (reinsurance) shall be determined in accordance with paragraph 52 of the Requirements.

  Appendix 1
  to the Requirements for formation,
  method of calculation of insurance
  reserves and their structure

Journal of accounting the existing contracts of insurance
(reinsurance) and contracts, transferred to reinsurance
in the branch "general insurance"
Reporting period: as of "___" "________________" 20__ year

      Index: FORMA-1

      Periodicity: quarterly

      Represents: insurance (reinsurance) company

      Where the form is submitted: National Bank of the Republic of Kazakhstan

      Submission date: quarterly, no later than the tenth working day of the month following the reporting quarter.

  Form

Insurance class

Type of insurance

Insurer

Residence status of the insurer

Business identification number and (or) individual identification number of the insurer

Reinsurer

Beneficiary

1

2

3

4

5

6

7

8









      continuation of the table:

Business identification number and (or) individual identification number of the beneficiary

Number of insurance objects

Number of the insurance contract (policy) and (or) additional agreement

Date of conclusion of the insurance contract and (or) additional agreement

The effective date of the insurance contract and (or) additional agreement

Expiration date of the insurance contract and (or) additional agreement

The effective date of the insurance protection

Expiration date of the insurance protection

9

10

11

12

13

14

15

16









      continuation of the table:

The amount of the insurance sum
(in tenge)

The amount of the insurance premium under the insurance contract
(in tenge)

Name of the insurance broker, agent (surname, name, patronymic
(if any)

The amount of commission remuneration
(in tenge)

Reserve of unearned premiums

Number of the reinsurance contract

The insured sum of the insurer - resident of the Republic of Kazakhstan
(in tenge)

The insured sum of the reinsurer – non- resident of the Republic of Kazakhstan (in tenge)

Reinsurance premium to a resident of the Republic of Kazakhstan under the contract of reinsurance
(in tenge)

17

18

19

20

21

22

23

24

25










      continuation of the table:

Reinsurance premium to a non-resident of the Republic of Kazakhstan under the contract of reinsurance (in tenge)

Date of conclusion of the reinsurance contract

The effective date of the reinsurance contract

Expiration date of the reinsurance contract

The effective date of the insurance protection under the reinsurance contract

Expiration date of the insurance protection under the reinsurance contract

26

27

28

29

30

31







      continuation of the table:

Type of reinsurance (optional and (or) obligatory),
Form of reinsurance (proportional and (or) disproportionate)

Name of the reinsurer

Rating of the reinsurer

Rating agency

Amount of commission from the reinsurer
(in tenge)

Commission remuneration of the insurance broker under the reinsurance contract

Reserve of unearned premiums of the reinsurer

in percentage

Sum (in tenge)

Name of the broker

32

33

34

35

36

37

38

39

40










      The first head or person, authorized to sign the report

      _______________________________________________________________ __________

      surname, name, patronymic (if any) (electronic digital signature)

      Phone number:_________________________

      Date of signing the report "___" __________ 20 ___ year

      Note: an explanation on completing the form for collecting administrative data is provided in the Appendix to this form.

  Appendix to the form
of accounting journal of existing
contract of insurance
(reinsurance) and contracts,
transferred to reinsurance,
in the branch "general insurance"

Explanation on filling out the form for collecting administrative data

Journal of accounting the existing contracts of insurance (reinsurance)
and contracts, transferred to reinsurance in the branch "general insurance"
Chapter 1. General provisions

      1. This explanation shall determine the unified requirements on filling out the form intended for collecting administrative data,

      "Journal of accounting the existing contracts of insurance (reinsurance) and contracts, transferred to reinsurance, in the branch “general insurance" (hereinafter-the Form).

      2. The form is developed in accordance with paragraph 2 of Article 74 of the Law of the Republic of Kazakhstan dated December 18, 2000 "On Insurance Activities "(hereinafter-the Law).

      3. The form is prepared quarterly by the insurance (reinsurance) company and is filled in as of the end of the reporting period. The data in the Form is specified in tenge.

      4. The form is signed by the first head or the person authorized to sign the report.

Chapter 2. Explanation for filling out the Form

      5. The Form indicates the existing insurance (reinsurance) contracts and all additional agreements concluded to them, if there are several additional agreements, information on each additional agreement is provided in a separate line.

      6. The name of the insurance class in column 2 of the Form is indicated in full in accordance with the name provided for in Article 6 of the Law and legislative acts of the Republic of Kazakhstan regulating obligatory types of insurance.

      7. Information on insurance (reinsurance) contracts is indicated without taking into account adjustments of additional agreements.

      8. If the contract of insurance is reinsured in several reinsurance companies, the information for each reinsurance contract shall be indicated in a separate line, while the information for the insurance contract, indicated in the columns 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15 and 16 of the Form is subject to be reflected in each line.

  Appendix 2
to the Requirements for formation,
method of calculating of insurance
reserves and their structure

Form for collecting administrative data
Journal of accounting losses (with the exception of the made insurance payments)
Reporting period: as of "___" "________________" 20__ year

      Index: FORMA-2

      Periodicity: quarterly

      Represents: insurance (reinsurance) company

      Where the form is submitted: National Bank of the Republic of Kazakhstan

      Submission date: quarterly, no later than the tenth working day of the month following the reporting quarter.

  Form

Insurance class

Type of insurance

Insurer

Business identification number and (or) individual identification number of the insurer

Reinsurer

Beneficiary

Business identification number and (or) individual identification number of the beneficiary

1

2

3

4

5

6

7

8









      continuation of the table:

Number of the contract (insurance policy)

The effective date of the insurance contract

Expiration date of the insurance contract

Start date of insurance protection

End date of insurance protection

Date of occurrence of an insurance event and (or) an insurance case

Date of notification to the insurer about the occurrence of an insurance event and (or) an insurance case

9

10

11

12

13

14

15








      continuation of the table:

Type of notification to the insurer about the occurrence of an insurance event and (or) an insurance case (primary and (or) repeated)
 

The amount of the declared loss
(in tenge)

Brief description of the insurance event and (or) the insurance case

The amount of the insurer's expenses for settlement of the loss
(in tenge)

The amount of the insurer's (reinsurer's) debt on payment of insurance premium (insurance contributions) tо an insurance (reinsurance) company as of the calculation date

The average value of settled payments made for a similar group of insurance cases (for the cases provided for in parts two and three of paragraph 22 of the Requirements)

16

17

18

19

20

21







      continuation of the table:

Date of the decision to refuse to make insurance payments by the insurer

Date of receipt of the court summons (notice) and (or) statement of claim

RDNL

Date of the court's decision/date of entry into force of the court's decision

The plaintiff's claims are satisfied with the court's decision (yes, no)

Name of the reinsurer

Number of the reinsurance contract

Type of reinsurance (optional and (or) obligatory),
Form of reinsurance (proportional and (or) disproportionate

The share of the reinsurer in the in RDNL
(in tenge)

22

23

24

25

26

27

28

29

30










      The first head or person, authorized to sign the report

      _______________________________________________________________ __________

      surname, name, patronymic (if any) (electronic digital signature)

      Phone number:_________________________

      Date of signing the report "___" __________ 20 ___ year

      Note: an explanation on completing the form for collecting administrative data is provided in the Appendix to this form.

  Appendix
to the form of the journal
for accounting losses (except for
made insurance payments)

Explanation for filling out the form for collecting administrative data
Journal of accounting losses (except for made insurance payments)
Chapter 1. General provisions

      1. This explanation shall determine the unified requirements on filling out the form intended for collecting administrative data,

      "Journal of accounting losses (except for made insurance payments" (hereinafter-the Form).

      2. The form is developed in accordance with paragraph 2 of Article 74 of the Law of the Republic of Kazakhstan dated December 18, 2000 "On Insurance Activities "(hereinafter-the Law).

      3. The form is prepared quarterly by the insurance (reinsurance) company and is filled in as of the end of the reporting period. The data in the Form is specified in tenge.

      4. The form is signed by the first head or the person authorized to sign the report.

Chapter 2. Explanation for filling out the Form

      5. If the insurance contract is reinsured in several reinsurance companies, the information for each reinsurance contract shall be indicated in a separate line, while the information for the insurance contract indicated in the columns 2, 3, 4, 5, 6, 7, 8, 9 and 10 of the Form subject to be reflected in each line.

      6. The name of the insurance class in column 2 of the Form is indicated in full in accordance with the name provided for in Article 6 of the Law and legislative acts of the Republic of Kazakhstan regulating obligatory types of insurance.

      7. Information on losses, settled in the form of refusal in making insurance payments is indicated for the last 12 (twelve) months preceding the reporting date.

      8. The losses declared in connection with extension (re-certification) of the degree of loss of professional ability to work, deterioration of the health of a beneficiary under the annuity contracts, concluded in accordance with Articles 19 and 23 of the Law of the Republic of Kazakhstan dated 7 February 2005 "On Compulsory Insurance of an Employee from Accidents upon Performance of Labour (Official) Duties by them", the date in column 14 of the Form shall be indicated according to the date of the accident, specified in the act on accident, upon the death or establishment of the degree of loss of professional ability to work as a result of labour injury or according to the date of conclusion of a healthcare organization, providing specialized medical, expert assistance in the field of professional pathology, upon establishing tо an employee of the degree of loss of professional ability to work as the result of revealing a professional disease.

      9. The information in column 16 of the Form is filled in according to the class of compulsory insurance of an employee from accidents upon performance of labour (official) duties.

      10. Column 18 of the Form indicates the name of the covered risk in accordance with the insurance (reinsurance) contract.

      11. Column 23 of the Form indicates information about the date of receipt of the court summons (notice) and (or) the statement of claim, depending on which of the documents will be received by the insurance (reinsurance) company earlier.

      12. Column 25 of the Form indicates information about the dates of the court decision and its entry into force or cancellation in the form of a chronology with the corresponding information next to each date.

  Appendix 3
to the Requirements for formation,
method of calculating insurance
reserves and their structure

      Footnote. Appendix 3 is in the wording of the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 12.09.2019 № 157 (shall be enforced upon expiry of ten calendar days after its first official publication).

      Form for collecting administrative data

      Journal of accounting insurance payments

      Reporting period: as of "___" "__________" 20 __ year

      Index: FORMA-3

      Periodicity: quarterly

      Represents: insurance (reinsurance) company

      Where the form is submitted: National Bank of the Republic of Kazakhstan

      Submission date: quarterly, no later than the tenth working day of the month folloing the reporting quarter.

  Form

Insurance class

Type of insurance

Insurer

Business identification number and (or) individual identification number of the insurer

Reinsurer

Beneficiary

Business identification number and (or) individual identification number of the beneficiary

1

2

3

4

5

6

7

8









      continuation of the table:

Degree of loss of the beneficiary's professional ability to work

Number of the contract (insurance policy)

Date of conclusion of the insurance contract

The effective date of the insurance contract

Expiration date of the insurance contract

Start date of insurance protection

End date of insurance protection

Date of occurrence of an insurance event and (or) an insurance case

Date of notification to the insurer about occurrence of an insurance event and (or) an insurance case

9

10

11

12

13

14

15

16

17










      continuation of the table:

Type of notification to the insurer about the occurrence of an insurance event and (or) an insurance case (primary and (or) repeated)

Amount of the insurer's expenses to settle the loss (in tenge)

Amount of payment
(in tenge)

Date of accrual of the insurance payment amount

The amount of compensation for the recourse claim (in tenge)

Date of reimbursement for subrogation claim

The amount of reimbursement transferred to reinsurer for recourse (in tenge)

18

19

20

21

22

23

24








      continuation of the table:

Date of accrual of compensation to the reinsurer for recourse

Name of the reinsurer

Number of the reinsurance contract

Type of reinsurance (optional and(or) obligatory), form of reinsurance (proportional and (or) disproportionate)

Reinsurer's share in payment
(in tenge)

Date of accrual of reinsurer's share in payment

25

26

27

28

29

30







      The first head or person, authorized to sign the report

      _______________________________________________________________ __________

      surname, name, patronymic (if any) (electronic digital signature)

      Phone number:_________________________

      Date of signing the report "___" __________ 20 ___ year

      Note: an explanation on completing the form for collecting administrative data is provided in the Appendix to this form.

  Appendix to the form
of a journal for accounting
insurance payments

Explanation on filling out the form for collecting administrative data
Journal of accounting insurance payments
Chapter 1. General provisions

      1. This explanation shall determine the unified requirements on filling out the form intended for collecting administrative data,

      "Journal of accounting insurance payments (hereinafter-the Form).

      2. The form is developed in accordance with paragraph 2 of Article 74 of the Law of the Republic of Kazakhstan dated December 18, 2000 "On Insurance Activities "(hereinafter-the Law).

      3. The form is prepared quarterly by the insurance (reinsurance) company and is filled in as of the end of the reporting period. The data in the Form is specified in tenge.

      4. The form is signed by the first head or the person authorized to sign the report.

Chapter 2. Explanation on filling out the Form

      5. Information in the Form is indicated for insurance payments made under insurance (reinsurance) contracts concluded in accordance with Article 23 of the Law of the Republic of Kazakhstan dated February 7, 2005 "On Compulsory Insurance of an Employee from Accidents upon Performance of Labour (Official) Duties by them" (hereinafter - the Law of CIA), from January 1, 2008 and under other insurance (reinsurance) contracts for at least 3 (three) years preceding the reporting date.

      6. Information on each insurance payment shall be indicated in a separate line.

      7. The name of the insurance class in column 2 of the Form is indicated in full in accordance with the name provided for in Article 6 of the Law and legislative acts of the Republic of Kazakhstan regulating obligatory types of insurance.

      8. If the insurance contract is reinsured in several reinsurance organizations, the information for each reinsurance contract shall be indicated in a separate line, while the information for the insurance contract indicated in the columns 2, 3, 4, 5, 6, 7, 8, 9, 10 and 11 of the Form, is subject to be reflected in each line.

      9. For payments made in connection with extension (re-certification) of the degree of loss of ability to work, deterioration of the health of a beneficiary under the annuity contracts, concluded in accordance with Articles 19 and 23 of the Law of CIA, the information in column 16 of the Form shall be indicated according to the date of the accident, specified in the act on accident, specified in the act on accident, upon the death or establishment of the degree of loss of professional ability to work as a result of labour injury or according to the date of conclusion of a healthcare organization, providing specialized medical, expert assistance in the field of professional pathology, upon establishing tо an employee of the degree of loss of professional ability to work as the result of revealing a professional disease.

      10. The information in columns 9 and 18 of the Form is filled in according to the class of compulsory insurance of an employee against accidents during execution of their labour (service) duties.

  Appendix 4
to the Requirements for formation,
method of calculating insurance
reserves and their structure

Form for collecting administrative data

Journal of accounting the existing contracts of insurance (reinsurance) and contracts, transferred to reinsurance in the branch

      "life insurance"

      Reporting period: as of "___" "________________" 20__ year

      Index: FORMA-4

      Periodicity: quarterly

      Represents: insurance (reinsurance) company

      Where the form is submitted: National Bank of the Republic of Kazakhstan

      Submission date: quarterly, no later than the tenth working day of the month following the reporting quarter.

  Form

Insurance class

Type of insurance

Insurer

Business identification number and (or) individual identification number of the insurer

Reinsurer

Number of the insured

Number of insurance contract (policy)

Date of birth of the insured person

Gender of the insured person

Date of conclusion of insurance contract and (or) additional agreement

1

2

3

4

5

6

7

8

9

10

11












      continuation of the table:

The effective date of the insurance contract and (or) additional agreement

Expiration date of the insurance contract and (or) additional agreement

The effective date of insurance protection under the insurance contract

Expiration date of insurance protection under the insurance contract

Availability of an additional agreement under the contract of insurance
(yes, no)

The amount of the insured sum
(in tenge)

The amount of the insurance premium under the insurance contract
(in tenge)

Periodicity of the insurance premium

Start date of payment of insurance contributions

End date of payment of insurance contributions

The amount of insurance payment (in tenge)

12

13

14

15

16

17

18

19

20

21

22












      continuation of the table:

Periodicity of insurance payments

Start date of insurance payments

End date of insurance payments

The rate of return of the reserve basis
(in percentage)

The amount of expenses from the insurance premium (in percentage)

The amount of expenses from the insurance payment (in percentage)

Name of the intermediary (surname, name, patronymic
(if any)

The amount of commission fee (in tenge)

RNL

Number of the reinsurance contract (reinsurance policy)

Insurance amount of the reinsurer-resident of the Republic of Kazakhstan
(in tenge)

23

24

25

26

27

28

29

30

31

32

33












      continuation of the table:

Insurance amount of a reinsure non-resident r of the Republic of Kazakhstan
(in tenge)

Reinsurance premium to a resident of the Republic of Kazakhstan under the contract
(in tenge)
 

Reinsurance premium to a non-resident of the Republic of Kazakhstan under the contract
(in tenge)

Date of conclusion of the reinsurance contract

The effective date of the reinsurance contract

Expiration date of the reinsurance contract

The effective date of insurance protection under the reinsurance contract

Expiration date of insurance protection under the reinsurance contract

34

35

36

37

38

39

40

41









      continuation of the table:

Type of reinsurance (optional and (or) obligatory), form of reinsurance (proportional and (or) disproportionate)

Name of the reinsurer

Rating of the reinsurer

Rating agency

The amount of commission from the reinsurer (in tenge)

Commission remuneration of the insurance broker under the reinsurance contract

Reinsurer's
RNL

in percentage

Amount (in tenge)

Name of the broker

42

43

44

45

46

47

48

49

50










      The first head or person, authorized to sign the report

      _______________________________________________________________ __________

      surname, name, patronymic (if any) (electronic digital signature)

      Phone number:_________________________

      Date of signing the report "___" __________ 20 ___ year

      Note: an explanation on completing the form for collecting administrative data is provided in the Appendix to this form.

  Appendix
to the form of journal
for accounting the existing contracts
of insurance (reinsurance) and
the contracts, transferred
in reinsurance, in the branch
"life insurance"

Explanation on filling out the form for collecting administrative data
Journal of accounting the existing contracts of insurance (reinsurance) and contracts,
transferred to reinsurance in the branch "life insurance"
Chapter 1. General provisions

      1. This explanation shall determine the unified requirements on filling out the form intended for collecting administrative data,

      "Journal of accounting the existing contracts of insurance (reinsurance) and contracts, transferred to reinsurance, in the branch "life insurance" (hereinafter-the Form).

      2. The form is developed in accordance with paragraph 2 of Article 74 of the Law of the Republic of Kazakhstan dated December 18, 2000 "On Insurance Activities "(hereinafter-the Law).

      3. The form is prepared quarterly by the insurance (reinsurance) company and is filled in as of the end of the reporting period. The data in the Form is specified in tenge.

      4. The form is signed by the first head or the person authorized to sign the report.

Chapter 2. Explanation on filling out the Form

      5. The Form indicates the existing contracts of insurance (reinsurance) and all additional agreements concluded to them, if there are several additional agreements, information on each additional agreement is provided in a separate line.

      6. If the number of annuities (beneficiaries) under the annuity agreement exceeds the number one, the values for each insured person shall be indicated separately.

      7. The name of the insurance class in column 2 of the Form is indicated in full in accordance with the name provided for in Article 6 of the Law and legislative acts of the Republic of Kazakhstan, regulating obligatory types of insurance.

      8. If the contract of insurance (reinsurance) is reinsured in several reinsurance organizations, the information for each reinsurance contract shall be indicated in a separate line, while the information for the insurance contract indicated in the columns 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14 and 15 of the Form, is subject to be reflected in each line.

  Appendix 5
to the Requirements for formation,
method of calculating insurance

reserves and their structure
Journal of accounting the existing contracts of pension annuity and other types of annuity insurance

      Reporting period: as of "___" ________________ 20__ year

      Index: FORMA-5

      Periodicity: quarterly

      Represents: insurance (reinsurance) company

      Where the form is submitted: National Bank of the Republic of Kazakhstan

      Submission date: quarterly, no later than the tenth working day of the month following the reporting quarter.

