Actuarial Qualification, the Actuarial Opinion and Licensing (Resolution No. 191)

Reference card for a regulatory legal act. The full text is available in the official «Adilet» system (adilet.zan.kz).

Requisites

Parameter	Value
Type of act	Resolution of the Board of the National Bank of the RK
Number and date	No. 191 of 27 August 2018
Status	In force (superseded the previously effective Resolution No. 151 of 16 July 2014)
Official code	V1800017618

Subject of the document

A subordinate act on actuarial activity: it establishes the minimum actuarial training programme, the requirements for the actuarial opinion, and the procedures for confirmation of an actuary's qualification and for licensing. It includes the requirements for confirmation of qualification (Annex 4) and the rules for engaging an independent actuary (Annex 5).

Relevance for actuarial practice

It defines the qualification requirements for an actuary and the content of the mandatory actuarial opinion.
It establishes the procedure for confirming qualification every three years (the continuing professional development programme, CPD).
It governs the engagement of an independent actuary to assess the calculations of the in-house actuary.
It is a direct subject of the Chamber's legislative initiatives: transferring the administration of CPD to the actuaries' association, moving from points to hours, and establishing the institution of the independent actuary outside the staff of insurers.

Official source

Full text in force: adilet.zan.kz/rus/docs/V1800017618. Files in the repository: docs/Law/191.pdf, docs/Law/191.docx.

English Translation (Auto-generated)

Official source: Adilet / https://adilet.zan.kz/rus/docs/V1800017618 The relevance of the editorial office has been verified: 2026-06-20.

In accordance with paragraph 5 of Article 11-1, paragraph 4 of Article 18-1, paragraphs 2, 3 and 4 of Article 40, subparagraph 8) of Article 43 and paragraph 2 of Article 75 of the Law of the Republic of Kazakhstan “On Insurance Activities”, the Board of the National Bank of the Republic of Kazakhstan DECIDES:

Approve:

The minimum mandatory training program for actuaries in accordance with Appendix 1 to this resolution;

2) List and requirements for international associations of actuaries in accordance with Appendix 2 to this resolution;

3) Requirements for the content and procedure for providing a mandatory actuarial report in accordance with Appendix 3 to this resolution;

4) Requirements for confirming the qualifications of an actuary in accordance with Appendix 4 to this resolution;

5) Rules and terms for engaging an independent actuary to check the activities of an actuary on the staff of an insurance (reinsurance) organization, forwarding by an independent actuary the results of checking the reliability of calculations carried out by an actuary on the staff of an insurance (reinsurance) organization, in accordance with Appendix 5 to this resolution;

6) Rules for issuing a license for the right to carry out actuarial activities in the insurance market in accordance with Appendix 6 to this resolution;

7) Rules for testing in accordance with Appendix 7 to this resolution.

2. To recognize as invalid:

Resolution of the Board of the National Bank of the Republic of Kazakhstan dated July 16, 2014 No. 151 “On approval of the Rules for carrying out actuarial activities, issuing a license for the right to carry out actuarial activities, passing a qualification exam by an actuary, attracting an independent actuary to check the activities of an actuary, sending an independent actuary the results of checking the reliability of calculations carried out by an actuary on staff of an insurance (reinsurance) organization” (registered in Register of state registration of normative legal acts under No. 9718, published on October 3, 2014 in the information and legal system "Adilet");

2) paragraph 15 of the List of regulatory legal acts of the Republic of Kazakhstan on the optimization and automation of business processes of public services provided by the National Bank of the Republic of Kazakhstan, to which changes and additions are made, approved by Resolution of the Board of the National Bank of the Republic of Kazakhstan dated December 24, 2014 No. 261 “On amendments and additions to some regulatory legal acts of the Republic of Kazakhstan on optimization and automation of business processes of public services provided by the National Bank of the Republic of Kazakhstan” (registered in the Register of State Registration of Normative Legal Acts under No. 10211, published on February 26, 2015 in the Adilet information and legal system).

3. The Department for Regulation of Non-Bank Financial Organizations (A.M. Kosherbaeva), in accordance with the procedure established by the legislation of the Republic of Kazakhstan, shall ensure:

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

2) within ten calendar days from the date of state registration of this resolution, its sending in the Kazakh and Russian languages to the Republican State Enterprise with the right of economic management "Republican Center for Legal Information" for official publication and inclusion in the Reference Control Bank of Regulatory Legal Acts of the Republic of Kazakhstan;

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

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

4. The Department for the Protection of the Rights of Consumers of Financial Services and External Communications (Terentyev A.L.) ensure that within ten calendar days after the state registration of this resolution, a copy of it is sent for official publication in periodicals.

5. Control over the implementation 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 comes into force twenty-one calendar days after the day of its first official publication.