  Form

Insurance class

Insurer

Individual identification number of the insurer

Number of the insured

Number of insurance contract (insurance policy)

Date of birth of the insured person

Gender of the insured person

Date of conclusion of the insurance contract

The effective date of the insurance contract

1

2

3

4

5

6

7

8

9

10











      continuation of the table:

Expiration date of the insurance contract

The effective date of the insurance protection

Expiration date of the insurance protection

Availability of an additional agreement under the insurance contract (yes, no)

The amount of insurance premium under the insurance contract
(in tenge)

The amount of a lump sum payment under the annuity contract

The amount of annuity payment as of the report date
(in tenge)

Periodicity of insurance payments

Guaranteed period

Name of the intermediary (surname, name, patronymic
(if any)

11

12

13

14

15

16

17

18

19

20





















      continuation of the table:

The amount of commission remuneration
(in tenge)
 

The amount of expenses from the insurance premium
(in percentage)

The amount of expenses from the insurance payment
(in percentage)

The rate of return of the reserve basis
(in percentage)
 

The indexation rate of the reserve basis
(in percentage)

RNL

Number of the reinsurance contract (reinsurance policy)

Liability of the reinsurer-resident of the Republic of Kazakhstan (in tenge)

21

22

23

24

25

26

27

28









      continuation of the table:

Liability of a reinsurer non-resident of the Republic of Kazakhstan
(in tenge)
 

Reinsurance premium to a resident of the Republic of Kazakhstan under the contract
(in tenge)

Reinsurance premium to a non-resident of the Republic of Kazakhstan under the contract (in tenge)

Date of conclusion of the reinsurance contract

The effective date of the reinsurance contract

Expiration date of the reinsurance contract

The effective date of the insurance protection under the reinsurance contract

Expiration date of the insurance protection under the reinsurance contract

29

30

31

32

33

34

35

36









      continuation of the table:

Type of reinsurance (optional and (or) obligatory),
Form of reinsurance (proportional and (or) disproportionate)
 

Name of the reinsurer

Rating of the reinsurer

Rating agency

The amount of commission from the reinsurer

Commission remuneration of the insurance broker under the reinsurance contract

RNL of the reinsurer

in percentage

amount (in tenge)

name of the broker (surname, name, patronymic
(if any)

37

38

39

40

41

42

43

44

45










      The first head or person, authorized to sign the report

      _______________________________________________________________ __________

      surname, name, patronymic (if any) (electronic digital signature)

      Phone number:_________________________

      Date of signing the report "___" __________ 20 ___ year

      Note: an explanation on completing the form for collecting administrative data is provided in the Appendix to this form.

  Appendix
to the form of journal of
accounting the existing contracts
of pension annuity and other
types of annuity insurance

Explanation for filling out the form for collecting administrative data
Journal of accounting the existing pension annuity contracts and other types of annuity insurance
Chapter 1. General provisions

      1. This explanation shall determine the unified requirements on filling out the form intended for collecting administrative data,

      "Journal of accounting the existing contracts of pension annuity and other types of annuity insurance" (hereinafter-the Form).

      2. The form is developed in accordance with paragraph 2 of Article 74 of the Law of the Republic of Kazakhstan dated December 18, 2000 "On Insurance Activities "(hereinafter-the Law).

      3. The form is prepared quarterly by the insurance (reinsurance) company and is filled in as of the end of the reporting period. The data in the Form is specified in tenge.

      4. The form is signed by the first head or the person authorized to sign the report.

Chapter 2. Explanation for filling out the Form

      5. If there is an additional agreement to the contract of insurance (reinsurance), the information on the contract of insurance (reinsurance), corrected in accordance with the terms of the additional agreement shall be indicated in the Form.

      6. If the number of annuities under annuity contracts exceeds the number one, the values for each insured person shall be indicated separately.

      7. If the contract of insurance (reinsurance) is reinsured in several reinsurance organizations, the information for each reinsurance contract shall be indicated in a separate line.

      8. The name of the insurance class in column 2 of the Form is indicated in full in accordance with the name provided for in Article 6 of the Law and legislative acts of the Republic of Kazakhstan regulating obligatory types of insurance.

  Appendix 6
to the Requirements for formation,
method of calculating insurance
reserves and their structure

Form for collecting administrative data
Journal of accounting the existing annuity contracts concluded in accordance with the
Law of the Republic of Kazakhstan dated February 7, 2005 "On Compulsory Insurance of an
Employee from Accidents upon Performance of Labour (Official) Duties by them"
Reporting period: as of "___" "________________" 20__ year

      Index: FORMA-6

      Periodicity: quarterly

      Represents: insurance (reinsurance) company

      Where the form is submitted: National Bank of the Republic of Kazakhstan

      Submission date: quarterly, no later than the tenth working day of the month following the reporting quarter.

  Form

Insurer

Business identification number and (or) individual identification number of the insurer

Reinsurer

Number of the insured

Number of the contract (insurance policy)

Annuitant (surname, name, patronymic (if any)

Individual identification number of the annuitant

Date of birth of the annuitant

Gender of the annuitant

Date of the insured case

1

2

3

4

5

6

7

8

9

10

11












      continuation of the table:

Date of conclusion of the contract

The effective date of the insurance contract

Expiration date of the insurance contract

Start date of insurance payments

End date of insurance payments

Availability of an additional agreement under the insurance contract (yes, no)

Premium on the annuity (in tenge)

The amount of annuity payment at the report date (in tenge)

The amount of annuity payment at the start date of the annuity payment (in tenge)

Periodicity of annuity payments

The amount of expenses from the insurance premium (in percentage)

The amount of expenses from the insurance payment (in percentage)

12

13

14

15

16

17

18

19

20

21

22

23













      continuation of the table:

Rate of return of the reserve basis (in a percentage)

Indexation rate of the reserve basis (in percentage)

Degree of loss of ability to work
(in percentage)

Degree of disability

Name of the intermediary (surname, name, patronymic
(if any)

The amount of commission remuneration (in tenge)

RNL

24

25

26

27

28

29

30








      continuation of the table:

Number of the reinsurance contract (reinsurance policy)

Type of reinsurance (optional and (or) obligatory), Form of reinsurance (proportional and (or) disproportionate)

Name of the reinsurer

Share of the reinsurer in the annuity premium (in tenge)

31

32

33

34





      The first head or person, authorized to sign the report

      _______________________________________________________________ __________

      surname, name, patronymic (if any) (electronic digital signature)

      Phone number:_________________________

      Date of signing the report "___" __________ 20 ___ year

      Note: an explanation on completing the form for collecting administrative data is provided in the Appendix to this form.

  Appendix to the form
of the journal of accounting the existing
annuity contracts,
concluded in accordance with
Law of the Republic of Kazakhstan
dated February 7, 2005
  "On Compulsory Insurance
of an Employee from
Accidents upon Performance
of Labour (Official) Duties by them"

Explanation on filling out the form for collecting administrative data
Journal of accounting the existing annuity contracts concluded in accordance with the Law
of the Republic of Kazakhstan dated February 7, 2005 "On Compulsory Insurance of an Employee from
Accidents upon Performance of Labour (Official) Duties by them"
Chapter 1. General provisions

      1. This explanation shall determine the unified requirements on filling out the form intended for collecting administrative data, "Journal of accounting the existing contracts of annuity, concluded in accordance with the Law of the Republic of Kazakhstan dated February 7, 2005 "On Compulsory Insurance of an Employee from Accidents upon Performance of Labour (Official) Duties by them" (hereinafter – the Form).

      2. The form is developed in accordance with paragraph 2 of Article 74 of the Law of the Republic of Kazakhstan dated December 18, 2000 "On Insurance Activities "(hereinafter-the Law).

      3. The form is prepared quarterly by the insurance (reinsurance) company and is filled in as of the end of the reporting period. The data in the Form is specified in tenge.

      4. The form is signed by the first head or the person authorized to sign the report.

Chapter 2. Explanation for filling out the Form

      5. If there is an additional agreement to the contract of insurance (reinsurance), the information on the insurance (reinsurance) contract, corrected in accordance with the terms of the additional agreement shall be indicated in the Form.

      6. If the number of annuities under the annuity contracts exceeds the number one, the values for each insured person shall be indicated separately.

      7. Column 19 of the Form indicates the amount of the periodic annuity payment calculated by the annuity contract, taking into account the indexation for the current year

  Appendix 7
to the Requirements for formation,
method of calculating insurance
reserves and their structure

Form for collecting administrative data
Journal of accounting the contracts of insurance (reinsurance) and additional agreements
to insurance (reinsurance) contracts that have entered into force over the past 12 (twelve) months
Reporting period: as of "___" "________________" 20__ year

      Index: FORMA-7

      Periodicity: quarterly

      Represents: insurance (reinsurance) company

      Where the form is submitted: National Bank of the Republic of Kazakhstan

      Submission date: quarterly, no later than the tenth working day of the month following the reporting quarter.

  Form

Class of insurance

Insurer

Status of residence of the insurer

Business identification number and (or)
Individual identification number

Reinsurer

Beneficiary

Business identification number and (or)
Individual identification number of the beneficiary

Number of the contract (insurance policy) and (or) additional agreement

Date of conclusion of the insurance contract and (or) additional agreement

1

2

3

4

5

6

7

8

9

10











       continuation of the table:

The effective date of the insurance contract and (or) additional agreement

Expiration date of the insurance contract and (or) additional agreement
 

Start date of the insurance protection

End date of the insurance protection

The amount of the insurance sum under the insurance contract
(in tenge)

The amount of the insurance premium under the insurance contract
(in tenge)

Name of the insurance broker, agent (surname, name, patronymic
(if any)

The amount of commission remuneration
(in tenge)

Date of termination

The number of the contract of reinsurance

11

12

13

14

15

16

17

18

19

20











      continuation of the table:

The insured amount of the insurer - resident of the Republic of Kazakhstan
(in tenge)

The insured amount of the reinsurer – non resident of the Republic of Kazakhstan
(in tenge)

Reinsurance premium to a resident of the Republic of Kazakhstan under the contract of reinsurance
(in tenge)

Reinsurance premium to a non-resident of the Republic of Kazakhstan under the contract of reinsurance
(in tenge)

Date of conclusion of the reinsurance contract

The effective date of the reinsurance contract

Expiration date of the reinsurance contract

The effective date of the insurance protection under the reinsurance contract

21

22

23

24

25

26

27

28









       continuation of the table:

Type of reinsurance (optional and (or) obligatory), Form of reinsurance (proportional and (or) disproportionate

Name of the reinsurer

Rating of the reinsurer

Rating agency

Date of termination of the reinsurance contract

The amount of commission from the reinsurer
(in tenge)

Commission remuneration of the insurance broker under the reinsurance contract

in percentage

amount (in tenge)

name of the broker

29

30

31

32

33

34

35

36

37










      The first head or person, authorized to sign the report

      _______________________________________________________________ __________

      surname, name, patronymic (if any) (electronic digital signature)

      Phone number:_________________________

      Date of signing the report "___" __________ 20 ___ year

      Note: an explanation on completing the form for collecting administrative data is provided in the Appendix to this form.

  Appendix
to the form of journal for accounting
contracts of insurance
(reinsurance) and
additional agreements
to the contracts of insurance
(reinsurance), that have entered into
force for the last 12 months
(twelve) months

Explanation on filling out the form for collecting administrative data
Journal of accounting the contracts of insurance (reinsurance) and additional agreements to the contracts
of insurance (reinsurance), that have entered into force over the past 12 (twelve) months
Chapter 1. General provisions

      1. This explanation shall determine the unified requirements on filling out the form intended for collecting administrative data, "Journal of accounting the contracts of insurance (reinsurance) and additional agreements to the contracts of insurance (reinsurance), that have entered into force over the past 12 (twelve) months (hereinafter – the Form).

      2. The form is developed in accordance with paragraph 2 of Article 74 of the Law of the Republic of Kazakhstan dated December 18, 2000 "On Insurance Activities "(hereinafter-the Law).

      3. The form is prepared quarterly by the insurance (reinsurance) company and is filled in as of the end of the reporting period. The data in the Form is specified in tenge.

      4. The form is signed by the first head or the person authorized to sign the report.

Chapter 2. Explanation for filling out the Form

      5. The information on insurance (reinsurance) contracts and all additional agreements that entered into force in the last 12 (twelve) months preceding the reporting date shall be indicated in the form.

      6. The name of the insurance class in column 2 of the Form is indicated in full in accordance with the name provided for in Article 6 of the Law and legislative acts of the Republic of Kazakhstan regulating obligatory types of insurance.

      7. Information on the main contracts of insurance (reinsurance) shall be indicated without taking into account the adjustments of additional agreements.

      8. If there are several additional agreements, the information about each additional agreement shall be provided in a separate line.

      9. If the insurance contract is reinsured in several reinsurance companies, the information for each reinsurance contract shall be indicated in a separate line, while the information for the insurance contract specified in the columns 2, 3, 4, 5, 6, 7, 8, 9 and 10 of the Form, is subject to be reflected in each line.

  Appendix 8
to the Requirements for formation,
method of calculating insurance
reserves and their structure

      Footnote. Appendix 8 is in the wording of the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 12.09.2019 № 157 (shall be enforced upon expiry of ten calendar days after its first official publication).

      Form for collecting administrative data

      Journal of accounting the cost of forecasted payments

      Reporting period: as of "___" "__________" 20 __ year

      Index: FORMA-8

      Periodicity: quarterly

      Represents: insurance (reinsurance) company

      Where the form is submitted: National Bank of the Republic of Kazakhstan

      Submission date: quarterly, no later than the tenth working day of the month following the reporting quarter.

      Form

Class of insurance

Insurer,

Business identification number of the insurer

Reinsurer

Beneficiary

Individual identification number of the beneficiary

Date of birth of the insurer

1

2

3

4

5

6

7

8









      continuation of the table:

Gender of the insurer

Number of the insurance contract

Date of conclusion of the insurance contract

Start date of the insurance contract

End date of the insurance contract

Date of the insurance case

Insurance case (labor injury and (or) professional disease)

The degree of loss of professional ability to work, established initially
(in percentage)

9

10

11

12

13

14

15

16









      continuation of the table:

The degree of loss of professional ability to work at the date of calculation
(in percentage)
 

Number of prolongations at the reporting date

Forecasted start date of annuity payments

Forecasted end date of annuity payments

Periodicity of annuity payments

Amount of average monthly earnings (income) at the date of an accident
(in tenge)

Effective annual rate
(in percentage)

Indexation rate (in percentage)

The amount of expenses from the insurance premium
(in percentage)

17

18

19

20

21

22

23

24

25



















      continuation of the table:

The amount of expenses from the insurance payment
(in percentage)

Expected amount of the annuity payment at the date of the report (in tenge)

The amount of social payment at the date of last extension of the annuity contract
(in tenge)

The degree of fault of the employer in case of gross negligence

RONFL

Name of the reinsurer

Number of the reinsurance contract

Share of the reinsurer in RONFL
(in tenge)

26

27

28

29

30

31

32

33

















      The first head or person, authorized to sign the report

      _______________________________________________________________ __________

      surname, name, patronymic (if any) (electronic digital signature)

      Phone number:_________________________

      Date of signing the report "___" __________ 20 ___ year

      Note: an explanation on completing the form for collecting administrative data is provided in the Appendix to this form.

  Appendix to the form
of journal for accounting the cost
of the forecasted payments

Explanation on filling out the form for collecting administrative data

Journal of accounting the cost of the forecasted payments

Chapter 1. General provisions

      1. This explanation shall determine the unified requirements on filling out the form intended for collecting administrative data, “Journal of accounting the cost of the forecasted payments” (hereinafter – the Form).

      2. The form is developed in accordance with paragraph 2 of Article 74 of the Law of the Republic of Kazakhstan dated December 18, 2000 "On Insurance Activities ".

      3. The form is prepared quarterly by the insurance (reinsurance) company and is filled in as of the end of the reporting period. The data in the Form is specified in tenge.

      4. The form is signed by the first head or the person authorized to sign the report.

Chapter 2. Explanation on filling out the Form

      5. The Form shall indicate the information on the amounts of the cost of forecasted payments, related to re-extension (re-certification) of the degree of loss оf professional ability to work of the beneficiary under the class of compulsory insurance of an employee from accidents upon performance of labour (official) duties, as calculated by the actuary in accordance with paragraph 14 of the Requirements, and under the contracts of voluntary insurance, the insured object of which is the property interest of the employee, whose life and health damaged as a result of an accident, calculated by the actuary in accordance with paragraph 16 of the Requirements.

      6. Column 5 of the Form is subject to completion only if the insurance (reinsurance) company acts as a reinsurer.

      7. Column 21 of the Form is subject to completion by insurance (reinsurance) companies, carrying out insurance activities in the branch "life insurance".

      8. Column 29 of the Form indicates the degree of fault of the employer if the gross negligence of the victim himself contributed to the occurrence or increase of harm.

      9. If the insurance contract is reinsured in several reinsurance organizations, the information for each reinsurer shall be indicated in columns 31, 32 and 33 of the Form as a separate line, while the information specified in the columns 3, 4, 6, 7, 8, 9, 10, 11, 12 and 13 of the Form, is subject to be reflected in each line.

      10. Information in column 14 of the Form is indicated according to the date of the accident, specified in the act on accident, upon death or establishment of the degree of occupational disability to the worker as a result of employment injury or as of the date of conclusion of the healthcare organization, providing specialized medical expert assistance in the field of professional pathology, when establishing to the employee the degree of loss of professional ability to work as a result of identifying a professional disease.

      11. Column 18 of the Form indicates the number of extensions of professional disability at the date of the report (if such information is available).

  Appendix 9
to the Requirements for formation,
method of calculating insurance
reserves and their structure

Calculation of the reserve of occurred but not declared losses using the chain ladder method without adjustment for inflation

      Reporting period: as of "___" "________________" 20__ year

      Form

      Table of losses at the reporting date for _________________________ insurance class

      The table of losses is formed on the basis of __________________________ losses (paid, incurred)

Period of occurrence of insurance cases (i)

Losses for the periods (j)

Periodicity

1

2

n-2

n-1

n

1

Х (1,1)

Х (1,2)


Х (1, n-2)

Х (1, n-1)

Х (1, n)

2

Х (2,1)

Х (2,2)


Х (2, n-2)

Х (2, n-1)

х

3

Х (3,1)

Х (3,2)

Х (3, n-2)

х

х

х

х

х

n-1

Х (n-1,1)

Х (n-1,2)

х

х

х

х

n

Х (n,1)

х

х

х

х

х

      X (i, j) - payments (paid losses) or losses incurred, at the end of the j-th period, for insurance cases that occurred in the i-th period;

      n - the number of periods for which data on payments is considered;

      the Table of losses at the reporting date reflects payments (paid losses) or losses incurred, grouped by the periods of occurrence of insurance cases.

      Table of accumulated losses _________________________ insurance class

Period of occurrence of insurance cases (i)
 

Accumulated losses (j)

1

2

n-2

n-1

n

1

S(1,1)=Х (1,1)

S(1,2) =Х (1,1) + Х (1,2)

S(1,n-2) =Х (1,1) + Х (1,2)+… + Х (1,n-2)

S(1,n-1) = Х (1,1) + Х (1,2)+… + Х (1,n-2) + Х (1,n-1)

S(1,n) =Х (1,1) + Х (1,2)+… + Х (1,n)

2

S(2,1)=Х (2,1)

S(2,2) =Х (2,1) + Х (2,2)

S(2,n-2) =Х (2,1) + Х
(2,2)+… + Х (2,n-2)

S(2,n-1) =Х (2,1) + Х (2,2)+… + Х (2,n-2) + Х (2,n-1)

х

3

S(3,1)=Х (3,1)

S(3,2)=Х (3,1) + Х (3,2)

S(3,n-2) =Х (3,1) + Х(3,2)+… + Х (3,n-2)

х

х

х

х

х

n-1

S(n-1,1)=Х (n-1,1)

S(n-1,2)= Х (n-1,1) + Х (n-1,2)

х

х

х

х

n

S(n,1)= Х (n,1)

х

х

х

х

х

      Note: the Table of accumulated losses indicates the total amounts of payments (paid losses) or losses incurred, grouped by the periods of occurrence of insurance cases.

      Table of coefficients of losses development g(j) _________________________________

      Method of losses development (arithmetic average, average for n - periods, average value)

The period of occurrence of losses (i)

Factors of losses development (j)


1

2

n-2

n-1

n

1





х 

2




х 

х

3



х

х

х

х

х

х

n-1



х

х

х

х

n

x

х

х

х

х

х

Coefficients of losses development
g(j)

g(j)

1

2

n-2

n-1

n

arithmetic average
 






х

average for
n-periods
 






х

average value






х

      Note: the Table of coefficients of losses development determines the factors of losses development F(i,j) corresponding to the relative increase in the total amount of losses from one payment period to the next, using the following formula:

      Factor of losses development = F(i, j)= S (i, j+1)/S (i,j).

      The coefficients of losses development g(j) are calculated as the average value of the losses development factors for the periods of losses occurrence.

      Table of forecasted accumulated losses for ______________________ insurance class

Period of occurrence of insurance cases (i)

Forecasted accumulation of losses


1

2

n-2

n-1

n

1

х

х

х

х

х

х

2

х

х

х

x

x

UL(2,n) = S(2,n-1) * g(n-1)

n-1

х

x

S(n-1,2) * g(2) * … * g(n-3)

S(n-1,2) * g(2) * … * g(n-2)

UL(n-1,n) = S(n-1,2) * g(2) * … * g(n-1)

n

х

S(n,1) * g(1)

S(n,1) * g(1) * g(2) * … * g(n-3)

S(n,1) * g(1) * g(2) * … * g(n-2)

UL(n,n) = S(n,1) * g(1) * g(2) * … * g(n-1)

      Note: the Table of forecasted accumulated losses determines the expected amount of payments or losses incurred in each period.