Chairman of the National Bank D. Akishev

"AGREED" Ministry of Information and Communications of the Republic of Kazakhstan_______________ D. Abaev October 23, 2018

"AGREED" Ministry of National Economy of the Republic of Kazakhstan_______________ T. Suleimenov October 24, 2018

Appendix 1 to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated August 27, 2018 No. 191

Minimum Required Actuarial Training Program

Footnote: Footnote. The minimum mandatory program is as amended by the resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated November 23, 2022 No. 102 (shall be brought into force sixty calendar days after the day of its first official publication).

The minimum mandatory training program for actuaries consists of the following six courses:

Course 1. Theory of interest rates and random processes in life insurance, including the following topics:

basics of simple and compound interest;

financial annuities;

loans and their repayment schedules;

debt securities;

life tables;

insurance annuities;

theory of individual life insurance;

joint life insurance theory;

pension insurance.

Course 2. Actuarial principles and their applications, including the following topics:

practical application of the theory of interest rates;

actuarial valuation of insurance annuities;

life insurance: product development, marketing and underwriting fundamentals;

estimation of reserves and minimum capital requirements in life insurance;

analysis and evaluation of the profitability of life insurance products;

general insurance: insurance products, fundamentals of pricing and assessment of reserves;

group death and disability insurance: insurance programs, underwriting basics for large and small groups, basics of pricing and reserve assessment;

Group health insurance: types of insurance coverage, managed care plans, basics of pricing and reserve assessment;

reinsurance;

pension programs and social security;

review of insurance economics;

basics of investment management.

Course 3. General insurance and reinsurance, including part A and part B.

Part A: Actuarial Models in General Insurance includes the following topics:

utility theory and insurance economics;

theory of individual risks;

collective risk theory;

loss models;

properties of probability distributions of losses;

assessment of probability distributions of losses;

credibility theory.

Part B. General insurance and reinsurance includes the following topics:

types of general insurance, insurance products, risk factors and underwriting, limitations on insurance coverage;

pricing, methods for adjusting insurance premiums;

classification of risk groups and differentiation of insurance premium rates;

assessment of reserves: collection and organization of data, basic and special methods for assessing reserves;

principles and types of reinsurance programs;

choice of reinsurance program in general insurance.

Course 4. Life and health insurance, including part A and part B.

Part A: Actuarial Models in Life Insurance includes the following topics:

actuarial control cycle;

types of life insurance products, product development, underwriting, influence of the business environment, risk factors, risk management;

principles of actuarial modeling in life insurance;

pricing strategies and methods;

profitability analysis and testing;

taxation in life insurance;

construction of mortality tables.

Part B: Estimation of Reserves and Capital Requirements in Life Insurance, Group Life Insurance, and Health Insurance covers the following topics:

methods for assessing reserves in life insurance;

capital requirements;

investments;

asset and liability management;

solvency and assessment of capital adequacy;

profit distribution;

financial reporting;

monitoring and adjustments based on actual experience;

Group Death and Disability Insurance: Risk Factors, Underwriting, Pricing and Reserve Estimation;

individual and group health insurance: underwriting, pricing and assessment of reserves;

reinsurance;

issues of professionalism in the work of an actuary.

Course 5. Pensions and social insurance, including part A and part B.

Part A: Actuarial Methods for Valuing Pension and Social Security Plans includes the following topics:

review of pension programs, relative and absolute standards for the level of pension income;

types of programs by type of administration (state, corporate, individual);

various designs of pension plans (defined benefit, defined contribution, hybrid);

types of programs by financing method (solidarity, funded, hybrid);

advantages and disadvantages of defined benefit and defined contribution plans, risk factors, risk assessment, program design, program selection criteria;

types of corporate pension programs;

actuarial methods for estimating the amount of contributions to finance defined benefit pension plans;

steps in the actuarial valuation process for defined benefit plans (determination of valuation parameters; collection, analysis and reconciliation of data; actuarial assumptions; valuation; sensitivity analysis, reporting);

financial reporting requirements for corporate defined benefit pension plans;

actuarial valuation of benefits under defined contribution pension plans;

investing pension assets;

principles and types of social security systems, regulatory formula for the amount of pension income and replacement rate, program design (terms and parameters of the program);

comparative analysis of the advantages and disadvantages of various methods of financing pension programs with public administration;

actuarial assessment of the cost of financing social security programs using forecasts of regulatory, financial and macroeconomic parameters, population dynamics and labor resources;

application of the Monte Carlo method for simulation modeling of risks of economic systems.

Part B. Macroeconomic forecasting of parameters used in actuarial valuation based on econometric modeling includes the following topics:

linear regression model;

forecasting using a single equation model;

distributed lag models;

nonlinear estimates and maximum likelihood method;

estimation using a system of simultaneous equations;

time series analysis: smoothing and extrapolation of time series;

stochastic time series;

linear time series;

assessment and forecasting using time series models.