      The expected amount of payments or losses incurred is calculated as the product of accumulated payments or losses incurred S (i, j-1) in the period of losses occurrence i from the Table of accumulated losses, and the Table of coefficients of losses development g(j).

      Table of losses reserve on _________________________

      class of insurance

Period of occurrence of insurance cases (i)

Forecasted accumulation of losses

The reserve of losses for periods


1

2

n-2

n-1

n

1

х

х

х

х

х

х

x

2

х

х

х

x

x

UL(2,n) = S(2,n-1) * g(n-1)

UL(2,n)-S(2,n-1)

n-1

х

x

S(n-1,2) * g(2) * … * g(n-3)

S(n-1,2) * g(2) * … * g(n-2)

UL(n-1,n) = S(n-1,2) * g(2) * … * g(n-1)

UL(n-1,n)-S(n-1,2)

n

х

S(n,1) * g(1)

S(n,1) * g(1) * g(2) * … * g(n-3)

S(n,1) * g(1) * g(2) * … * g(n-2)

UL(n,n) = S(n,1) * g(1) * g(2) * … * g(n-1)

UL(n, n)-S(n,1)

      Table of the reserve of occurred but not declared losses on ____________________ insurance class

Period of occurrence of insurance cases (i)

Reserve of losses for periods

Declared, but not settled losses

Occurred, but not declared losses

1

2

3

1




2




3







n-1




n




Total




      Note:

      the Table of the reserve of occurred but not declared losses indicates:

      in the column " Reserve of losses for periods" - the values of the losses reserves in the corresponding periods;

      in the column "Declared, but not settled losses" - the amount of declared losses in the corresponding periods;

      in the column "Occurred, but not declared losses" - the difference between the columns " Reserve of losses for periods" and "Declared, but not settled losses" in the corresponding period. If there is a negative difference, the column "Occurred, but not declared losses" takes the value 0 (zero);

      if the calculation is based on payments, then RONL - the sum of occurred but not declared losses referred to in column 3 of the Table of the reserve of occurred, but not declared losses, if the calculation is based on incurred losses, then RONL is the sum of losses reserves for periods.

  Appendix 10
to the Requirements for formation,
method of calculating insurance
reserves and their structure

Calculation of the reserve of occurred, but not declared losses using the chain ladder method with adjustment for inflation

      Reporting period: as of "___" "________________" 20__ year

      Form

      Table of losses at the reporting date for ______________________ insurance class

      The table of losses is formed on the basis of __________________________ losses (paid, incurred)

Period of occurrence
of insurance cases (i)

Losses for periods (j)

Periodicity

1

2

n-2

n-1

n

1







2






х

3





х

х

х

х

х

n-1



х

х

х

х

n


х

х

х

х

х

      Note: the Table of losses at the reporting date reflects payments (paid losses) or losses incurred, grouped by the periods of occurrence of insurance cases.

      Table of information on inflation for each past period

Periods

Inflation for the past period (in percentage)

1


2


3



n-1


n


      Note: the Table of inflation information for each past period indicates the accumulated values of official inflation values for the period of occurrence of insurance cases.

      Table of losses with adjustment for inflation for past periods on ________________

      class of insurance

Period of occurrence
of insurance cases (i)

Losses for periods with adjustment for inflation for past periods (j)


1

2

n-2

n-1

n

1







2






х

3





х

х

х

х

х

n-1



х

х

х

х

n


х

х

х

х

х

      Table of accumulated losses with adjustment for inflation for past periods on _________________

      class of insurance

Period of occurrence
of insurance cases (i)

Accumulated losses with adjustment for inflation for past periods(j)
 


1

2

n-2

n-1

n

1







2






х

3





х

х

х

х

х

n-1



х

х

х

х

n


х

х

х

х

х

      Table of coefficients оf losses development g(j) ________________________________________

      method of losses development (arithmetic average, average for n-periods, average value)

Period of occurrence
of insurance cases (i)

Factors of losses development (j)
 


1

2

n-2

n-1

n

1







2






х

3





х

х

х

х

х

n-1



х

х

х

х

n


х

х

х

х

х

Coefficients of losses development g(j)

g(j)

1

2

n-2

n-1

n

arithmetic average






х

average for n-periods






х

average value






х

      Table of forecasted accumulated losses with adjustment for inflation for past periods on _____________________

      class of insurance

Period of occurrence
of insurance cases (i)

Forecasted accumulation of losses with adjustment for inflation for past periods


1

2

n-2

n-1

n

1

х

х

х

х

х

2

х

х

х

х


3

х

х

х



n-1

х

х




n

х






      Table of the reserve of losses with adjustment for inflation for past periods on _____________________

      class of insurance

Period of occurrence
of insurance cases (i)

Forecasted accumulation of losses with adjustment for inflation for past periods

The reserve of losses for periods


1

2

n-2

n-1

n


1

х

х

х

х

х

0

2

х

х

х

х



3

х

х

х




n-1

х

х





n

х







Reserve of losses with adjustment for inflation for past periods


      Table of reserve of occurred but not declared losses on __________________

      class of insurance

Period of occurrence
of insurance cases (i)

Reserve of losses for periods

Declared but not settled losses

Occurred, but not declared losses

1

2

3

1




2




3







n-1




n




Total




      Note: if in the Table of reserve of occurred but not declared losses, the calculation is based on payments, then RONL- the sum of occurred, but not declared losses, indicated in column 3 of the Table of reserve of occurred, but not declared losses, if the calculation is based on incurred losses, then RONL - the sum of reserve of losses for the periods, indicated in column 1 of the Table of reserve of occurred, but not declared losses;

      the column "Occurred, but not declared losses" indicates the difference between the columns " Reserve of losses for periods" and "Declared, but not settled losses" in the corresponding period. If there is a negative difference, the column "Occurred, but not declared losses" takes value 0 (zero).

  Appendix 11
to the Requirements for formation,
  method of calculating insurance
reserves and their structure

      Footnote. Appendix 11 is in the wording of the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 12.09.2019 № 157 (shall be enforced upon expiry of ten calendar days after its first official publication).

      Calculation of the reserve of occurred, but not declared losses using the Bornhuetter-Ferguson method

      Reporting period: as of "___" "__________" 20 __ year

      Form

      Table of losses at the reporting date on _______________________

      class of insurance

      Table of losses is generated on the basis __________________________ losses

      (paid, incurred)

Period of occurrence
of insurance cases (i)

Losses for periods (j)

Periodicity

1

2

n-2

n-1

n

1

Х (1,1)

Х (1,2)


Х (1, n-2)

Х (1, n-1) 

Х (1, n) 

2

Х (2,1)

Х (2,2)


Х (2, n-2)

Х (2, n-1) 

х

3





х

х

х

х

х

n-1

Х (n-1,1)

Х (n-1,2)

х

х

х

х

n

Х (n,1) 

х

х

х

х

х

      Note:

      X (i, j) - payments (paid losses) or losses incurred, at the end of the j-th period, for insurance cases, that occurred in the i-th period;

      n - number of periods for which data of losses is considered;

      the Table of losses at the reporting date reflects payments (paid losses) or losses incurred, grouped by the periods of occurrence of insurance cases.

      Table of accumulated losses on _______________________

      class of insurance

Period of occurrence
of insurance cases (i)

Accumulated losses (j)

1

2

n-2

n-1

n

1

S(1,1)=Х (1,1)

S(1,2) =(Х (1,1) + Х (1,2)

S(1,n-2) =(Х (1,1) + Х (1,2)+… + Х (1,n-2)

S(1,n-1) =( Х (1,1) + Х (1,2)+… + Х (1,n-2) + Х (1,n-1)

S(1,n) =Х (1,1) + Х (1,2)+… + Х (1,n) 

2

S(2,1)=Х (2,1)

S(2,2) =Х (2,1) + Х (2,2)

S(2,n-2) =(Х (2,1) + Х
(2,2)+… + Х (2,n-2)

 S(2,n-1) =Х (2,1) + Х (2,2)+… + Х (2,n-2) + Х (2,n-1)

х

3

S(3,1)=Х (3,1)

S(3,2)= Х (3,1) + Х (3,2) 

 S(3,n-2) =(Х (3,1) + Х(3,2)+… + Х (3,n-2)

х

х

х

х

х

n-1

S(n-1,1)=Х (n-1,1)

S(n-1,2)= Х (n-1,1) + Х (n-1,2)

х

х

х

х

n

S(n,1)= Х (n,1)

х

х

х

х

х

      Note: the Table of accumulated losses indicates the total payments (paid losses) or losses incurred, grouped by the periods of occurrence of insurance cases.

      Table of coefficients of losses development g(j) _______________________________________

      method of losses development (arithmetic average, average for n - periods, average value)

Period of occurrence of losses (і)

Factors of losses development (j)


1

2

n-2

n-1

n

1





х

2




х

х

3



х

х

х

х

х

х

n-1



х

х

х

х

n

x

х

х

х

х

х

Coefficients of losses development g(j)

g(j)

1

2

n-2

n-1

n

arithmetic average






х

average for n - periods






х

average value






х

      Note: the Table of coefficients of losses development determines the factors of losses development F(I,j) corresponding to the relative increase in the total amount of declared losses from one payment period to the next, using the following formula:

      Factor of losses development F(і,j)= S (і,j+1)/S (і,j).

      The coefficients of losses development g(j) are calculated as the average value of the losses development factors for the periods of losses occurrence.

      Table of coefficients

Period of occurrence
of insurance cases (i)

Coefficients of losses development g(j)

Factors of losses development f (j)

The factors of delay h(j)= 1 - 1/f (j)
 

1

1

1

1-1/ 1

2

g(n-1)

1*g(n-1)

1-1/( g(n-1))

3

g(n-2)

1*g(n-1) *g(n-2)

1-1/ (1*g(n-1) *g(n-2))

n-1

g(2)

1*g(n-1) *g(n-2)*…* g(2)

1-1/ (1*g(n-1) *g(n-2)*…* g(2))

n

g(1)

1*g(n-1)*g(n-2)*…* g(2)*g(1)

 1-1/ (1*g(n-1) *g(n-2)*…* g(2)*g(1))

      Note: the Table of coefficients indicates:

      in the column "Coefficients of losses development g(j)" - the values of coefficients of losses development, indicated in the Table of coefficients of losses development g(j);

      in the column "Factors of development of losses f (j)" - accumulated values of coefficients of losses development;

      in the column "Factors of delay h (j)" - values equal to 1-1/f (j), where f (j) is a development factor.

      Table for calculating loss ratio by policies

Financial year (y)

Incurred losses

Earned premiums

Loss ratio by policies

1

2

3

4

1

UL(1)

UP(1)

U(1)=UL(1)/UP(1)

2

UL(2)

UP(2)

U(2)=UL(2)/UP(2)

m-1

UL(m-1)

UP(m-1)

U(m-1)=UL(m-1)/UP(m-1)

m

UL(m)

UP(m)

U(m)=UL(m)/UP(m)

      Note:

      in the Table for calculating the loss ratio:

      the column "Incurred losses" indicates the values of losses incurred as of the reporting date, including expenses for settlement of losses, under the contracts of insurance (reinsurance), that entered into force in the financial year, preceding the period of occurrence of insurance cases;

      the column "Earned premiums" indicates the earned premium under the contracts of insurance (reinsurance) that entered into force in the financial year preceding the period of occurrence of insurance cases;

      the loss ratio U is determined by the following formula:

      U ≥ [U (1) + U (2) + … + U(m)]/m, where:

      U(m) - coefficients of loss by policies for each m-th financial year preceding the period of occurrence of insurance cases, calculated as the ratio of the amount of losses incurred, including expenses for settlement of losses, under the contracts of insurance (reinsurance), that entered into force in the corresponding financial year, to the insurance premiums, earned at the reporting date under these contracts;

      m - number of financial years.

      Table of the reserve for occurred, but not declared losses

Period of occurrence of insurance cases (і)

Earned premiums

Loss ratio U

Expected final losses z(і)

Factors of delay h (j)

Losses incurred, but not paid at the reporting date R(і)

Declared, but not settled losses at the reporting date

Occurred, but not declared losses


1

2

3=1*2

4

5=3*4

6

7=5-6

1








2








3















n-1








n








Total








      Note: in the Table for reserve of occurred, but not declared losses of this Form:

      in the column "Earned premiums" - the earned premium of the insurance company in the corresponding period;

      in the column "Loss ratio U" - the value of the loss ratio, the size of which is not less than the average value of the loss ratio by policies in accordance with the Table for calculating the loss ration by policies of this Form;

      in the column "Factors of delay h(j)" - the values of the delay factors h(j), calculated in the Table of coefficients of this Form;

      if the calculation method Bornhuetter-Ferguson is based on payments, then RONL- the sum of occurred, but not declared losses (column 7, Table of reserve of occurred, but not declared losses of this Form), if the calculation is based on incurred losses, then RONL - the sum of occurred, but not paid losses at the reporting date (column 5 of the Table of reserve of occurred, but not declared losses of this Form);

      in the column "Occurred, but not declared losses", there is a difference between the columns "Occurred, but not paid losses at the reporting date R(і)" and "Declared, but not settled losses at the reporting date" in the corresponding period. If there is a negative difference, the column "Occurred, but not declared losses" takes value 0 (zero).

      When calculating the RONL minus the reinsurer's share:

      the column "Earned premiums" indicates the values of the earned premium minus the reinsurer's share in the corresponding period;

      the column " Factors of delay h(j)" indicates the values of the delay factors h(j), taking into account the reinsurer's share, calculated in the Table of coefficients of this Form.

  Appendix12
to the Requirements for formation,
method of calculating insurance
reserves and their structure

Distribution of liabilities of an insurance (reinsurance) company based on losses incurred
Table of accumulated amounts of payments (paid losses) grouped by periods of occurrence of insurance cases

Period of occurrence of insurance cases (і)

Accumulated paid losses by periods (j)

Periodicity

1

2

n-2

n-1

n

1

Х (1,1)

Х (1,1) + Х (1,2)


Х (1,1) + … + Х (1, n-2)

Х (1,1) + … + Х (1, n-2) + Х (1, n-1)

Х (1,1) + … + Х (1, n-1) + Х (1, n)

2

Х (2,1)

Х (2,1) + Х (2,2)


Х (2,1) + … + Х (2, n-2)

Х (2,1) + … + Х (2, n-2) + Х (2, n-1)

х

3

Х (3,1) 

Х (3,1) + Х (3,2)

… 

Х (3,1) + … +Х (3, n-2) 

х

х

х

х

х

n-1

Х (n-1,1)

Х (n-1,1) + Х (n-1,2)

х

х

х

х

n

Х (n,1) 

х

х

х

х

х

      X (i,j) – payments (paid losses) at the end of the j-th period, for insurance cases, that occurred in the i-th period.

      Table of declared not settled losses, grouped by state at the end of each period of occurrence of losses

Period of occurrence of insurance cases (і)

Declared not settled losses for periods (j)

Periodicity

1

2

n-2

n-1

n

1

Y (1,1)

Y (1,2)


Y (1, n-2)

Y (1, n-1) 

Y (1, n) 

2

Y (2,1)

Y (2,2)


Y (2, n-2)

Y (2, n-1) 

x

3

Y (3,1) 

 Y (3,2)

… 

Y (3, n-2) 

x

x

x

x

x

n-1

Y (n-1,1)

Y (n-1,2)

x

x

x

x

n

Y (n,1) 

x

x

x

x

x

      Y (i, j) – declared losses at the end of the j-th period, for insurance cases, that occurred in the i-th period.

      Table of accumulated losses based on losses incurred__________________ at the reporting date

Period of occurrence of insurance cases (і)

Losses incurred (j)

Periodicity

1

2

n-2

n-1

n

1

Х (1,1) + Y (1,1)

Х (1,1) + Х (1,2) + Y (1,2)


Х (1,1) + … + Х (1, n-2) + Y (1, n-2)

Х (1,1) + … + Х (1, n-2) + Х (1, n-1) + Y (1, n-1)

Х (1,1) + … + Х (1, n-1) + Х (1, n) + Y (1, n)

2

Х (2,1) + Y (2,1)

Х (2,1) + Х (2,2) + Y (2,2)


Х (2,1) + … + Х (2, n-2) + Y (2, n-2)

Х (2,1) + … + Х (2, n-2) + Х (2, n-1) + Y (2, n-1)

х

3

Х (3,1) + Y (3,1)

Х (3,1) + Х (3,2) + Y (3,2)

… 

Х (3,1) + … +Х (3, n-2) + Y (3, n-2)

х

х

х

х

х

n-1

Х (n-1,1) + Y (n-1,1)

Х (n-1,1) + Х (n-1,2) +
Y (n-1,2)

х

х

х

х

n

Х (n,1) + Y (n,1) 

х

х

х

х

х

  Appendix 13
to the Requirements for formation,
method of calculating insurance
reserves and their structure

Mortality rates for calculating insurance payments under the contract of pension annuity

Age

Men

Women

25

0,0024481809

0,0006274238

26

0,0025943697

0,0006676971

27

0,0027233502

0,0007056074

28

0,0028425047

0,0007412992

29

0,0029577995

0,0007767228

30

0,0030798642

0,0008119244

31

0,0032114459

0,0008505828

32

0,0033612022

0,0008924813

33

0,0035291163

0,0009385639

34

0,0037197668

0,0009906002

35

0,0039348729

0,0010483273

36

0,0041784741

0,0011163161

37

0,0044493232

0,0011944894

38

0,0047483920

0,0012837138

39

0,0050708321

0,0013820340

40

0,0054208771

0,0014874267

41

0,0057993651

0,0016000204

42

0,0062130588

0,0017212900

43

0,0066625747

0,0018544187

44

0,0071474184

0,0020023703

45

0,0076680100

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On approval of requirements for formation, method of calculating insurance reserves and their structure (changes for 31 января 2019) V1900018290

Resolution of the Board of the National Bank of the Republic of Kazakhstan №13 dated January 31, 2019. Registered in the Ministry of Justice of the Republic of Kazakhstan on February 12, 2019, № 18290.

      Unofficial translation

      In accordance with the laws of the Republic of Kazakhstan dated December 18, 2000 "On Insurance Activities" and dated March 19, 2010 "On State Statistics", the Board of the National Bank of the Republic of Kazakhstan DECIDES:

      1. To approve the attached Requirements for formation, method of calculating insurance reserves and their structure (hereinafter-the Requirements).

      2. To recognize as invalid:

      1) the resolution of the Board of the National Bank of the Republic of Kazakhstan dated May 6, 2014 №76 "On approval of the Requirements for formation, method of calculating insurance reserves and their structure (registered in the Register of state registration of regulatory legal acts under № 9529, published on July 2, 2014 in the information and legal system "Adilet");

      2) paragraph 22 of the List of regulatory legal acts of the Republic of Kazakhstan on the issues of regulation of insurance activities, which are being amended, approved by the resolution of the Board of the National Bank of the Republic of Kazakhstan dated May 30, 2016 № 127 "On amendments to certain regulatory legal acts of the Republic of Kazakhstan on the issues of regulation of insurance activities" (registered in the Register of state registration of regulatory legal acts under № 14277, published on October 24, 2016 in the legal information system "Adilet").

      3. The Department for regulation of non-bank financial organizations (A. M. Kosherbayeva) in the manner established by the legislation of the Republic of Kazakhstan shall ensure:

      1) state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan together with the Legal department (N. V. Sarsenova);

      2) sending of this resolution in the Kazakh and Russian languages to the Republican state enterprise on the right of economic management "Republican Center for Legal Information" for official publication and inclusion to the Standard control bank of regulatory legal acts of the Republic of Kazakhstan within ten calendar days from the date of its state registration;

      3) placement of this resolution on the official Internet resource of the National Bank of the Republic of Kazakhstan after its official publication;

      4) submission of this resolution to the Legal department of information on implementation of measures, provided for in subparagraphs 2), 3) of this paragraph and paragraph 4 of this resolution within ten working days after its state registration.

      4. The Department for protection of rights of the consumers of financial services and external communications (A. L. Terentyev) shall ensure sending a copy of this resolution for official publication in periodicals within ten calendar days after its state registration.

      5. Control over execution of this resolution shall be assigned to the deputy Chairman of the National Bank of the Republic of Kazakhstan Zh. B. Kurmanov.

      6. This resolution shall be enforced upon expiration of ten calendar days after its first official publication.

      Footnote. Paragraph 6 is in the wording of the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 12.09.2019 № 157 (shall be enforced upon expiry of ten calendar days after its first official publication).

      Chairman of the
National Bank
D. Akishev

      "AGREED"

      Committee on statistics of the

      Ministry of National Economy of the

      Republic of Kazakhstan

      _____________________

      "___" _____________ 2019

  Approved
by the resolution of the
Board of the National bank
of the Republic of Kazakhstan
№ 13 dated January 31, 2019

Requirements for formation, method of calculating insurance reserves and their structure

Chapter 1. General provisions

      1. These Requirements for formation, method of calculating of insurance reserves and their structure (hereinafter – the Requirements) are developed in accordance with the Law of the Republic of Kazakhstan dated December 18, 2000 "On Insurance Activities" (hereinafter – the Law) and shall establish the requirements for formation, method of calculating of insurance reserves and their structure for obligatory and voluntary classes of insurance in branches "general insurance" and "life insurance".

      The requirements shall apply to insurance (reinsurance) companies, including Islamic insurance (reinsurance) organizations.

      2. The following definitions are used for the Requirements purposes:

      1) actuarial methods – economic and mathematical methods of calculations, used by the actuary in calculating insurance reserves;

      2) catastrophic risk – the risk of loss or adverse changes in the value of insurance liabilities as a result of significant uncertainty in the assumptions, used in pricing and formation of reserves in relation to extreme and exceptional cases;

      3) forecasted payments – obligations of the insurance (reinsurance) company, related to extension (re-certification) of the degree of loss of professional ability to work (hereinafter – the degree of LPA) of the beneficiary;

      4) calculation date – the date on which the insurance reserves are calculated;

      5) minimum deposit premium (deposit premium) – the amount of money that is payable to an insurance (reinsurance) company under an insurance (reinsurance) contract, the terms of which provide for their non-return;

      6) unearned insurance premium – a part of the insurance premium related to the remaining period of validity of insurance protection on the calculation date under the contract of insurance (reinsurance);

      7) indexation rate – a rate, increasing the amount of the insurance payment;

      8) presented expected cost – the expected (probable) cost of insurance premiums (insurance contributions) or insurance payments, or expenses calculated (discounted) taking into account the interest rate and the time period between the date of calculation and the date of receipt of the insurance premium (contributions) or the date of payment of insurance under the insurance (reinsurance) contract using tables, containing the probability of death, disability, disease and the values, calculated on their basis related to upcoming life expectancy of persons (hereinafter referred to as – tables of mortality, morbidity, and disability);

      9) losses incurred – the amount of payments made and declared, but not settled losses of the insurance (reinsurance) company;

      10) declared but not settled losses – requirement of the insurance (reinsurance) company on the occurrence of insurance case and (or) insurance event and (or) about making payment of the insurance benefit, declared by the insurer (beneficiary) in written form or in the manner prescribed by the laws of the Republic of Kazakhstan on compulsory types of insurance and (or) the contract of insurance (reinsurance) for which payments were not made or were not made in full;

      11) net-premium (net-contributions when paying by installments)- the amount of money that is payable to the insurance (reinsurance) company for its acceptance of obligations solely to make insurance payments without taking into account the coverage of other expenses of the insurance (reinsurance) company;

      12) reserve basis – a set of parameter values that affect the amount of insurance reserves under life insurance and annuity insurance contracts;

      13) expenses for the settlement of insurance losses – the amount of money necessary for insurance (reinsurance) company to pay for expert, consulting or other services related to assessment of the size and reduction of damage (harm) caused to the property interests of the insured arising from insurance cases;

      14) insurance event – an event that is likely to be recognized as an insurance event in the future in accordance with the laws of the Republic of Kazakhstan on compulsory types of insurance and (or) an insurance (reinsurance) contract);

      15) insurance reserves – liabilities of an insurance (reinsurance) company under insurance (reinsurance) contracts, estimated on the basis of actuarial calculations in accordance with the Requirements;

      16) the reinsurer's share in insurance reserves – part of the reinsurer's obligations under the insurance (reinsurance) contract on the date of calculation;

      17) insurance premium – an insurance premium under an insurance (reinsurance) contract recognized in accounting as income;

      18) net insurance premium- an insurance premium without taking into account the reinsurer's share;

      19) tariff basis – a set of parameter values, affecting the amount of insurance rates under life insurance and annuity insurance contracts.

Chapter 2. Requirements to information, necessary for calculating insurance reserves

      3. Insurance reserves are formed by an insurance (reinsurance) company separately for each contract of insurance (reinsurance) and (or) for each class of insurance, and (or) for each declared but not settled loss, depending on the type of insurance reserve provided for in paragraph 5 of the Requirements. Calculation of insurance reserves are made taking into account the volume of obligations, accepted by an insurance (reinsurance) company for all concluded insurance (reinsurance) contracts, regardless of the subsequent reinsurance of risks.

      The actuary carries out calculation of insurance reserves on the basis of information contained in the following insurance journals, including but not limited to:

      a journal of accounting of existing insurance (reinsurance) contracts and contracts transferred to reinsurance in the branch "general insurance" in accordance with Appendix 1 to the Requirements;

      a journal of accounting losses (except for insurance payments made) in accordance with Appendix 2 to the Requirements;

      a journal of accounting insurance payments in accordance with Appendix 3 to the Requirements;

      a journal of accounting of existing insurance (reinsurance) contracts and contracts transferred to reinsurance in the branch "life insurance" in accordance with Appendix 4 to the Requirements;

      a journal of accounting of existing pension annuity contracts and other types of annuity insurance in accordance with Appendix 5 to the Requirements;

      a journal of accounting of existing annuity contracts, concluded in accordance with the Law of the Republic of Kazakhstan dated 7 February 2005 "On Compulsory Insurance of an Employee from Accidents upon Performance of Labour (Official) Duties by them" (hereinafter – the Law on compulsory insurance of an employee from accidents), in accordance with Appendix 6 to the Requirements;

      a journal of accounting of insurance (reinsurance) contracts and additional agreements to insurance (reinsurance) contracts that have entered into force over the past 12 (twelve) months, in the form according to Appendix 7 to the Requirements;

      a journal of accounting of the cost of forecasted payments according to Appendix 8 to the Requirements.

      Journals shall be kept by an insurance (reinsurance) company in electronic form and submitted to the National Bank of the Republic of Kazakhstan in electronic form via the automated information system of the National Bank of the Republic of Kazakhstan on a quarterly basis according to the appendices, specified in part two of this paragraph of the Requirements.

      4. The actuary, no later than the 10th (tenth) working day of the month following the reporting quarter, shall submit to the national Bank of the Republic of Kazakhstan, via the automated information system of the National Bank of the Republic of Kazakhstan, a justification for calculating insurance reserves in electronic form (Microsoft Word format), certified by an electronic digital signature of the actuary.

      The justification for calculating insurance reserves shall be drawn up in any form and contain:

      parameters of reserve basis with application of justifications for each parameter;

      justification for choosing the method of calculating the reserve of incurred, but not declared losses and the reserve of incurred, but not yet declared losses, with information on the number of loss periods taken into account in the calculation, the frequency of losses, choice of the loss development coefficient, smoothing of major losses, additional obligations, and calculation of the correction coefficient according to paragraph 16 of the Requirements;

      justification for the amounts of estimated expenses related to consideration and settlement of the amount of insurance payments for the declared requirements;

      justification for correction the loss, taken into account in calculation of the average (market average) value of paid claims according to paragraph 22 of the Requirements (if any in the reporting period);

      justification and calculation of the amount of obligations of an insurance (reinsurance) company, related to occurrence of additional risks on the date of calculation under concluded insurance (reinsurance) contracts, not provided for when forming insurance reserves;

      the results of the test for the adequacy of loss reserves, including a retrospective analysis based on data for the last 12 (twelve) months, separately for each class of insurance and for the insurance portfolio as a whole;

      conclusions about sufficiency (insufficiency) of insurance reserves and in case of insufficiency of insurance reserves, analysis of the causes of insufficiency;

      when forming a share of the reinsurer in insurance reserves under the reinsurance contracts providing for the transfer of more than 80 (eighty) percent of the insurance premium – the conclusion of the reinsurance division on availability of confirmation of the reinsurer (reinsurers), provided for in paragraph 53 of the Requirements, signed by an executive employee of the insurance (reinsurance) company, whose powers includes supervision of issues of the reinsurance division;

      other assumptions and presumptions, used by the actuary in calculating the insurance reserves and the reinsurer's share in the insurance reserves, and the information necessary to indicate in the justification, in the opinion of the actuary.

      Footnote. Paragraph 4 is in the wording of the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 12.09.2019 № 157 (shall be enforced upon expiry of ten calendar days after its first official publication).

Chapter 3. Structure of insurance reserves

      5. Insurance reserves required for formation of an insurance (reinsurance) company shall include:

      1) reserve of unearned premiums (hereinafter RUP) – a part of insurance premium (contributions) under the contract of insurance (reinsurance), related to the remaining period of validity of insurance protection (unearned premium) on the calculation date, intended for execution of obligations to provide for future payments, if they arise in the following reporting periods;

      2) reserve for non-occurred losses (hereinafter referred to as RNL) – obligations of an insurance (reinsurance) company on making insurance payments for insured cases that did not occur on the date of calculation;

      3) reserves of losses:

      the reserve of occurred but not declared losses (hereinafter RONL) – an assessment of obligations of insurance (reinsurance) company on making insurance payments, including expenses on settlement of losses arising from insured cases that occurred in the reporting or previous periods, on the fact of occurrence of which was not declared to the insurance (reinsurance) company in accordance with the Law of the Republic of Kazakhstan or the contract in the reporting or previous periods;

      reserve for declared but not settled losses (hereinafter – RDNL) – an assessment of unfulfilled or not fully fulfilled obligations of an insurance (reinsurance) company on making insurance payments at the reporting date, including expenses on settlement of losses.

      6. The total values of insurance reserves under the insurance contract when calculating the RUP, RNL, RDNL and when calculating the RONL for the insurance class, which have a negative value, shall take the zero value.

      Insurance (reinsurance) companies shall submit the following information to the national Bank of the Republic of Kazakhstan in electronic form via the automated information system of the National Bank of the Republic of Kazakhstan no later than the 10th (tenth) working day of the month following the reporting quarter:

      Calculation of the reserve for occurred, but not declared losses using the chain ladder method without adjustment for inflation, in the form according to Appendix 9 to the Requirements;

      Calculation of the reserve for occurred, but not declared losses using the chain ladder method, with adjustment for inflation, in the form according to Appendix 10 to the Requirements;

      Calculation of the reserve for occurred, but not declared losses using the Bornhuetter-Ferguson method, in the form according to Appendix 11 to the Requirements.

Chapter 4. Calculation of insurance reserves in the branch "general insurance"

      7. The RUP is calculated separately for each insurance contract.

      8. The proportion method is used for calculation the RUP value.

      9. The RUP using the proportion method is determined by summing up unearned premiums calculated for each contract.

      The unearned premium using the proportion method is determined by for each contract as the product of insurance premium under the contract by the ratio of the insurance protection period that did not expire on the reporting date (in days) to the insurance protection period (in days) from the date of recognition of the insurance premium in accounting as income until the end of the insurance protection period:


     


      where,

      IP-insurance premium;

      T1 - number of days during which the insurance protection is valid from the date of recognition of the insurance premium in accounting as income until the end of the insurance protection under the contract of insurance (reinsurance);

      T2 - number of days of insurance protection that has expired since recognition of the insurance premium in accounting as income before the calculation date (inclusive).

      When calculating prudential standards in accordance with the resolution of the Board of the National Bank of the Republic of Kazakhstan dated December 26, 2016 №304 "On establishing of normative values and methods for calculating prudential standards of an insurance (reinsurance) company and an insurance group and other mandatory norms and limits, list, forms, and deadlines for reporting on implementation of prudential standards by insurance (reinsurance) companies and insurance groups, the Rules for reporting on implementation of prudential standards by insurance (reinsurance) companies and insurance groups, requirements for shares (stakes in the charter capital) of legal entities, purchased by insurance (reinsurance) organizations, subsidiaries of insurance (reinsurance) companies or insurance holdings, a list of bonds of international financial organizations, purchased by insurance holdings, the minimum required rating for bonds, purchased by insurance holdings, and a list of rating agencies, as well as the list of financial instruments (excluding shares and participation stakes in the charter capital), purchased by insurance (reinsurance) companies" (registered in the Register of state registration of regulatory legal acts under № 14794) (hereinafter – resolution № 304), calculation of the RUP under the contract of compulsory insurance of an employee from accidents upon performance of labour (official) duties shall be carried out based on the size of the insurance premium, calculated in accordance with Article 17 of the Law on compulsory insurance of an employee from accidents.

      Footnote. Paragraph 9 is in the wording of the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 12.09.2019 № 157 (shall be enforced upon expiry of ten calendar days after its first official publication).

      10. Calculation of RONL shall be made separately for each class of insurance. The total amount of RONL shall be determined by summing up the RONL, calculated for all insurance classes.

      11. The RONL is carried out by the following actuarial methods:

      1) the chain ladder method, without adjustment for inflation in accordance with Calculation of a reserve of occurred, but not declared losses by the chain ladder method without adjustment for inflation according to Appendix 9 to the Requirements and with adjustment for inflation in accordance with the Calculation of a reserve of occurred, but not declared losses by the chain ladder method with adjustment for inflation in the form according to Appendix 10 to the Requirements.

      For the purposes of the Requirements, the chain ladder method refers to the method of allocating the insurer's obligations on making insurance payments for insurance events that occurred in the reporting period or in the periods preceding the reporting period.

      In the chain ladder method, distribution of the insurer's obligations is based on payments (paid losses) or losses incurred by the insurance (reinsurance) company.

      In the chain ladder method with adjustment for inflation, payments (paid losses) or losses incurred are increased by the inflation rate;

      2) Bornhuetter-Ferguson method in accordance with Calculation of the reserve for occurred, but not declared losses by the Bornhuetter-Ferguson method in the form according to Appendix 11 to the Requirements.

      The Bornhutter-Ferguson method is based on the chain ladder method, where the distribution of obligations is based on payments (paid losses) or losses incurred, and in determination of expected amount of future losses.

      The expected amount of future losses is equal to the product of the earned premium and the loss ratio, the amount of which is not less than the average value of the loss ratio for policies, calculated for the completed financial years preceding the loss periods taken into account by an insurance (reinsurance) company when distributing obligations according to Appendix 11 to the Requirements.

      Footnote. Paragraph 11 as amended by the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 12.09.2019 № 157 (shall be enforced upon expiry of ten calendar days after its first official publication).

      11-1. The loss ratio for policies is calculated as the ratio of the amount of losses incurred, including expenses on settlement of losses, under the contracts of insurance (reinsurance) that entered into force in the corresponding financial year, to the insurance premiums earned under the specified contracts of insurance (reinsurance).

      When calculating the loss ratio for policies, losses incurred, including expenses on settlement of loss, and earned insurance premiums are accounted for the completed financial years prior to the reporting date.

      When calculating the loss ratio for policies, the actuary, if necessary, makes adjustments to the loss under the insurance (reinsurance) contract, which is large, according to the methodology for determining major losses, developed by the actuary of the insurance (reinsurance) company and provided to the national Bank of the Republic of Kazakhstan in the manner and terms established by paragraph 15 of the Requirements.

      The Requirements are supplemented by paragraph 11-1 in accordance with the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 12.09.2019 № 157 (shall be enforced upon expiry of ten calendar days after its first official publication).

      12. If the actuary allocates the insurer's obligations based on the losses incurred when calculating the RONL using actuarial methods, the Table of accumulated losses of Calculation of the reserve of losses occurred, but not declared using the chain ladder method without adjustment for inflation in accordance with Appendix 9 to the Requirements shall be constructed by summing up the declared but unsettled losses and accumulated amounts of payments (paid losses) at the end of each period of losses occurrence, used to construct the triangle of accumulated losses, according to the Table of accumulated losses based on losses incurred of the Distribution of obligations of an insurance (reinsurance) company based on losses incurred in accordance with Appendix 12 to the Requirements.

      If the actuary allocates the insurer's obligations based on the losses incurred when calculating the RONL using actuarial methods, the Table of accumulated losses with adjustment for inflation for the past periods of Calculation of the reserve for losses occurred, but not declared using the chain ladder method with adjustment for inflation in accordance with Appendix 10 to the Requirements is constructed by summing up the declared but unsettled losses and accumulated amounts of payments (paid losses) at the end of each period of losses occurrence, used to construct the triangle of accumulated losses, according to the Table of accumulated losses based on losses incurred of the Distribution of obligations of an insurance (reinsurance) company based on losses incurred in accordance with Appendix 12 to the Requirements.

      If the actuary allocates the insurer's obligations based on the losses incurred when calculating the RONL using actuarial methods, the Table of accumulated losses of Calculation of the reserve of losses occurred but not declared using the Bornhuetter-Ferguson method in the form according to Appendix 11 to the Requirements shall be constructed by summing up the declared, but not settled losses and accumulated amounts of payments (paid losses) at the end of each period of losses occurrence, used to construct the triangle of accumulated losses, according to the Table of accumulated losses based on losses incurred of the Distribution of obligations of an insurance (reinsurance) company based on losses incurred in accordance with Appendix 12 to the Requirements.

      13. If, on the reporting date, the value of the RONL assumes a decrease of more than 30 (thirty) percent compared to the previous reporting date, the actuarial method specified in paragraph 11 of the Requirements, which provides for the largest amount of the RONL, shall be used to calculate the RONL.

      14. RONL for the class of compulsory insurance of an employee from accidents upon performance of their labour (official) duties consists of two parts and is determined by the following formula:

      RONL = RONYL + RONFL, where:

      RONYL - a reserve of losses that have occurred, but have not yet been declared, which is calculated using the actuarial methods specified in paragraph 11 of the Requirements. In the case of carrying out by the insurance (reinsurance) company of the activity by class of compulsory insurance of an employee from accidents upon performance of labour (official) duties at least three (3) years, or insufficient data to calculate RONYL by the methods, specified in paragraph 11 of the Requirements, the RONYL is not less than 5 (five) percent of the amount of the insurance premium accrued under the contracts of insurance (reinsurance) and additional agreements to the contracts of insurance (reinsurance) on this class, which entered into force over the last twelve months, preceding the calculation date.

      If the actuary allocates the insurer's obligations based on the losses incurred when calculating the RONYL using actuarial methods, the Table of accumulated losses of Calculation of the reserve of losses that occurred but not declared using the chain ladder method without adjustment for inflation in the form according to Appendix 9 to the Requirements shall be constructed by summing up the declared but not settled losses and accumulated amounts of payments (paid losses) at the end of each period of loss occurrence, used to construct the triangle of accumulated losses, according to the Table of accumulated losses based on losses incurred of the Distribution of obligations of an insurance (reinsurance) company based on losses incurred in accordance with Appendix 12 to the Requirements.

      If the actuary allocates the insurer's obligations based on the losses incurred when calculating the RONYL using actuarial methods, the Table of accumulated losses with adjustment for inflation for the past periods of Calculation of the reserve of losses that occurred but not declared using the chain ladder method with adjustment for inflation in accordance with Appendix 10 to the Requirements shall be constructed by summing up the declared but not settled losses and accumulated amounts of payments (paid losses) at the end of each period of losses used to construct the triangle of accumulated losses, according to the Table of accumulated losses based on losses incurred of the Distribution of obligations of an insurance (reinsurance) company based on losses incurred in accordance with Appendix 12 to the Requirements.

      If the actuary allocates the insurer's obligations based on the losses incurred when calculating the RONYL using actuarial methods, the Table of accumulated losses of Calculation of the reserve of losses that occurred but not declared using the Bornhuetter-Ferguson method in accordance with Appendix 11 to the Requirements shall be constructed by summing up the declared but not settled losses and accumulated amounts of payments (paid losses) at the end of each period of loss used to construct the triangle of accumulated losses, according to the Table of accumulated losses based on losses incurred of the Distribution of obligations of an insurance (reinsurance) organization based on losses incurred in accordance with Appendix 12 to the Requirements;

      RONFL- reserve of losses occurred, but not fully declared, which is calculated by the beneficiary, for which the insurance payment was made in connection with establishment of the degree of LPA.

      RONFL is formed for the purpose of assessment of the expected obligations, related to extension (re-certification) of the degree of LPA, adopted by an insurance (reinsurance) company under the contracts of insurance (reinsurance).

      RONFL is equal to the sum of the forecasted payments associated with extension (re-certification) of the degree of LPA, determined individually for each beneficiary, whom the degree of LPA is established or by whom re-extension (re-certification) of the degree of LPA is expected.

      Calculation of RONFL is carried out in accordance with the Rules of calculation of annuity payments under the annuity contract and the requirements to the annuity contract and permissible level of the insurer's costs for business on the concluded contracts of annuity, approved by the resolution of the Board of Agency of Republic of Kazakhstan on regulation and supervision of financial market and financial organizations dated March 1, 2010 № 28, registered in the Register of state registration of regulatory legal acts under № 6156.

      For the purpose of assessing the forecasted payments for each beneficiary, extension of the period for establishing the degree of LPA is carried out until the retirement age established by the Law of the Republic of Kazakhstan dated June 21, 2013 "On pension provision in the Republic of Kazakhstan", with a probability of 100 (one hundred) percent.