Course 6. Insurance organizations and pension funds: financing and investment, including part A and part B.

Part A. Insurance organizations and pension funds: financing and investment includes the following topics:

ethical and professional standards in investment activities;

quantitative methods for assessing investments;

basics of microeconomics;

fundamentals of macroeconomics and the influence of macroeconomic factors and government regulation on stock markets;

financial reporting and financial analysis of the results of financial and economic activities;

basics of corporate finance;

types of investments: stocks, fixed income securities, foreign exchange market instruments, derivatives, alternative investment instruments;

investment portfolio management and financial resource planning:

risk and return;

assets and investments of insurance organizations, pension funds, social security trust funds;

investment risks of insurance organizations;

financial planning for insurance organizations: relationships between assets and liabilities.

Part B. Government Regulation and Financial Reporting in Insurance includes the following topics:

financial statements of insurance organizations;

financial analysis using early response ratios;

financial planning for insurance organizations: relationships between assets and liabilities;

requirements for capitalization of insurance organizations based on risk assessment;

international financial reporting standards in insurance;

review of the Solvency I and Solvency II systems of the European Union;

international principles of insurance supervision;

principles, objectives, characteristics and advantages of a risk-based insurance supervision system;

the role of actuaries in prudential regulation of the insurance industry;

legislation of the Republic of Kazakhstan on insurance and insurance activities, taxation, accounting in the insurance market.

2. The provisions of this Minimum Mandatory Training Program for Actuaries, applied to insurance organizations, apply to branches of non-resident insurance organizations of the Republic of Kazakhstan opened on the territory of the Republic of Kazakhstan, taking into account the features provided for by the Law of the Republic of Kazakhstan “On Insurance Activities”.

3. The schedule of training (exams) for the minimum mandatory training program for actuaries is published by an organization that is a member of the international actuarial association on its official Internet resource at least three months before the start of training (exam date).

4. Up-to-date information about persons who attended and (or) successfully passed the courses of the minimum mandatory training program for actuaries is stored by an organization that is a member of the international actuarial association and published on its official Internet resource.

Appendix 2 to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated August 27, 2018 No. 191

List and requirements for international associations of actuaries

Footnote: Footnote. Appendix 2 - as amended by the resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated March 30, 2020 No. 45 (shall be brought into force upon the expiration of twenty-one calendar days after the day of its first official publication).

List of international associations of actuaries:

German Actuarial Society (German Actuarial Society));
Institute of Actuaries of France (Institute of Actuaries of France));
Austrian Actuarial Society (Austrian Actuarial Society));
Canadian Institute of Actuaries (Canadian Institute of Actuaries));
Actuarial Society of Finland (Actuarial of Finland));
Danish Society of Actuaries (Danish Society of Actuaries));
international associations of actuaries that have the status of a full member of the International Actuarial Association (International Actuarial Association) and (or) the European Actuarial Association (The Actuarial Association of Europe).

2. The International Association of Actuaries meets the following requirements:

has an educational qualification system;
has requirements for compliance with the educational and qualification system of members of the association or regulations for its recognition;
has internal documents regulating the procedure for carrying out the activities of actuaries (standards for the activities of actuaries and the implementation of actuarial calculations, a code of professional ethics).

Appendix 3 to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated August 27, 2018 No. 191

Requirements for the content and procedure for providing a mandatory actuarial report

Footnote: Footnote. Appendix 3 - as amended by the resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated March 30, 2020 No. 45 (shall be brought into force upon the expiration of twenty-one calendar days after the day of its first official publication).

The mandatory actuarial report for the calculation of insurance reserves contains mandatory actuarial calculations of the amount of insurance reserves of an insurance (reinsurance) organization as of January 1 of the year following the reporting year, carried out by an actuary licensed to carry out actuarial activities in the insurance market (hereinafter referred to as a licensed actuary), who is on the staff of the insurance (reinsurance) organization. The actuarial report for the calculation of insurance reserves is drawn up in accordance with Appendix 1 to these Requirements and is submitted to the authorized body for regulation, control and supervision of the financial market and financial organizations (hereinafter referred to as the authorized body) no later than May 31 (inclusive) of the year following the reporting year.

1-1. The mandatory actuarial report on the assessment of insurance liabilities contains mandatory actuarial calculations of the amount of insurance liabilities of the insurance (reinsurance) company as of January 1 of the year following the reporting year, carried out by a licensed actuary on the staff of the insurance (reinsurance) company. The actuarial report on the assessment of insurance liabilities is drawn up in accordance with Appendix 1-1 to these Requirements and is submitted to the authorized body by May 31 (thirty-first) (inclusive) of the year following the reporting year.