      The actuary if necessary, excludes from calculation of RONFL the estimated amount of forecasted payments by the beneficiary if the insurance (reinsurance) company has not received an application on conclusion of the annuity contract in connection with re-extension (re-certification) of the degree of LPA of the beneficiary within 2 (two) years after expiry of the contract annuity, according to which annuity payments in favor of the beneficiary were carried out.

      In case of acceptance and (or) transfer to reinsurance of obligations under insurance contracts, concluded in accordance with the Law on compulsory insurance of an employee from accidents, the reinsurer shall submit the parameters of the reserve basis, used in calculation of the RONFL to the reinsurer-resident of the Republic of Kazakhstan by specifying such parameters in the reinsurance contract and (or) the contract concluded through intermediaries.

      Parameter values of the reserve basis used by the reinsurer-resident of the Republic of Kazakhstan in calculation of RONFL coincide with parameter values of the reserve basis, used by the reinsurer in calculation of RONFL, except in the case when the reserve basis of the reinsurer-resident of the Republic of Kazakhstan is more conservative than a reserve basis of the reinsurer.

      15. In order to equalize the factors of losses development when calculating the RONL and (or) RONYL by actuarial methods, the actuary, if necessary, makes adjustment of the loss under the insurance (reinsurance) contract, which is large, according to the methodology for determining major losses, developed by the actuary of an insurance (reinsurance) company.

      If the actuary makes adjustments of the loss, the methodology for determining major losses shall be submitted by the actuary to the National Bank of the Republic of Kazakhstan within the term, established by paragraph 4 of the Requirements.

      If changes and (or) additions are made to the methodology for determining major losses, this methodology with changes and (or) additions shall be submitted to the National Bank of the Republic of Kazakhstan within 5 (five) working days from the date of making these changes and (or) additions to it by the actuary.

      16. Under the contracts of voluntary insurance, the insured object of which is the property interest of the employee, whose life and health were injured as a result of an accident that led to establishment of the degree of LPA to him/her, the actuary shall carry out the increase RODL in the amount of obligations of an insurance (reinsurance) company, connected with extension (re-certification) of the degree of disability, deterioration of the health of the beneficiary (hereinafter – additional obligations).

      Total amount of additional obligations is equal to the amount of forecasted payments, determined individually for each beneficiary whom the degree of LPA is established or who is expected to re-extension (re-certification) of the degree of LPA, multiplied by the correction coefficient, calculated on the basis of statistical data of the insurance (reinsurance) company, using the probability of prolongation for a similar group of losses.

      17. The actuary shall make the decision on determining the amount of RONL separately for each insurance class and RONYL for class of compulsory insurance of an employee from accidents upon performance of labour (official) duties based on actuarial methods of calculation, provided by paragraph 11 of the Requirements.

      18. In the case of implementation of activities by class of insurance by an insurance (reinsurance) company, except for compulsory insurance of an employee from accidents upon performance of labour (official) duties, less than 3 (three) years or insufficient data for calculation of RONL using actuarial methods, specified in paragraph 11 of the Requirements, the RONL is not less than 5 (five) percent of the amount of the insurance premium, accrued under the contracts of insurance (reinsurance) and additional agreements to the contracts of insurance (reinsurance), that entered into force for the last 12 (twelve) months, preceding the calculation date.

      19. For the class of mortgage insurance, the value of the RONL is at least 60 (sixty) percent of the amount of the insurance premium, accrued under the contracts of insurance (reinsurance) and additional agreements to the contracts of insurance (reinsurance) that entered into force for the last 12 (twelve) months preceding the calculation date.

      20. Declared, but not settled loss is registered in the journal of accounting of losses (with the exception of the made insurance payments) from the date of statement of the insured (the beneficiary) on occurrence of an insured event and (or) insured case and (or) on making the insurance payment in written form or in the manner prescribed by the laws of the Republic of Kazakhstan on compulsory types of insurance and (or) by the contract.

      The reinsurer (assignor) shall notify the reinsurer on the occurrence of an insured event and (or) insured case within 3 (three) working days from the date of receipt of such a statement by the reinsurer (assignor), unless the reinsurance contract provides otherwise.

      21. The RDNL is formed separately for each declared, but not settled loss, from the date of receipt of statement of the insured (beneficiary) on occurrence of an insured event and (or) an insured event and (or) on making an insurance payment, depending on which date comes earlier, until the date of making an insurance payment or making a decision to refuse to make an insurance payment by the insurer, or a written refusal of the insured to receive an insurance payment, depending on which date comes earlier, but not more than 3 (three) years.

      22. The RDNL is formed in the amount of the declared loss.

      If the insured (beneficiary) and an insurance (reinsurance) company do not have sufficient information about the amount of the loss, the RDNL shall be formed in an amount sufficient for the insurance payment, but not less than the average value of paid claims made for a similar group of insurance cases for the previous financial year or the previous 2 (two) financial years, depending on which of the values is larger.

      If there is no sufficient information about paid claims made for a similar group of insurance cases for the previous financial year or the previous 2 (two) financial years, the RDNL shall be formed in the amount of at least the average market value of paid claims made for the insurance class for the previous financial year or the previous 2 (two) financial years, depending on which of the values is larger.

      Actuary, if necessary, shall make adjustment of the loss, taken into account in calculation of the average (average market) value of paid claims, which is larger, justification for implementation of which shall be submitted by the actuary in accordance with paragraph 4 of the Requirements.

      The size of the RDNL, formed due to the lack of sufficient information about the amount of the loss, shall be recalculated at the end of each financial year based on their size, calculated in accordance with parts two and three of this paragraph.

      If there are documents, confirming the amount of loss, or after the insurance (reinsurance) company receives these documents, the RDNL shall be formed in the amount of the declared and documentally confirmed loss.

      The total amount of the RDNL shall be determined by summing up the RDNL generated for all declared but not settled losses.

      23. The amount of the RDNL shall be increased by the amount of estimated expenses directly related to consideration and settlement of the amount of insurance payments for the declared claims, calculated by the actuary.

      24. If necessary, the calculated amount of the RDNL shall be reduced by the amount of overdue debt of the insured (reinsurer) for payment of an insurance premium (next insurance premium) of an insurance (reinsurance) company on the date of calculation (including the amount of debt under the annuity insurance contract).

      Footnote. Paragraph 24 is in the wording of the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 12.09.2019 № 157 (shall be enforced upon expiry of ten calendar days after its first official publication).

      25. If judicial proceedings on the issue of insurance payments has started in respect of an insurance (reinsurance) company, the RDNL shall be formed in accordance with the procedure established in paragraph 22 of the Requirements, in the period from the date of commencement of judicial proceedings to the date of entry into force of the court decision on the issue of insurance payments, but not earlier than the date of insurance payments.

      26. The actuary increases the amount of insurance reserves by the amount of obligations of an insurance (reinsurance) company, related to occurrence of additional risks under insurance (reinsurance) contracts on the date of calculation, that are not provided for when forming insurance reserves.

Chapter 5. Calculation of insurance reserves in the branch "life insurance"

      27. Calculation of insurance reserves of an insurance (reinsurance) company, carrying out insurance activities in the branch "life insurance" shall be carried out using actuarial methods.

      28. Calculation of insurance reserves of an insurance (reinsurance) company, carrying out insurance activities in the branch "life insurance" shall be performed by the actuary separately for each contract of insurance (reinsurance), except for insurance contracts, providing for the condition of the insured's participation in investments, as well as separately by types of contracts of:

      1) non-accumulative life insurance (reinsurance);

      2) accumulative life insurance (reinsurance);

      3) annuity, for which the terms of beginning of insurance payments occur after the settlement date;

      4) annuity, for which the terms of beginning of insurance payments occurred before the settlement date.

      29. Calculation of insurance reserves of insurance (reinsurance) company, carrying out insurance activity in the branch "life insurance", according to the class of accident insurance, the class of health insurance, and the class of compulsory insurance of an employee from accidents upon performance of labour (official) duties shall be carried out by the actuary in accordance with paragraphs 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 and 26 of the Requirements.

      30. Calculation of insurance reserves shall be carried out on the basis of a reserve basis, taking into account the terms of insurance contracts.

      31. The reserve basis is established taking into account differences in the conditions of the contract of insurance (reinsurance), in particular, depending on the list of insurance cases, the validity period, the procedure and terms of payment of insurance premiums, the terms of insurance payments, as well as other factors that objectively affect the degree of risk accepted for insurance.

      32. The reserve basis includes the following parameters:

      1) effective annual interest rate;

      2) tables of mortality, morbidity and disability used by an insurance (reinsurance) company for calculation of insurance reserves;

      3) absolute value or share of the insurer's future expenses for servicing insurance contracts (future expenses for conducting business), as well as the share of expenses for making insurance payments as a percentage of the insured sum (hereinafter-expenses indicators);

      4) indexation rates of insurance payments.

      33. The values of the reserve basis parameters coincide with the values of the tariff basis parameters, except for the case when the reserve basis is more conservative than the tariff basis.

      If the reserve basis is more conservative than the tariff basis:

      the effective annual interest rate of the reserve basis is less than the effective annual interest rate of the tariff basis;

      the coefficients of the table of mortality, morbidity, disability under life insurance contracts of the reserve basis exceeds the coefficients of the corresponding tables of tariff basis for all ages;

      the coefficients of the table of mortality, morbidity, and disability for annuity insurance contracts of the reserve basis are less than the coefficients of the corresponding tables of the tariff basis for all ages;

      the rates of administrative expenses of the reserve basis exceed the corresponding rates of the tariff basis;

      the reserve basis indexation rate is higher than the tariff basis indexation rate.

      This paragraph does not apply to:

      annuity contracts, concluded in accordance with the Law on compulsory insurance of an employee from accidents before January 1, 2011;

      other contracts in the branch "life insurance" concluded before January 1, 2015

      34. When calculating insurance reserves, the actuary under all existing contracts uses an effective annual interest rate of not more than:

      1) 4 (four) percent if the insurance currency is a foreign currency;

      2) 6 (six) percent if the insurance currency is the national currency.

      35. When calculating insurance reserves, the actuary uses the indexation rate if the insurance (reinsurance) contract provides for indexation.

      For pension annuity contracts, the actuary uses an indexation rate of at least 5 (five) percent.

      36. Selection of tables of mortality, morbidity, and disability shall be made taking into account the specifics of the insurance risk under the insurance contract, based on the characteristics of the insured and (or) the beneficiary.

      When calculating the RNL under pension annuity contracts:

      concluded before July 1, 2017, indicators that do not exceed the death rate are used for calculating insurance payments under the pension annuity contract in accordance with Appendix 13 to the Requirements;

      concluded after July 1,2017, indicators that do not exceed mortality rates are used for calculating insurance payments under the pension annuity contract, specified in Appendix 2 to the Methodology for calculating the insurance premium and insurance payment under the pension annuity contract, approved by the resolution of the Board of the National Bank of the Republic of Kazakhstan dated October 20, 2015 № 194 "On approval of the standard pension annuity contract, establishing the Methodology for calculating the insurance premium and insurance payment from the insurance company under the pension annuity contract, acceptable level of expenses of the insurance company for conducting business under the concluded pension annuity contracts, as well as the indexation rate of insurance payment", registered in the Register of state registration of regulatory legal acts under № 12318.

      37. The RNL for the contracts of life insurance (reinsurance) shall be calculated as the amount of reserves for non occurred losses for all existing contracts of life insurance (reinsurance) on the date of calculation.

      38. The RNL on a separate contract of life insurance (reinsurance), except for the insurance contract, providing for the condition of the insured's participation in investments, is equal to the maximum value of the following two values:

      1) RNL 1 = PevP + PevAP + PevOE - PevIC,

      where:

      PevP – presented expected value of insurance payments stipulated by the terms of the insurance (reinsurance) contract;

      PevAP – presented expected value of expenses of an insurance (reinsurance) company that are directly related to consideration, settlement, and determination of the amount of insurance payments;

      PevOE – presented expected value of operating expenses of an insurance (reinsurance) company related to conducting of the business;

      PevIC – presented expected value of insurance contributions (for a one-time payment-the insurance premium), which are subject to receipt by the insurance (reinsurance) company after the date of calculation;

      2) RNL 1 = PevP-PevINC

      where:

      PevP – presented expected value of insurance payments stipulated by the terms of the contract of insurance (reinsurance) only when an insurance event occurs (excluding insurance payments made after the period established by the insurance contract);

      PevINP – presented expected value of insurance net of contributions (for a lump sum payment – insurance net premium), which subject to receipt by an insurance (reinsurance) company after calculation date for adoption of its obligations solely by making insurance payments related to occurrence of the insured case (excluding insurance payments made upon expiry of the period, established by the insurance contract).

      39. When calculating the presented expected value, the reserve basis parameters, specified in paragraph 32 of the Requirements shall be used.

      40. The RNL for annuity contracts is calculated as the amount of the reserve for non occurred losses for all acting annuity contracts on the date of calculation.

      41. The RNL for a separate annuity contract is equal to the following value:

      RNL = PevP + PevOE - PevIC,

      where:

      PevP – presented expected value of insurance payments stipulated by the terms of the annuity contract;

      PevOE – presented expected value of operating expenses of an insurance (reinsurance) company, related to conducting business under an annuity contract;

      PevIC – presented expected value of insurance contributions (for a lump sum payment-the insurance premium), which are subject to receipt by an insurance (reinsurance) company after the date of calculation. For an annuity contract, on which the start date of insurance payments occurred before the calculation date, the PevIC is zero.

      42. In increasing of the amount of regular insurance payments under the annuity contracts, the RNL is determined:

      during the period of insurance payments - in accordance with paragraph 41 of the Requirements. Calculation of the presented expected value of insurance payments is carried out taking into account the increase in the amount of insurance payments made;

      during the accumulation period - in accordance with paragraph 41 of the Requirements, taking into account the increase in the amount of insurance payments under the annuity contract at the expense of additional incomes of an insurance (reinsurance) company.

      43. When calculating the presented expected value, the reserve basis parameters specified in paragraph 32 of the Requirements shall be used.

      44. The RONL for non-accumulative life insurance (reinsurance) contracts is calculated by the actuary in accordance with paragraphs 10, 11, 12, 13, 14, 17, 18, 19 and 26 of the Requirements.

      45. The RONL for annuity contracts, as well as for accumulative life insurance (reinsurance) contracts, is zero.

      46. The RDNL for life insurance (reinsurance) contracts is calculated by the actuary in accordance with paragraphs 20, 21, 22, 23, 24 and 25 of the Requirements.

      47. The RDNL for annuity contracts is zero.

Chapter 6. Share of the reinsurer in the insurance reserves

      Paragraph 1. The branch "general insurance"

      48. The share of the reinsurer in the RNL is calculated separately for each insurance (reinsurance) contract.

      49. For proportional reinsurance contracts, the share of the reinsurer in the RNL is determined for each insurance (reinsurance) contract as the product of the coefficient and the RNL under the insurance (reinsurance) contract at the reporting date.

      The share of the reinsurer in the RNL = bRE RNL, where:

      the coefficient bRE is equal to the ratio of the insurance premium under the reinsurance contract to the insurance premium under the insurance contract.

      When calculating prudential standards in accordance with resolution № 304 in the coefficient bRE, the insurance premium under the reinsurance contract is taken into account, except for the commission fee to the assignor, the insurance broker under the contract of reinsurance (insurance) and other reimbursements, payments to insurance intermediaries and other persons from the reinsurer that are not related to insurance protection on risks, transferred to reinsurance.

      The amount of the commission remuneration of the insurance broker also includes the difference between the insurance premium, accepted by the insurance broker from the reinsurer under the insurance contract and the insurance premium, transferred to the reinsurer under the reinsurance contract.

      The reinsurer's share in the RNL under non-proportional reinsurance contracts is calculated according to the terms of the reinsurance contract.

      When calculating prudential standards in accordance with resolution № 304, the reinsurer's share in the RNL under non-proportional reinsurance contracts is calculated according to the terms of the reinsurance contract or equal to 0 (zero).

      Footnote. Paragraph 49 is in the wording of the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 12.09.2019 № 157 (shall be enforced upon expiry of ten calendar days after its first official publication).

      49-1. When calculating prudential standards in accordance with resolution № 304, the share of the reinsurer in RNL under the reinsurance contract, the terms of which provide for a minimum deposit premium (or deposit premium) (hereinafter MDP), subject to recalculation (adjustment) upon expiration of the reinsurance contract at the appropriate rate of recalculation, shall be determined based on the amount of insurance premium (non-MDP) accrued to the reinsurer at the specified rate of recalculation, or equal to 0 (zero).

      When calculating prudential standards in accordance with resolution № 304 the share of reinsurers in RNL under the reinsurance contract, the terms of which provide for a MDP is not subject to recalculation (adjustment) upon expiration of the reinsurance contract, and (or) the condition that in case of early termination of the contract of reinsurance (the cover notes), part of the premium is nonrefundable, is equal to 0 (zero) in the amount not subject to repayment at the reporting date.

      The Requirements are supplemented by paragraph 49-1 in accordance with the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 12.09.2019 № 157 (shall be enforced upon expiry of ten calendar days after its first official publication).

      50. The share of the reinsurer in RONL is determined by an actuary separately for each insurance class as the difference between the RONL subject to the reinsurer's share and RONL excluding reinsurer's share, calculated in accordance with paragraphs 10, 11, 12, 13, 14, 15, 16, 17, 18, 19 and 26 of the Requirements.

      The share of the reinsurer in the value of forecasted payments, calculated in accordance with paragraph 14 of the Requirements is determined by the actuary separately for each beneficiary in accordance with the terms of the reinsurance contract.

      51. The calculation method selected for calculating the RONL taking into account the reinsurer's share, using coefficients of the losses development, used for calculating the RONL taking into account the reinsurer's share, is used for calculation the RONL without taking into account the reinsurer's share.

      In case of calculation of the RONL in accordance with paragraph 18 of the Requirements, the share of the reinsurer in the RONL is equal to the product of the interest rate, used in calculation of the RONL taking into account the share of the reinsurer in accordance with paragraph 18 of the Requirements and reinsurance premium, accrued for insurance contracts and additional agreements to the insurance contracts, transferred in reinsurance and entered into force for the last 12 (twelve) months preceding the date of calculation.

      52. The reinsurer's share in the RDNL is calculated based on the amount of losses that are subject to compensation from the reinsurance company, according to the terms of the reinsurance contract.

      53. Under the contracts of reinsurance (additional agreements), the reinsurer's share in insurance reserves is equal to 0 (zero), except for the cases when the insurance (reinsurance) company has a confirmation of the reinsurer (reinsurers) in written form about their acceptance of reinsurance risks (acceptance), indicating all conditions of reinsurance (including the amount of the insurance premium accepted by the reinsurer, obligations under the reinsurance contract, the liability limit, the assignor's commission, the commission of an insurance broker).

      As confirmation of the reinsurer (reinsurers) about the acceptance by him/her (them) of risks for reinsurance (acceptance) before receiving the reinsurance contract, a reinsurance covernote or reinsurance slip with a subscription list, complying with the requirements of the regulatory legal act of the authorized body, determining the conditions and procedure for carrying out activities of the insurance broker in accordance with paragraph 9 of Article 17 of the Law is also accepted.

      If the insurance (reinsurance) company has the confirmation of the reinsurer (reinsurers) provided for by this paragraph, the reinsurer's share in the following insurance reserves, if necessary, is formed in accordance with the following conditions:

      in the RNL:

      the size of the insurance premium under the contract of optional reinsurance at the moment of transfer of insurance risk does not exceed the amount of the premium under the insurance contract, except for the case of exceeding as the result of currency fluctuations, performance of an obligation under the contract of reinsurance;

      the contract of reinsurance does not provide for the transfer of less than 10 (ten) percent of the liability and more than 50 (fifty) percent of the insurance premium;

      the contract of insurance does not contain a condition on the receipt by an affiliate of the reinsurer and (or) an affiliate of the insurer, except for the reinsurer and the insured, a part of the insurance premium, profit, and (or) a positive difference between the reinsurer's income and expenses under the contract or group of reinsurance contracts;

      in insurance reserves:

      at the reporting date under the contract of optional reinsurance there is no accounts receivable, related to reimbursement of the insurance payment in the insurance case by the reinsurer, overdue for more than 90 (ninety) days from the date of billing the requirement to the reinsurer or insurance broker about compensation insurance payment by the reinsurer;

      the reinsurer is not registered in offshore zones;

      at the reporting date, the reinsurer is not included in the register of prohibited insurance (reinsurance) companies that are non-residents of the Republic of Kazakhstan.

      54. When calculating prudential standards in accordance with resolution № 304, the share of the reinsurer in insurance reserves under the contracts of reinsurance, providing for the transfer of all or part of the insurance risks to reinsurance under the contracts of compulsory insurance of civil-legal liability of vehicle owners is 0 (zero).

      The requirements of paragraph 53 of the Requirements do not apply to reinsurance contracts, providing for the transfer of catastrophic risks.

      Footnote. Paragraph 54 is in the wording of the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 12.09.2019 № 157 (shall be enforced upon expiry of ten calendar days after its first official publication).

Paragraph 2. Branch "life insurance"

      55. Calculation of the reinsurer's share in insurance reserves under non-accumulative contracts of life insurance (reinsurance) shall be carried out in accordance with paragraphs 48, 49, 50, 51, 52, 53 and 54 of the Requirements.

      56. The share of the reinsurer in the RNL under accumulative contracts of life insurance (reinsurance) and annuity insurance contracts shall be determined based on the share of liability under the insurance contract transferred to reinsurance, and is calculated in accordance with paragraphs 37, 38, 39 and 40 of the Requirements, or based on the amount of the insurance premium (insurance contributions) under the reinsurance contract.

      57. The share of the reinsurer in the RDNL under the contracts of accumulative life insurance (reinsurance) shall be determined in accordance with paragraph 52 of the Requirements.

  Appendix 1
  to the Requirements for formation,
  method of calculation of insurance
  reserves and their structure

Journal of accounting the existing contracts of insurance
(reinsurance) and contracts, transferred to reinsurance
in the branch "general insurance"
Reporting period: as of "___" "________________" 20__ year

      Index: FORMA-1

      Periodicity: quarterly

      Represents: insurance (reinsurance) company

      Where the form is submitted: National Bank of the Republic of Kazakhstan

      Submission date: quarterly, no later than the tenth working day of the month following the reporting quarter.

  Form

Insurance class

Type of insurance

Insurer

Residence status of the insurer

Business identification number and (or) individual identification number of the insurer

Reinsurer

Beneficiary

1

2

3

4

5

6

7

8









      continuation of the table:

Business identification number and (or) individual identification number of the beneficiary

Number of insurance objects

Number of the insurance contract (policy) and (or) additional agreement

Date of conclusion of the insurance contract and (or) additional agreement

The effective date of the insurance contract and (or) additional agreement

Expiration date of the insurance contract and (or) additional agreement

The effective date of the insurance protection

Expiration date of the insurance protection

9

10

11

12

13

14

15

16









      continuation of the table:

The amount of the insurance sum
(in tenge)

The amount of the insurance premium under the insurance contract
(in tenge)

Name of the insurance broker, agent (surname, name, patronymic
(if any)

The amount of commission remuneration
(in tenge)

Reserve of unearned premiums

Number of the reinsurance contract

The insured sum of the insurer - resident of the Republic of Kazakhstan
(in tenge)

The insured sum of the reinsurer – non- resident of the Republic of Kazakhstan (in tenge)

Reinsurance premium to a resident of the Republic of Kazakhstan under the contract of reinsurance
(in tenge)

17

18

19

20

21

22

23

24

25










      continuation of the table:

Reinsurance premium to a non-resident of the Republic of Kazakhstan under the contract of reinsurance (in tenge)

Date of conclusion of the reinsurance contract

The effective date of the reinsurance contract

Expiration date of the reinsurance contract

The effective date of the insurance protection under the reinsurance contract

Expiration date of the insurance protection under the reinsurance contract

26

27

28

29

30

31







      continuation of the table:

Type of reinsurance (optional and (or) obligatory),
Form of reinsurance (proportional and (or) disproportionate)

Name of the reinsurer

Rating of the reinsurer

Rating agency

Amount of commission from the reinsurer
(in tenge)

Commission remuneration of the insurance broker under the reinsurance contract

Reserve of unearned premiums of the reinsurer

in percentage

Sum (in tenge)

Name of the broker

32

33

34

35

36

37

38

39

40










      The first head or person, authorized to sign the report

      _______________________________________________________________ __________

      surname, name, patronymic (if any) (electronic digital signature)

      Phone number:_________________________

      Date of signing the report "___" __________ 20 ___ year

      Note: an explanation on completing the form for collecting administrative data is provided in the Appendix to this form.

  Appendix to the form
of accounting journal of existing
contract of insurance
(reinsurance) and contracts,
transferred to reinsurance,
in the branch "general insurance"

Explanation on filling out the form for collecting administrative data

Journal of accounting the existing contracts of insurance (reinsurance)
and contracts, transferred to reinsurance in the branch "general insurance"
Chapter 1. General provisions

      1. This explanation shall determine the unified requirements on filling out the form intended for collecting administrative data,

      "Journal of accounting the existing contracts of insurance (reinsurance) and contracts, transferred to reinsurance, in the branch “general insurance" (hereinafter-the Form).

      2. The form is developed in accordance with paragraph 2 of Article 74 of the Law of the Republic of Kazakhstan dated December 18, 2000 "On Insurance Activities "(hereinafter-the Law).

      3. The form is prepared quarterly by the insurance (reinsurance) company and is filled in as of the end of the reporting period. The data in the Form is specified in tenge.

      4. The form is signed by the first head or the person authorized to sign the report.

Chapter 2. Explanation for filling out the Form

      5. The Form indicates the existing insurance (reinsurance) contracts and all additional agreements concluded to them, if there are several additional agreements, information on each additional agreement is provided in a separate line.

      6. The name of the insurance class in column 2 of the Form is indicated in full in accordance with the name provided for in Article 6 of the Law and legislative acts of the Republic of Kazakhstan regulating obligatory types of insurance.

      7. Information on insurance (reinsurance) contracts is indicated without taking into account adjustments of additional agreements.

      8. If the contract of insurance is reinsured in several reinsurance companies, the information for each reinsurance contract shall be indicated in a separate line, while the information for the insurance contract, indicated in the columns 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15 and 16 of the Form is subject to be reflected in each line.

  Appendix 2
to the Requirements for formation,
method of calculating of insurance
reserves and their structure

Form for collecting administrative data
Journal of accounting losses (with the exception of the made insurance payments)
Reporting period: as of "___" "________________" 20__ year

      Index: FORMA-2

      Periodicity: quarterly

      Represents: insurance (reinsurance) company

      Where the form is submitted: National Bank of the Republic of Kazakhstan

      Submission date: quarterly, no later than the tenth working day of the month following the reporting quarter.

  Form

Insurance class

Type of insurance

Insurer

Business identification number and (or) individual identification number of the insurer

Reinsurer

Beneficiary

Business identification number and (or) individual identification number of the beneficiary

1

2

3

4

5

6

7

8









      continuation of the table:

Number of the contract (insurance policy)

The effective date of the insurance contract

Expiration date of the insurance contract

Start date of insurance protection

End date of insurance protection

Date of occurrence of an insurance event and (or) an insurance case

Date of notification to the insurer about the occurrence of an insurance event and (or) an insurance case

9

10

11

12

13

14

15








      continuation of the table:

Type of notification to the insurer about the occurrence of an insurance event and (or) an insurance case (primary and (or) repeated)
 

The amount of the declared loss
(in tenge)

Brief description of the insurance event and (or) the insurance case

The amount of the insurer's expenses for settlement of the loss
(in tenge)

The amount of the insurer's (reinsurer's) debt on payment of insurance premium (insurance contributions) tо an insurance (reinsurance) company as of the calculation date

The average value of settled payments made for a similar group of insurance cases (for the cases provided for in parts two and three of paragraph 22 of the Requirements)

16

17

18

19

20

21







      continuation of the table:

Date of the decision to refuse to make insurance payments by the insurer

Date of receipt of the court summons (notice) and (or) statement of claim

RDNL

Date of the court's decision/date of entry into force of the court's decision

The plaintiff's claims are satisfied with the court's decision (yes, no)

Name of the reinsurer

Number of the reinsurance contract

Type of reinsurance (optional and (or) obligatory),
Form of reinsurance (proportional and (or) disproportionate

The share of the reinsurer in the in RDNL
(in tenge)

22

23

24

25

26

27

28

29

30










      The first head or person, authorized to sign the report

      _______________________________________________________________ __________

      surname, name, patronymic (if any) (electronic digital signature)

      Phone number:_________________________

      Date of signing the report "___" __________ 20 ___ year

      Note: an explanation on completing the form for collecting administrative data is provided in the Appendix to this form.

  Appendix
to the form of the journal
for accounting losses (except for
made insurance payments)

Explanation for filling out the form for collecting administrative data
Journal of accounting losses (except for made insurance payments)
Chapter 1. General provisions

      1. This explanation shall determine the unified requirements on filling out the form intended for collecting administrative data,

      "Journal of accounting losses (except for made insurance payments" (hereinafter-the Form).

      2. The form is developed in accordance with paragraph 2 of Article 74 of the Law of the Republic of Kazakhstan dated December 18, 2000 "On Insurance Activities "(hereinafter-the Law).

      3. The form is prepared quarterly by the insurance (reinsurance) company and is filled in as of the end of the reporting period. The data in the Form is specified in tenge.

      4. The form is signed by the first head or the person authorized to sign the report.

Chapter 2. Explanation for filling out the Form

      5. If the insurance contract is reinsured in several reinsurance companies, the information for each reinsurance contract shall be indicated in a separate line, while the information for the insurance contract indicated in the columns 2, 3, 4, 5, 6, 7, 8, 9 and 10 of the Form subject to be reflected in each line.

      6. The name of the insurance class in column 2 of the Form is indicated in full in accordance with the name provided for in Article 6 of the Law and legislative acts of the Republic of Kazakhstan regulating obligatory types of insurance.

      7. Information on losses, settled in the form of refusal in making insurance payments is indicated for the last 12 (twelve) months preceding the reporting date.

      8. The losses declared in connection with extension (re-certification) of the degree of loss of professional ability to work, deterioration of the health of a beneficiary under the annuity contracts, concluded in accordance with Articles 19 and 23 of the Law of the Republic of Kazakhstan dated 7 February 2005 "On Compulsory Insurance of an Employee from Accidents upon Performance of Labour (Official) Duties by them", the date in column 14 of the Form shall be indicated according to the date of the accident, specified in the act on accident, upon the death or establishment of the degree of loss of professional ability to work as a result of labour injury or according to the date of conclusion of a healthcare organization, providing specialized medical, expert assistance in the field of professional pathology, upon establishing tо an employee of the degree of loss of professional ability to work as the result of revealing a professional disease.

      9. The information in column 16 of the Form is filled in according to the class of compulsory insurance of an employee from accidents upon performance of labour (official) duties.

      10. Column 18 of the Form indicates the name of the covered risk in accordance with the insurance (reinsurance) contract.

      11. Column 23 of the Form indicates information about the date of receipt of the court summons (notice) and (or) the statement of claim, depending on which of the documents will be received by the insurance (reinsurance) company earlier.

      12. Column 25 of the Form indicates information about the dates of the court decision and its entry into force or cancellation in the form of a chronology with the corresponding information next to each date.

  Appendix 3
to the Requirements for formation,
method of calculating insurance
reserves and their structure

      Footnote. Appendix 3 is in the wording of the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 12.09.2019 № 157 (shall be enforced upon expiry of ten calendar days after its first official publication).

      Form for collecting administrative data

      Journal of accounting insurance payments

      Reporting period: as of "___" "__________" 20 __ year

      Index: FORMA-3

      Periodicity: quarterly

      Represents: insurance (reinsurance) company

      Where the form is submitted: National Bank of the Republic of Kazakhstan

      Submission date: quarterly, no later than the tenth working day of the month folloing the reporting quarter.

  Form

Insurance class

Type of insurance

Insurer

Business identification number and (or) individual identification number of the insurer

Reinsurer

Beneficiary

Business identification number and (or) individual identification number of the beneficiary

1

2

3

4

5

6

7

8









      continuation of the table:

Degree of loss of the beneficiary's professional ability to work

Number of the contract (insurance policy)

Date of conclusion of the insurance contract

The effective date of the insurance contract

Expiration date of the insurance contract

Start date of insurance protection

End date of insurance protection

Date of occurrence of an insurance event and (or) an insurance case

Date of notification to the insurer about occurrence of an insurance event and (or) an insurance case

9

10

11

12

13

14

15

16

17










      continuation of the table:

Type of notification to the insurer about the occurrence of an insurance event and (or) an insurance case (primary and (or) repeated)

Amount of the insurer's expenses to settle the loss (in tenge)

Amount of payment
(in tenge)

Date of accrual of the insurance payment amount

The amount of compensation for the recourse claim (in tenge)

Date of reimbursement for subrogation claim

The amount of reimbursement transferred to reinsurer for recourse (in tenge)

18

19

20

21

22

23

24








      continuation of the table:

Date of accrual of compensation to the reinsurer for recourse

Name of the reinsurer

Number of the reinsurance contract

Type of reinsurance (optional and(or) obligatory), form of reinsurance (proportional and (or) disproportionate)

Reinsurer's share in payment
(in tenge)

Date of accrual of reinsurer's share in payment

25

26

27

28

29

30







      The first head or person, authorized to sign the report

      _______________________________________________________________ __________

      surname, name, patronymic (if any) (electronic digital signature)

      Phone number:_________________________

      Date of signing the report "___" __________ 20 ___ year

      Note: an explanation on completing the form for collecting administrative data is provided in the Appendix to this form.

  Appendix to the form
of a journal for accounting
insurance payments

Explanation on filling out the form for collecting administrative data
Journal of accounting insurance payments
Chapter 1. General provisions

      1. This explanation shall determine the unified requirements on filling out the form intended for collecting administrative data,

      "Journal of accounting insurance payments (hereinafter-the Form).

      2. The form is developed in accordance with paragraph 2 of Article 74 of the Law of the Republic of Kazakhstan dated December 18, 2000 "On Insurance Activities "(hereinafter-the Law).

      3. The form is prepared quarterly by the insurance (reinsurance) company and is filled in as of the end of the reporting period. The data in the Form is specified in tenge.

      4. The form is signed by the first head or the person authorized to sign the report.

Chapter 2. Explanation on filling out the Form

      5. Information in the Form is indicated for insurance payments made under insurance (reinsurance) contracts concluded in accordance with Article 23 of the Law of the Republic of Kazakhstan dated February 7, 2005 "On Compulsory Insurance of an Employee from Accidents upon Performance of Labour (Official) Duties by them" (hereinafter - the Law of CIA), from January 1, 2008 and under other insurance (reinsurance) contracts for at least 3 (three) years preceding the reporting date.

      6. Information on each insurance payment shall be indicated in a separate line.

      7. The name of the insurance class in column 2 of the Form is indicated in full in accordance with the name provided for in Article 6 of the Law and legislative acts of the Republic of Kazakhstan regulating obligatory types of insurance.

      8. If the insurance contract is reinsured in several reinsurance organizations, the information for each reinsurance contract shall be indicated in a separate line, while the information for the insurance contract indicated in the columns 2, 3, 4, 5, 6, 7, 8, 9, 10 and 11 of the Form, is subject to be reflected in each line.

      9. For payments made in connection with extension (re-certification) of the degree of loss of ability to work, deterioration of the health of a beneficiary under the annuity contracts, concluded in accordance with Articles 19 and 23 of the Law of CIA, the information in column 16 of the Form shall be indicated according to the date of the accident, specified in the act on accident, specified in the act on accident, upon the death or establishment of the degree of loss of professional ability to work as a result of labour injury or according to the date of conclusion of a healthcare organization, providing specialized medical, expert assistance in the field of professional pathology, upon establishing tо an employee of the degree of loss of professional ability to work as the result of revealing a professional disease.

      10. The information in columns 9 and 18 of the Form is filled in according to the class of compulsory insurance of an employee against accidents during execution of their labour (service) duties.

  Appendix 4
to the Requirements for formation,
method of calculating insurance
reserves and their structure

Form for collecting administrative data

Journal of accounting the existing contracts of insurance (reinsurance) and contracts, transferred to reinsurance in the branch

      "life insurance"

      Reporting period: as of "___" "________________" 20__ year

      Index: FORMA-4

      Periodicity: quarterly

      Represents: insurance (reinsurance) company

      Where the form is submitted: National Bank of the Republic of Kazakhstan

      Submission date: quarterly, no later than the tenth working day of the month following the reporting quarter.

  Form

Insurance class

Type of insurance

Insurer

Business identification number and (or) individual identification number of the insurer

Reinsurer

Number of the insured

Number of insurance contract (policy)

Date of birth of the insured person

Gender of the insured person

Date of conclusion of insurance contract and (or) additional agreement

1

2

3

4

5

6

7

8

9

10

11












      continuation of the table:

The effective date of the insurance contract and (or) additional agreement

Expiration date of the insurance contract and (or) additional agreement

The effective date of insurance protection under the insurance contract

Expiration date of insurance protection under the insurance contract

Availability of an additional agreement under the contract of insurance
(yes, no)

The amount of the insured sum
(in tenge)

The amount of the insurance premium under the insurance contract
(in tenge)

Periodicity of the insurance premium

Start date of payment of insurance contributions

End date of payment of insurance contributions

The amount of insurance payment (in tenge)

12

13

14

15

16

17

18

19

20

21

22












      continuation of the table:

Periodicity of insurance payments

Start date of insurance payments

End date of insurance payments

The rate of return of the reserve basis
(in percentage)

The amount of expenses from the insurance premium (in percentage)

The amount of expenses from the insurance payment (in percentage)

Name of the intermediary (surname, name, patronymic
(if any)

The amount of commission fee (in tenge)

RNL

Number of the reinsurance contract (reinsurance policy)

Insurance amount of the reinsurer-resident of the Republic of Kazakhstan
(in tenge)

23

24

25

26

27

28

29

30

31

32

33












      continuation of the table:

Insurance amount of a reinsure non-resident r of the Republic of Kazakhstan
(in tenge)

Reinsurance premium to a resident of the Republic of Kazakhstan under the contract
(in tenge)
 

Reinsurance premium to a non-resident of the Republic of Kazakhstan under the contract
(in tenge)

Date of conclusion of the reinsurance contract

The effective date of the reinsurance contract

Expiration date of the reinsurance contract

The effective date of insurance protection under the reinsurance contract

Expiration date of insurance protection under the reinsurance contract

34

35

36

37

38

39

40

41









      continuation of the table:

Type of reinsurance (optional and (or) obligatory), form of reinsurance (proportional and (or) disproportionate)

Name of the reinsurer

Rating of the reinsurer

Rating agency

The amount of commission from the reinsurer (in tenge)

Commission remuneration of the insurance broker under the reinsurance contract

Reinsurer's
RNL

in percentage

Amount (in tenge)

Name of the broker

42

43

44

45

46

47

48

49

50










      The first head or person, authorized to sign the report

      _______________________________________________________________ __________

      surname, name, patronymic (if any) (electronic digital signature)

      Phone number:_________________________

      Date of signing the report "___" __________ 20 ___ year

      Note: an explanation on completing the form for collecting administrative data is provided in the Appendix to this form.

  Appendix
to the form of journal
for accounting the existing contracts
of insurance (reinsurance) and
the contracts, transferred
in reinsurance, in the branch
"life insurance"

Explanation on filling out the form for collecting administrative data
Journal of accounting the existing contracts of insurance (reinsurance) and contracts,
transferred to reinsurance in the branch "life insurance"
Chapter 1. General provisions

      1. This explanation shall determine the unified requirements on filling out the form intended for collecting administrative data,

      "Journal of accounting the existing contracts of insurance (reinsurance) and contracts, transferred to reinsurance, in the branch "life insurance" (hereinafter-the Form).

      2. The form is developed in accordance with paragraph 2 of Article 74 of the Law of the Republic of Kazakhstan dated December 18, 2000 "On Insurance Activities "(hereinafter-the Law).

      3. The form is prepared quarterly by the insurance (reinsurance) company and is filled in as of the end of the reporting period. The data in the Form is specified in tenge.

      4. The form is signed by the first head or the person authorized to sign the report.

Chapter 2. Explanation on filling out the Form

      5. The Form indicates the existing contracts of insurance (reinsurance) and all additional agreements concluded to them, if there are several additional agreements, information on each additional agreement is provided in a separate line.

      6. If the number of annuities (beneficiaries) under the annuity agreement exceeds the number one, the values for each insured person shall be indicated separately.

      7. The name of the insurance class in column 2 of the Form is indicated in full in accordance with the name provided for in Article 6 of the Law and legislative acts of the Republic of Kazakhstan, regulating obligatory types of insurance.

      8. If the contract of insurance (reinsurance) is reinsured in several reinsurance organizations, the information for each reinsurance contract shall be indicated in a separate line, while the information for the insurance contract indicated in the columns 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14 and 15 of the Form, is subject to be reflected in each line.

  Appendix 5
to the Requirements for formation,
method of calculating insurance

reserves and their structure
Journal of accounting the existing contracts of pension annuity and other types of annuity insurance

      Reporting period: as of "___" ________________ 20__ year

      Index: FORMA-5

      Periodicity: quarterly

      Represents: insurance (reinsurance) company

      Where the form is submitted: National Bank of the Republic of Kazakhstan

      Submission date: quarterly, no later than the tenth working day of the month following the reporting quarter.

  Form

Insurance class

Insurer

Individual identification number of the insurer

Number of the insured

Number of insurance contract (insurance policy)

Date of birth of the insured person

Gender of the insured person

Date of conclusion of the insurance contract

The effective date of the insurance contract

1

2

3

4

5

6

7

8

9

10











      continuation of the table:

Expiration date of the insurance contract

The effective date of the insurance protection

Expiration date of the insurance protection

Availability of an additional agreement under the insurance contract (yes, no)

The amount of insurance premium under the insurance contract
(in tenge)

The amount of a lump sum payment under the annuity contract

The amount of annuity payment as of the report date
(in tenge)

Periodicity of insurance payments

Guaranteed period

Name of the intermediary (surname, name, patronymic
(if any)

11

12

13

14

15

16

17

18

19

20





















      continuation of the table:

The amount of commission remuneration
(in tenge)
 

The amount of expenses from the insurance premium
(in percentage)

The amount of expenses from the insurance payment
(in percentage)

The rate of return of the reserve basis
(in percentage)
 

The indexation rate of the reserve basis
(in percentage)

RNL

Number of the reinsurance contract (reinsurance policy)

Liability of the reinsurer-resident of the Republic of Kazakhstan (in tenge)

21

22

23

24

25

26

27

28









      continuation of the table:

Liability of a reinsurer non-resident of the Republic of Kazakhstan
(in tenge)
 

Reinsurance premium to a resident of the Republic of Kazakhstan under the contract
(in tenge)

Reinsurance premium to a non-resident of the Republic of Kazakhstan under the contract (in tenge)

Date of conclusion of the reinsurance contract

The effective date of the reinsurance contract

Expiration date of the reinsurance contract

The effective date of the insurance protection under the reinsurance contract

Expiration date of the insurance protection under the reinsurance contract

29

30

31

32

33

34

35

36









      continuation of the table:

Type of reinsurance (optional and (or) obligatory),
Form of reinsurance (proportional and (or) disproportionate)
 

Name of the reinsurer

Rating of the reinsurer

Rating agency

The amount of commission from the reinsurer

Commission remuneration of the insurance broker under the reinsurance contract

RNL of the reinsurer

in percentage

amount (in tenge)

name of the broker (surname, name, patronymic
(if any)

37

38

39

40

41

42

43

44

45










      The first head or person, authorized to sign the report

      _______________________________________________________________ __________

      surname, name, patronymic (if any) (electronic digital signature)

      Phone number:_________________________

      Date of signing the report "___" __________ 20 ___ year

      Note: an explanation on completing the form for collecting administrative data is provided in the Appendix to this form.

  Appendix
to the form of journal of
accounting the existing contracts
of pension annuity and other
types of annuity insurance

Explanation for filling out the form for collecting administrative data
Journal of accounting the existing pension annuity contracts and other types of annuity insurance
Chapter 1. General provisions

      1. This explanation shall determine the unified requirements on filling out the form intended for collecting administrative data,

      "Journal of accounting the existing contracts of pension annuity and other types of annuity insurance" (hereinafter-the Form).

      2. The form is developed in accordance with paragraph 2 of Article 74 of the Law of the Republic of Kazakhstan dated December 18, 2000 "On Insurance Activities "(hereinafter-the Law).

      3. The form is prepared quarterly by the insurance (reinsurance) company and is filled in as of the end of the reporting period. The data in the Form is specified in tenge.

      4. The form is signed by the first head or the person authorized to sign the report.

Chapter 2. Explanation for filling out the Form

      5. If there is an additional agreement to the contract of insurance (reinsurance), the information on the contract of insurance (reinsurance), corrected in accordance with the terms of the additional agreement shall be indicated in the Form.

      6. If the number of annuities under annuity contracts exceeds the number one, the values for each insured person shall be indicated separately.

      7. If the contract of insurance (reinsurance) is reinsured in several reinsurance organizations, the information for each reinsurance contract shall be indicated in a separate line.

      8. The name of the insurance class in column 2 of the Form is indicated in full in accordance with the name provided for in Article 6 of the Law and legislative acts of the Republic of Kazakhstan regulating obligatory types of insurance.

  Appendix 6
to the Requirements for formation,
method of calculating insurance
reserves and their structure

Form for collecting administrative data
Journal of accounting the existing annuity contracts concluded in accordance with the
Law of the Republic of Kazakhstan dated February 7, 2005 "On Compulsory Insurance of an
Employee from Accidents upon Performance of Labour (Official) Duties by them"
Reporting period: as of "___" "________________" 20__ year

      Index: FORMA-6

      Periodicity: quarterly

      Represents: insurance (reinsurance) company

      Where the form is submitted: National Bank of the Republic of Kazakhstan

      Submission date: quarterly, no later than the tenth working day of the month following the reporting quarter.

  Form

Insurer

Business identification number and (or) individual identification number of the insurer

Reinsurer

Number of the insured

Number of the contract (insurance policy)

Annuitant (surname, name, patronymic (if any)

Individual identification number of the annuitant

Date of birth of the annuitant

Gender of the annuitant

Date of the insured case

1

2

3

4

5

6

7

8

9

10

11












      continuation of the table:

Date of conclusion of the contract

The effective date of the insurance contract

Expiration date of the insurance contract

Start date of insurance payments

End date of insurance payments

Availability of an additional agreement under the insurance contract (yes, no)

Premium on the annuity (in tenge)

The amount of annuity payment at the report date (in tenge)

The amount of annuity payment at the start date of the annuity payment (in tenge)

Periodicity of annuity payments

The amount of expenses from the insurance premium (in percentage)

The amount of expenses from the insurance payment (in percentage)

12

13

14

15

16

17

18

19

20

21

22

23













      continuation of the table:

Rate of return of the reserve basis (in a percentage)

Indexation rate of the reserve basis (in percentage)

Degree of loss of ability to work
(in percentage)

Degree of disability

Name of the intermediary (surname, name, patronymic
(if any)

The amount of commission remuneration (in tenge)

RNL

24

25

26

27

28

29

30








      continuation of the table:

Number of the reinsurance contract (reinsurance policy)

Type of reinsurance (optional and (or) obligatory), Form of reinsurance (proportional and (or) disproportionate)

Name of the reinsurer

Share of the reinsurer in the annuity premium (in tenge)

31

32

33

34





      The first head or person, authorized to sign the report

      _______________________________________________________________ __________

      surname, name, patronymic (if any) (electronic digital signature)

      Phone number:_________________________

      Date of signing the report "___" __________ 20 ___ year

      Note: an explanation on completing the form for collecting administrative data is provided in the Appendix to this form.

  Appendix to the form
of the journal of accounting the existing
annuity contracts,
concluded in accordance with
Law of the Republic of Kazakhstan
dated February 7, 2005
  "On Compulsory Insurance
of an Employee from
Accidents upon Performance
of Labour (Official) Duties by them"

Explanation on filling out the form for collecting administrative data
Journal of accounting the existing annuity contracts concluded in accordance with the Law
of the Republic of Kazakhstan dated February 7, 2005 "On Compulsory Insurance of an Employee from
Accidents upon Performance of Labour (Official) Duties by them"
Chapter 1. General provisions

      1. This explanation shall determine the unified requirements on filling out the form intended for collecting administrative data, "Journal of accounting the existing contracts of annuity, concluded in accordance with the Law of the Republic of Kazakhstan dated February 7, 2005 "On Compulsory Insurance of an Employee from Accidents upon Performance of Labour (Official) Duties by them" (hereinafter – the Form).

      2. The form is developed in accordance with paragraph 2 of Article 74 of the Law of the Republic of Kazakhstan dated December 18, 2000 "On Insurance Activities "(hereinafter-the Law).

      3. The form is prepared quarterly by the insurance (reinsurance) company and is filled in as of the end of the reporting period. The data in the Form is specified in tenge.

      4. The form is signed by the first head or the person authorized to sign the report.

Chapter 2. Explanation for filling out the Form

      5. If there is an additional agreement to the contract of insurance (reinsurance), the information on the insurance (reinsurance) contract, corrected in accordance with the terms of the additional agreement shall be indicated in the Form.

      6. If the number of annuities under the annuity contracts exceeds the number one, the values for each insured person shall be indicated separately.

      7. Column 19 of the Form indicates the amount of the periodic annuity payment calculated by the annuity contract, taking into account the indexation for the current year

  Appendix 7
to the Requirements for formation,
method of calculating insurance
reserves and their structure

Form for collecting administrative data
Journal of accounting the contracts of insurance (reinsurance) and additional agreements
to insurance (reinsurance) contracts that have entered into force over the past 12 (twelve) months
Reporting period: as of "___" "________________" 20__ year

      Index: FORMA-7

      Periodicity: quarterly

      Represents: insurance (reinsurance) company

      Where the form is submitted: National Bank of the Republic of Kazakhstan

      Submission date: quarterly, no later than the tenth working day of the month following the reporting quarter.

  Form

Class of insurance

Insurer

Status of residence of the insurer

Business identification number and (or)
Individual identification number

Reinsurer

Beneficiary

Business identification number and (or)
Individual identification number of the beneficiary

Number of the contract (insurance policy) and (or) additional agreement

Date of conclusion of the insurance contract and (or) additional agreement

1

2

3

4

5

6

7

8

9

10











       continuation of the table:

The effective date of the insurance contract and (or) additional agreement

Expiration date of the insurance contract and (or) additional agreement
 

Start date of the insurance protection

End date of the insurance protection

The amount of the insurance sum under the insurance contract
(in tenge)

The amount of the insurance premium under the insurance contract
(in tenge)

Name of the insurance broker, agent (surname, name, patronymic
(if any)

The amount of commission remuneration
(in tenge)

Date of termination

The number of the contract of reinsurance

11

12

13

14

15

16

17

18

19

20











      continuation of the table:

The insured amount of the insurer - resident of the Republic of Kazakhstan
(in tenge)

The insured amount of the reinsurer – non resident of the Republic of Kazakhstan
(in tenge)

Reinsurance premium to a resident of the Republic of Kazakhstan under the contract of reinsurance
(in tenge)

Reinsurance premium to a non-resident of the Republic of Kazakhstan under the contract of reinsurance
(in tenge)

Date of conclusion of the reinsurance contract

The effective date of the reinsurance contract

Expiration date of the reinsurance contract

The effective date of the insurance protection under the reinsurance contract

21

22

23

24

25

26

27

28









       continuation of the table:

Type of reinsurance (optional and (or) obligatory), Form of reinsurance (proportional and (or) disproportionate

Name of the reinsurer

Rating of the reinsurer

Rating agency

Date of termination of the reinsurance contract

The amount of commission from the reinsurer
(in tenge)

Commission remuneration of the insurance broker under the reinsurance contract

in percentage

amount (in tenge)

name of the broker

29

30

31

32

33

34

35

36

37










      The first head or person, authorized to sign the report

      _______________________________________________________________ __________

      surname, name, patronymic (if any) (electronic digital signature)

      Phone number:_________________________

      Date of signing the report "___" __________ 20 ___ year

      Note: an explanation on completing the form for collecting administrative data is provided in the Appendix to this form.

  Appendix
to the form of journal for accounting
contracts of insurance
(reinsurance) and
additional agreements
to the contracts of insurance
(reinsurance), that have entered into
force for the last 12 months
(twelve) months

Explanation on filling out the form for collecting administrative data
Journal of accounting the contracts of insurance (reinsurance) and additional agreements to the contracts
of insurance (reinsurance), that have entered into force over the past 12 (twelve) months
Chapter 1. General provisions

      1. This explanation shall determine the unified requirements on filling out the form intended for collecting administrative data, "Journal of accounting the contracts of insurance (reinsurance) and additional agreements to the contracts of insurance (reinsurance), that have entered into force over the past 12 (twelve) months (hereinafter – the Form).

      2. The form is developed in accordance with paragraph 2 of Article 74 of the Law of the Republic of Kazakhstan dated December 18, 2000 "On Insurance Activities "(hereinafter-the Law).

      3. The form is prepared quarterly by the insurance (reinsurance) company and is filled in as of the end of the reporting period. The data in the Form is specified in tenge.

      4. The form is signed by the first head or the person authorized to sign the report.

Chapter 2. Explanation for filling out the Form

      5. The information on insurance (reinsurance) contracts and all additional agreements that entered into force in the last 12 (twelve) months preceding the reporting date shall be indicated in the form.

      6. The name of the insurance class in column 2 of the Form is indicated in full in accordance with the name provided for in Article 6 of the Law and legislative acts of the Republic of Kazakhstan regulating obligatory types of insurance.

      7. Information on the main contracts of insurance (reinsurance) shall be indicated without taking into account the adjustments of additional agreements.

      8. If there are several additional agreements, the information about each additional agreement shall be provided in a separate line.

      9. If the insurance contract is reinsured in several reinsurance companies, the information for each reinsurance contract shall be indicated in a separate line, while the information for the insurance contract specified in the columns 2, 3, 4, 5, 6, 7, 8, 9 and 10 of the Form, is subject to be reflected in each line.

  Appendix 8
to the Requirements for formation,
method of calculating insurance
reserves and their structure

      Footnote. Appendix 8 is in the wording of the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 12.09.2019 № 157 (shall be enforced upon expiry of ten calendar days after its first official publication).

      Form for collecting administrative data

      Journal of accounting the cost of forecasted payments

      Reporting period: as of "___" "__________" 20 __ year

      Index: FORMA-8

      Periodicity: quarterly

      Represents: insurance (reinsurance) company

      Where the form is submitted: National Bank of the Republic of Kazakhstan

      Submission date: quarterly, no later than the tenth working day of the month following the reporting quarter.

      Form

Class of insurance

Insurer,

Business identification number of the insurer

Reinsurer

Beneficiary

Individual identification number of the beneficiary

Date of birth of the insurer

1

2

3

4

5

6

7

8









      continuation of the table:

Gender of the insurer

Number of the insurance contract

Date of conclusion of the insurance contract

Start date of the insurance contract

End date of the insurance contract

Date of the insurance case

Insurance case (labor injury and (or) professional disease)

The degree of loss of professional ability to work, established initially
(in percentage)

9

10

11

12

13

14

15

16









      continuation of the table:

The degree of loss of professional ability to work at the date of calculation
(in percentage)
 

Number of prolongations at the reporting date

Forecasted start date of annuity payments

Forecasted end date of annuity payments

Periodicity of annuity payments

Amount of average monthly earnings (income) at the date of an accident
(in tenge)

Effective annual rate
(in percentage)

Indexation rate (in percentage)

The amount of expenses from the insurance premium
(in percentage)

17

18

19

20

21

22

23

24

25



















      continuation of the table:

The amount of expenses from the insurance payment
(in percentage)

Expected amount of the annuity payment at the date of the report (in tenge)

The amount of social payment at the date of last extension of the annuity contract
(in tenge)

The degree of fault of the employer in case of gross negligence

RONFL

Name of the reinsurer

Number of the reinsurance contract

Share of the reinsurer in RONFL
(in tenge)

26

27

28

29

30

31

32

33

















      The first head or person, authorized to sign the report

      _______________________________________________________________ __________

      surname, name, patronymic (if any) (electronic digital signature)

      Phone number:_________________________

      Date of signing the report "___" __________ 20 ___ year

      Note: an explanation on completing the form for collecting administrative data is provided in the Appendix to this form.

  Appendix to the form
of journal for accounting the cost
of the forecasted payments

Explanation on filling out the form for collecting administrative data

Journal of accounting the cost of the forecasted payments

Chapter 1. General provisions

      1. This explanation shall determine the unified requirements on filling out the form intended for collecting administrative data, “Journal of accounting the cost of the forecasted payments” (hereinafter – the Form).

      2. The form is developed in accordance with paragraph 2 of Article 74 of the Law of the Republic of Kazakhstan dated December 18, 2000 "On Insurance Activities ".

      3. The form is prepared quarterly by the insurance (reinsurance) company and is filled in as of the end of the reporting period. The data in the Form is specified in tenge.

      4. The form is signed by the first head or the person authorized to sign the report.

Chapter 2. Explanation on filling out the Form

      5. The Form shall indicate the information on the amounts of the cost of forecasted payments, related to re-extension (re-certification) of the degree of loss оf professional ability to work of the beneficiary under the class of compulsory insurance of an employee from accidents upon performance of labour (official) duties, as calculated by the actuary in accordance with paragraph 14 of the Requirements, and under the contracts of voluntary insurance, the insured object of which is the property interest of the employee, whose life and health damaged as a result of an accident, calculated by the actuary in accordance with paragraph 16 of the Requirements.

      6. Column 5 of the Form is subject to completion only if the insurance (reinsurance) company acts as a reinsurer.

      7. Column 21 of the Form is subject to completion by insurance (reinsurance) companies, carrying out insurance activities in the branch "life insurance".

      8. Column 29 of the Form indicates the degree of fault of the employer if the gross negligence of the victim himself contributed to the occurrence or increase of harm.

      9. If the insurance contract is reinsured in several reinsurance organizations, the information for each reinsurer shall be indicated in columns 31, 32 and 33 of the Form as a separate line, while the information specified in the columns 3, 4, 6, 7, 8, 9, 10, 11, 12 and 13 of the Form, is subject to be reflected in each line.

      10. Information in column 14 of the Form is indicated according to the date of the accident, specified in the act on accident, upon death or establishment of the degree of occupational disability to the worker as a result of employment injury or as of the date of conclusion of the healthcare organization, providing specialized medical expert assistance in the field of professional pathology, when establishing to the employee the degree of loss of professional ability to work as a result of identifying a professional disease.

      11. Column 18 of the Form indicates the number of extensions of professional disability at the date of the report (if such information is available).

  Appendix 9
to the Requirements for formation,
method of calculating insurance
reserves and their structure

Calculation of the reserve of occurred but not declared losses using the chain ladder method without adjustment for inflation

      Reporting period: as of "___" "________________" 20__ year

      Form

      Table of losses at the reporting date for _________________________ insurance class

      The table of losses is formed on the basis of __________________________ losses (paid, incurred)

Period of occurrence of insurance cases (i)

Losses for the periods (j)

Periodicity

1

2

n-2

n-1

n

1

Х (1,1)

Х (1,2)


Х (1, n-2)

Х (1, n-1)

Х (1, n)

2

Х (2,1)

Х (2,2)


Х (2, n-2)

Х (2, n-1)

х

3

Х (3,1)

Х (3,2)

Х (3, n-2)

х

х

х

х

х

n-1

Х (n-1,1)

Х (n-1,2)

х

х

х

х

n

Х (n,1)

х

х

х

х

х

      X (i, j) - payments (paid losses) or losses incurred, at the end of the j-th period, for insurance cases that occurred in the i-th period;

      n - the number of periods for which data on payments is considered;

      the Table of losses at the reporting date reflects payments (paid losses) or losses incurred, grouped by the periods of occurrence of insurance cases.

      Table of accumulated losses _________________________ insurance class

Period of occurrence of insurance cases (i)
 

Accumulated losses (j)

1

2

n-2

n-1

n

1

S(1,1)=Х (1,1)

S(1,2) =Х (1,1) + Х (1,2)

S(1,n-2) =Х (1,1) + Х (1,2)+… + Х (1,n-2)

S(1,n-1) = Х (1,1) + Х (1,2)+… + Х (1,n-2) + Х (1,n-1)

S(1,n) =Х (1,1) + Х (1,2)+… + Х (1,n)

2

S(2,1)=Х (2,1)

S(2,2) =Х (2,1) + Х (2,2)

S(2,n-2) =Х (2,1) + Х
(2,2)+… + Х (2,n-2)

S(2,n-1) =Х (2,1) + Х (2,2)+… + Х (2,n-2) + Х (2,n-1)

х

3

S(3,1)=Х (3,1)

S(3,2)=Х (3,1) + Х (3,2)

S(3,n-2) =Х (3,1) + Х(3,2)+… + Х (3,n-2)

х

х

х

х

х

n-1

S(n-1,1)=Х (n-1,1)

S(n-1,2)= Х (n-1,1) + Х (n-1,2)

х

х

х

х

n

S(n,1)= Х (n,1)

х

х

х

х

х

      Note: the Table of accumulated losses indicates the total amounts of payments (paid losses) or losses incurred, grouped by the periods of occurrence of insurance cases.

      Table of coefficients of losses development g(j) _________________________________

      Method of losses development (arithmetic average, average for n - periods, average value)

The period of occurrence of losses (i)

Factors of losses development (j)


1

2

n-2

n-1

n

1





х 

2




х 

х

3



х

х

х

х

х

х

n-1



х

х

х

х

n

x

х

х

х

х

х

Coefficients of losses development
g(j)

g(j)

1

2

n-2

n-1

n

arithmetic average
 






х

average for
n-periods
 






х

average value






х

      Note: the Table of coefficients of losses development determines the factors of losses development F(i,j) corresponding to the relative increase in the total amount of losses from one payment period to the next, using the following formula:

      Factor of losses development = F(i, j)= S (i, j+1)/S (i,j).

      The coefficients of losses development g(j) are calculated as the average value of the losses development factors for the periods of losses occurrence.

      Table of forecasted accumulated losses for ______________________ insurance class

Period of occurrence of insurance cases (i)

Forecasted accumulation of losses


1

2

n-2

n-1

n

1

х

х

х

х

х

х

2

х

х

х

x

x

UL(2,n) = S(2,n-1) * g(n-1)

n-1

х

x

S(n-1,2) * g(2) * … * g(n-3)

S(n-1,2) * g(2) * … * g(n-2)

UL(n-1,n) = S(n-1,2) * g(2) * … * g(n-1)

n

х

S(n,1) * g(1)

S(n,1) * g(1) * g(2) * … * g(n-3)

S(n,1) * g(1) * g(2) * … * g(n-2)

UL(n,n) = S(n,1) * g(1) * g(2) * … * g(n-1)

      Note: the Table of forecasted accumulated losses determines the expected amount of payments or losses incurred in each period.

      The expected amount of payments or losses incurred is calculated as the product of accumulated payments or losses incurred S (i, j-1) in the period of losses occurrence i from the Table of accumulated losses, and the Table of coefficients of losses development g(j).

      Table of losses reserve on _________________________

      class of insurance

Period of occurrence of insurance cases (i)

Forecasted accumulation of losses

The reserve of losses for periods


1

2

n-2

n-1

n

1

х

х

х

х

х

х

x

2

х

х

х

x

x

UL(2,n) = S(2,n-1) * g(n-1)

UL(2,n)-S(2,n-1)

n-1

х

x

S(n-1,2) * g(2) * … * g(n-3)

S(n-1,2) * g(2) * … * g(n-2)

UL(n-1,n) = S(n-1,2) * g(2) * … * g(n-1)

UL(n-1,n)-S(n-1,2)

n

х

S(n,1) * g(1)

S(n,1) * g(1) * g(2) * … * g(n-3)

S(n,1) * g(1) * g(2) * … * g(n-2)

UL(n,n) = S(n,1) * g(1) * g(2) * … * g(n-1)

UL(n, n)-S(n,1)

      Table of the reserve of occurred but not declared losses on ____________________ insurance class

Period of occurrence of insurance cases (i)

Reserve of losses for periods

Declared, but not settled losses

Occurred, but not declared losses

1

2

3

1




2




3







n-1




n




Total




      Note:

      the Table of the reserve of occurred but not declared losses indicates:

      in the column " Reserve of losses for periods" - the values of the losses reserves in the corresponding periods;

      in the column "Declared, but not settled losses" - the amount of declared losses in the corresponding periods;

      in the column "Occurred, but not declared losses" - the difference between the columns " Reserve of losses for periods" and "Declared, but not settled losses" in the corresponding period. If there is a negative difference, the column "Occurred, but not declared losses" takes the value 0 (zero);

      if the calculation is based on payments, then RONL - the sum of occurred but not declared losses referred to in column 3 of the Table of the reserve of occurred, but not declared losses, if the calculation is based on incurred losses, then RONL is the sum of losses reserves for periods.

  Appendix 10
to the Requirements for formation,
method of calculating insurance
reserves and their structure

Calculation of the reserve of occurred, but not declared losses using the chain ladder method with adjustment for inflation

      Reporting period: as of "___" "________________" 20__ year

      Form

      Table of losses at the reporting date for ______________________ insurance class

      The table of losses is formed on the basis of __________________________ losses (paid, incurred)

Period of occurrence
of insurance cases (i)

Losses for periods (j)

Periodicity

1

2

n-2

n-1

n

1







2






х

3





х

х

х

х

х

n-1



х

х

х

х

n


х

х

х

х

х

      Note: the Table of losses at the reporting date reflects payments (paid losses) or losses incurred, grouped by the periods of occurrence of insurance cases.

      Table of information on inflation for each past period

Periods

Inflation for the past period (in percentage)

1


2


3



n-1


n


      Note: the Table of inflation information for each past period indicates the accumulated values of official inflation values for the period of occurrence of insurance cases.

      Table of losses with adjustment for inflation for past periods on ________________

      class of insurance

Period of occurrence
of insurance cases (i)

Losses for periods with adjustment for inflation for past periods (j)


1

2

n-2

n-1

n

1







2






х

3





х

х

х

х

х

n-1



х

х

х

х

n


х

х

х

х

х

      Table of accumulated losses with adjustment for inflation for past periods on _________________

      class of insurance

Period of occurrence
of insurance cases (i)

Accumulated losses with adjustment for inflation for past periods(j)
 


1

2

n-2

n-1

n

1







2






х

3





х

х

х

х

х

n-1



х

х

х

х

n


х

х

х

х

х

      Table of coefficients оf losses development g(j) ________________________________________

      method of losses development (arithmetic average, average for n-periods, average value)

Period of occurrence
of insurance cases (i)

Factors of losses development (j)
 


1

2

n-2

n-1

n

1







2






х

3





х

х

х

х

х

n-1



х

х

х

х

n


х

х

х

х

х

Coefficients of losses development g(j)

g(j)

1

2

n-2

n-1

n

arithmetic average






х

average for n-periods






х

average value






х

      Table of forecasted accumulated losses with adjustment for inflation for past periods on _____________________

      class of insurance

Period of occurrence
of insurance cases (i)

Forecasted accumulation of losses with adjustment for inflation for past periods


1

2

n-2

n-1

n

1

х

х

х

х

х

2

х

х

х

х


3

х

х

х



n-1

х

х




n

х






      Table of the reserve of losses with adjustment for inflation for past periods on _____________________

      class of insurance

Period of occurrence
of insurance cases (i)

Forecasted accumulation of losses with adjustment for inflation for past periods

The reserve of losses for periods


1

2

n-2

n-1

n


1

х

х

х

х

х

0

2

х

х

х

х



3

х

х

х




n-1

х

х





n

х







Reserve of losses with adjustment for inflation for past periods


      Table of reserve of occurred but not declared losses on __________________

      class of insurance

Period of occurrence
of insurance cases (i)

Reserve of losses for periods

Declared but not settled losses

Occurred, but not declared losses

1

2

3

1




2




3







n-1




n




Total




      Note: if in the Table of reserve of occurred but not declared losses, the calculation is based on payments, then RONL- the sum of occurred, but not declared losses, indicated in column 3 of the Table of reserve of occurred, but not declared losses, if the calculation is based on incurred losses, then RONL - the sum of reserve of losses for the periods, indicated in column 1 of the Table of reserve of occurred, but not declared losses;

      the column "Occurred, but not declared losses" indicates the difference between the columns " Reserve of losses for periods" and "Declared, but not settled losses" in the corresponding period. If there is a negative difference, the column "Occurred, but not declared losses" takes value 0 (zero).

  Appendix 11
to the Requirements for formation,
  method of calculating insurance
reserves and their structure

      Footnote. Appendix 11 is in the wording of the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 12.09.2019 № 157 (shall be enforced upon expiry of ten calendar days after its first official publication).

      Calculation of the reserve of occurred, but not declared losses using the Bornhuetter-Ferguson method

      Reporting period: as of "___" "__________" 20 __ year

      Form

      Table of losses at the reporting date on _______________________

      class of insurance

      Table of losses is generated on the basis __________________________ losses

      (paid, incurred)

Period of occurrence
of insurance cases (i)

Losses for periods (j)

Periodicity

1

2

n-2

n-1

n

1

Х (1,1)

Х (1,2)


Х (1, n-2)

Х (1, n-1) 

Х (1, n) 

2

Х (2,1)

Х (2,2)


Х (2, n-2)

Х (2, n-1) 

х

3





х

х

х

х

х

n-1

Х (n-1,1)

Х (n-1,2)

х

х

х

х

n

Х (n,1) 

х

х

х

х

х

      Note:

      X (i, j) - payments (paid losses) or losses incurred, at the end of the j-th period, for insurance cases, that occurred in the i-th period;

      n - number of periods for which data of losses is considered;

      the Table of losses at the reporting date reflects payments (paid losses) or losses incurred, grouped by the periods of occurrence of insurance cases.

      Table of accumulated losses on _______________________

      class of insurance

Period of occurrence
of insurance cases (i)

Accumulated losses (j)

1

2

n-2

n-1

n

1

S(1,1)=Х (1,1)

S(1,2) =(Х (1,1) + Х (1,2)

S(1,n-2) =(Х (1,1) + Х (1,2)+… + Х (1,n-2)

S(1,n-1) =( Х (1,1) + Х (1,2)+… + Х (1,n-2) + Х (1,n-1)

S(1,n) =Х (1,1) + Х (1,2)+… + Х (1,n) 

2

S(2,1)=Х (2,1)

S(2,2) =Х (2,1) + Х (2,2)

S(2,n-2) =(Х (2,1) + Х
(2,2)+… + Х (2,n-2)

 S(2,n-1) =Х (2,1) + Х (2,2)+… + Х (2,n-2) + Х (2,n-1)

х

3

S(3,1)=Х (3,1)

S(3,2)= Х (3,1) + Х (3,2) 

 S(3,n-2) =(Х (3,1) + Х(3,2)+… + Х (3,n-2)

х

х

х

х

х

n-1

S(n-1,1)=Х (n-1,1)

S(n-1,2)= Х (n-1,1) + Х (n-1,2)

х

х

х

х

n

S(n,1)= Х (n,1)

х

х

х

х

х

      Note: the Table of accumulated losses indicates the total payments (paid losses) or losses incurred, grouped by the periods of occurrence of insurance cases.

      Table of coefficients of losses development g(j) _______________________________________

      method of losses development (arithmetic average, average for n - periods, average value)

Period of occurrence of losses (і)

Factors of losses development (j)


1

2

n-2

n-1

n

1





х

2




х

х

3



х

х

х

х

х

х

n-1



х

х

х

х

n

x

х

х

х

х

х

Coefficients of losses development g(j)

g(j)

1

2

n-2

n-1

n

arithmetic average






х

average for n - periods






х

average value






х

      Note: the Table of coefficients of losses development determines the factors of losses development F(I,j) corresponding to the relative increase in the total amount of declared losses from one payment period to the next, using the following formula:

      Factor of losses development F(і,j)= S (і,j+1)/S (і,j).

      The coefficients of losses development g(j) are calculated as the average value of the losses development factors for the periods of losses occurrence.

      Table of coefficients

Period of occurrence
of insurance cases (i)

Coefficients of losses development g(j)

Factors of losses development f (j)

The factors of delay h(j)= 1 - 1/f (j)
 

1

1

1

1-1/ 1

2

g(n-1)

1*g(n-1)

1-1/( g(n-1))

3

g(n-2)

1*g(n-1) *g(n-2)

1-1/ (1*g(n-1) *g(n-2))

n-1

g(2)

1*g(n-1) *g(n-2)*…* g(2)

1-1/ (1*g(n-1) *g(n-2)*…* g(2))

n

g(1)

1*g(n-1)*g(n-2)*…* g(2)*g(1)

 1-1/ (1*g(n-1) *g(n-2)*…* g(2)*g(1))

      Note: the Table of coefficients indicates:

      in the column "Coefficients of losses development g(j)" - the values of coefficients of losses development, indicated in the Table of coefficients of losses development g(j);

      in the column "Factors of development of losses f (j)" - accumulated values of coefficients of losses development;

      in the column "Factors of delay h (j)" - values equal to 1-1/f (j), where f (j) is a development factor.

      Table for calculating loss ratio by policies

Financial year (y)

Incurred losses

Earned premiums

Loss ratio by policies

1

2

3

4

1

UL(1)

UP(1)

U(1)=UL(1)/UP(1)

2

UL(2)

UP(2)

U(2)=UL(2)/UP(2)

m-1

UL(m-1)

UP(m-1)

U(m-1)=UL(m-1)/UP(m-1)

m

UL(m)

UP(m)

U(m)=UL(m)/UP(m)

      Note:

      in the Table for calculating the loss ratio:

      the column "Incurred losses" indicates the values of losses incurred as of the reporting date, including expenses for settlement of losses, under the contracts of insurance (reinsurance), that entered into force in the financial year, preceding the period of occurrence of insurance cases;

      the column "Earned premiums" indicates the earned premium under the contracts of insurance (reinsurance) that entered into force in the financial year preceding the period of occurrence of insurance cases;

      the loss ratio U is determined by the following formula:

      U ≥ [U (1) + U (2) + … + U(m)]/m, where:

      U(m) - coefficients of loss by policies for each m-th financial year preceding the period of occurrence of insurance cases, calculated as the ratio of the amount of losses incurred, including expenses for settlement of losses, under the contracts of insurance (reinsurance), that entered into force in the corresponding financial year, to the insurance premiums, earned at the reporting date under these contracts;

      m - number of financial years.

      Table of the reserve for occurred, but not declared losses

Period of occurrence of insurance cases (і)

Earned premiums

Loss ratio U

Expected final losses z(і)

Factors of delay h (j)

Losses incurred, but not paid at the reporting date R(і)

Declared, but not settled losses at the reporting date

Occurred, but not declared losses


1

2

3=1*2

4

5=3*4

6

7=5-6

1








2








3















n-1








n








Total








      Note: in the Table for reserve of occurred, but not declared losses of this Form:

      in the column "Earned premiums" - the earned premium of the insurance company in the corresponding period;

      in the column "Loss ratio U" - the value of the loss ratio, the size of which is not less than the average value of the loss ratio by policies in accordance with the Table for calculating the loss ration by policies of this Form;

      in the column "Factors of delay h(j)" - the values of the delay factors h(j), calculated in the Table of coefficients of this Form;

      if the calculation method Bornhuetter-Ferguson is based on payments, then RONL- the sum of occurred, but not declared losses (column 7, Table of reserve of occurred, but not declared losses of this Form), if the calculation is based on incurred losses, then RONL - the sum of occurred, but not paid losses at the reporting date (column 5 of the Table of reserve of occurred, but not declared losses of this Form);

      in the column "Occurred, but not declared losses", there is a difference between the columns "Occurred, but not paid losses at the reporting date R(і)" and "Declared, but not settled losses at the reporting date" in the corresponding period. If there is a negative difference, the column "Occurred, but not declared losses" takes value 0 (zero).

      When calculating the RONL minus the reinsurer's share:

      the column "Earned premiums" indicates the values of the earned premium minus the reinsurer's share in the corresponding period;

      the column " Factors of delay h(j)" indicates the values of the delay factors h(j), taking into account the reinsurer's share, calculated in the Table of coefficients of this Form.

  Appendix12
to the Requirements for formation,
method of calculating insurance
reserves and their structure

Distribution of liabilities of an insurance (reinsurance) company based on losses incurred
Table of accumulated amounts of payments (paid losses) grouped by periods of occurrence of insurance cases

Period of occurrence of insurance cases (і)

Accumulated paid losses by periods (j)

Periodicity

1

2

n-2

n-1

n

1

Х (1,1)

Х (1,1) + Х (1,2)


Х (1,1) + … + Х (1, n-2)

Х (1,1) + … + Х (1, n-2) + Х (1, n-1)

Х (1,1) + … + Х (1, n-1) + Х (1, n)

2

Х (2,1)

Х (2,1) + Х (2,2)


Х (2,1) + … + Х (2, n-2)

Х (2,1) + … + Х (2, n-2) + Х (2, n-1)

х

3

Х (3,1) 

Х (3,1) + Х (3,2)

… 

Х (3,1) + … +Х (3, n-2) 

х

х

х

х

х

n-1

Х (n-1,1)

Х (n-1,1) + Х (n-1,2)

х

х

х

х

n

Х (n,1) 

х

х

х

х

х

      X (i,j) – payments (paid losses) at the end of the j-th period, for insurance cases, that occurred in the i-th period.

      Table of declared not settled losses, grouped by state at the end of each period of occurrence of losses

Period of occurrence of insurance cases (і)

Declared not settled losses for periods (j)

Periodicity

1

2

n-2

n-1

n

1

Y (1,1)

Y (1,2)


Y (1, n-2)

Y (1, n-1) 

Y (1, n) 

2

Y (2,1)

Y (2,2)


Y (2, n-2)

Y (2, n-1) 

x

3

Y (3,1) 

 Y (3,2)

… 

Y (3, n-2) 

x

x

x

x

x

n-1

Y (n-1,1)

Y (n-1,2)

x

x

x

x

n

Y (n,1) 

x

x

x

x

x

      Y (i, j) – declared losses at the end of the j-th period, for insurance cases, that occurred in the i-th period.

      Table of accumulated losses based on losses incurred__________________ at the reporting date

Period of occurrence of insurance cases (і)

Losses incurred (j)

Periodicity

1

2

n-2

n-1

n

1

Х (1,1) + Y (1,1)

Х (1,1) + Х (1,2) + Y (1,2)


Х (1,1) + … + Х (1, n-2) + Y (1, n-2)

Х (1,1) + … + Х (1, n-2) + Х (1, n-1) + Y (1, n-1)

Х (1,1) + … + Х (1, n-1) + Х (1, n) + Y (1, n)

2

Х (2,1) + Y (2,1)

Х (2,1) + Х (2,2) + Y (2,2)


Х (2,1) + … + Х (2, n-2) + Y (2, n-2)

Х (2,1) + … + Х (2, n-2) + Х (2, n-1) + Y (2, n-1)

х

3

Х (3,1) + Y (3,1)

Х (3,1) + Х (3,2) + Y (3,2)

… 

Х (3,1) + … +Х (3, n-2) + Y (3, n-2)

х

х

х

х

х

n-1

Х (n-1,1) + Y (n-1,1)

Х (n-1,1) + Х (n-1,2) +
Y (n-1,2)

х

х

х

х

n

Х (n,1) + Y (n,1) 

х

х

х

х

х

  Appendix 13
to the Requirements for formation,
method of calculating insurance
reserves and their structure

Mortality rates for calculating insurance payments under the contract of pension annuity

Age

Men

Women

25

0,0024481809

0,0006274238

26

0,0025943697

0,0006676971

27

0,0027233502

0,0007056074

28

0,0028425047

0,0007412992

29

0,0029577995

0,0007767228

30

0,0030798642

0,0008119244

31

0,0032114459

0,0008505828

32

0,0033612022

0,0008924813

33

0,0035291163

0,0009385639

34

0,0037197668

0,0009906002

35

0,0039348729

0,0010483273

36

0,0041784741

0,0011163161

37

0,0044493232

0,0011944894

38

0,0047483920

0,0012837138

39

0,0050708321

0,0013820340

40

0,0054208771

0,0014874267

41

0,0057993651

0,0016000204

42

0,0062130588

0,0017212900

43

0,0066625747

0,0018544187

44

0,0071474184

0,0020023703

45

0,0076680100

0,0021676861

46

0,0082244930

0,0023516809

47

0,0088216652

0,0025538640

48

0,0094584171

0,0027714017

49

0,0101280734

0,0030039882

50

0,0108212272

0,0032509632

51

0,0115228363

0,0035141552

52

0,0122233730

0,0037896536

53

0,0129133803

0,0040738105

54

0,0135955053

0,0043618174

55

0,0142859526

0,0046536866

56

0,0150084234

0,0049548709

57

0,0157948684

0,0052740418

58

0,0166676936

0,0056276768

59

0,0176400368

0,0060313270

60

0,0187181346

0,0065036410

61

0,0199037048

0,0070585173

62

0,0212196935

0,0077140411

63

0,0226839310

0,0084825984

64

0,0243147043

0,0093742669

65

0,0261183219

0,0103971349

66

0,0280940488

0,0115659366

67

0,0302425933

0,0129055099

68

0,0325700636

0,0144510322

69

0,0350858599

0,0162382933

70

0,0378016624

0,0182951136

71

0,0407143335

0,0206292088

72

0,0438107362

0,0232341066

73

0,0470696180

0,0260982484

74

0,0504811467

0,0292280131

75

0,0540616273

0,0326530238

76

0,0578665497

0,0364307871

77

0,0619843680

0,0406359180

78

0,0664916973

0,0453425305

79

0,0714740982

0,0506171641

80

0,0769774599

0,0565051459

81

0,0830319346

0,0630317637

82

0,0896147271

0,0702018558

83

0,0966845108

0,0779949274

84

0,1042579696

0,0864008004

85

0,1122879396

0,0954219949

86

0,1207280202

0,1050267964

87

0,1295129290

0,1151705866

88

0,1385844507

0,1258039246

89

0,1481204333

0,1369032122

90

0,1582202894

0,1485338001

91

0,1691737115

0,1610224830

92

0,1809266576

0,1738000217

93

0,1934419461

0,1871487399

94

0,2065024009

0,2007375293

95

0,2203274393

0,2150498902

96

0,2350011690

0,2300562069

97

0,2507578103

0,2455860090

98

0,2673864944

0,2613597427

99

0,2847965003

0,2771617489

100

0,3046228561

0,2955023955

101

0,3275264532

0,3170455227

102

0,3549860330

0,3437003847

103

0,3868036658

0,3745180950

104

0,4235753219

0,4101464523

105

0,4660173959

0,4516534218

106

0,5147843396

0,5000418052

107

0,5634808009

0,5490524338

108

0,6239580347

0,6110982356

109

0,7883509815

0,7810056771

110

1,0000000000

1,0000000000