2. An actuarial report for the calculation of insurance reserves and an actuarial report for the assessment of insurance liabilities is drawn up in at least 3 (three) copies each and signed by a licensed actuary. One copy of actuarial reports remains with a licensed actuary, one copy is submitted by the insurance (reinsurance) organization to the authorized body, the remaining copies of actuarial reports are kept by the insurance (reinsurance) organization.

3. Attached to the actuarial opinions are the reports of the insurance (reinsurance) company, obtained in accordance with paragraph 4 of Article 19 of the Law of the Republic of Kazakhstan “On Insurance Activities” (hereinafter referred to as the Law), and materials necessary for calculating insurance reserves and assessing insurance liabilities or used by a licensed actuary in calculating insurance reserves and assessing insurance liabilities.

4. The conclusion of a licensed actuary on a major transaction contains the recommendations of a licensed actuary on a major insurance (reinsurance) agreement and is drawn up in the form of an actuarial report on a major transaction in the form in accordance with Appendix 2 to these Requirements.

5. The actuarial report on a major transaction is drawn up in at least 2 (two) copies and signed by a licensed actuary. One copy of the actuarial report on a major transaction remains with the licensed actuary, the remaining copies are submitted to the insurance (reinsurance) organization.

6. The provisions of these Requirements applied to insurance (reinsurance) organizations apply to branches of non-resident insurance (reinsurance) organizations of the Republic of Kazakhstan opened on the territory of the Republic of Kazakhstan, taking into account the specifics provided for by the Law.

Appendix 1 to Requirements for the content and procedure for providing a mandatory actuarial report Form

Actuarial report on the calculation of insurance reserves

Footnote: Footnote. Appendix 1 - as amended by the resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated December 27, 2024 No. 87 (shall be brought into force three months after the day of its official publication).

Actuarial calculations were carried out as of ___________________.

2. The purpose of drawing up an actuarial report is ._______________________________________.

3. Information about the insurance (reinsurance) organization:1) full name _________________________________________________________________________________________________________;2) location and bank details ______________________________________________________________;3) date and state registration number ;4) license for the right to carry out insurance (reinsurance) activities (number and date of issue)

4. Data about the actuary: 1) last name, first name, patronymic (if any) __________________________________________________________________________________________; 2) place of residence (location) __________________________________________________________________________________________; 3) license to carry out actuarial activities in the insurance market __________________________________________________________________________ (number and date of issue)

5. Type of actuarial report: 1) according to the degree of obligation: initiative - carried out on the initiative of the insurance (reinsurance) organization; mandatory – carried out in cases provided for by the legislation of the Republic of Kazakhstan; 2) by industry (class) of insurance: carried out by the industry “life insurance”; carried out in the “general insurance” industry; carried out on reinsurance or classes according to the classification established by Article 6 of the Law of the Republic of Kazakhstan “On Insurance Activities”; 3) for the purpose of compilation: reporting – carried out as of the reporting date under insurance and reinsurance contracts of an insurance (reinsurance) organization; planned – carried out when an insurance (reinsurance) organization introduces insurance and reinsurance under a new class of insurance; subsequent - carried out for the purpose of adjusting previously carried out actuarial calculations; 4) by scale of application: general - designed for use throughout the territory of the Republic of Kazakhstan, as well as beyond its borders; regional – calculated for individual regions of the Republic of Kazakhstan; individual – calculated for an individual policyholder and (or) group of policyholders (legal entities and (or) individuals).

6. List of documents (information) submitted by the insurance (reinsurance) organization__________________________________________________________________________________________________________________________________________________________________________________________________________________________.

7. Materials and data used by the actuary (their sources and (or) locations)__________________________________________________________________________________________________________________________________________________________.

8. Calculation methodology used by the actuary: 1) calculation methodology, including description, justification, assumptions and assumptions used by the actuary in calculating insurance reserves and the reinsurer’s share in insurance reserves. In the case of actuarial calculations for the “life insurance” industry, the parameters of the reserve and tariff bases are indicated by type of insurance______________________________________________________________________________________________________________________________________________;2) statistical and other data used in actuarial calculations__________________________________________________________________________;3) the total amount of insurance premiums under existing insurance (reinsurance) contracts, the number of declared losses used in the calculation of insurance reserves by insurance classes__________________________________________________________________________;4) methods and models used to calculate the reinsurer’s share in insurance reserves_________________________________________________________________________;5) justification for the choice of method for calculating the reserve for occurred but unreported losses (hereinafter referred to as IBNR), the period of losses used to calculate IBNR, the choice of the loss development coefficient, as well as smoothing of large losses_________________________________________________________________________;6) justification and calculation of the amount of obligations of the insurance (reinsurance) organization associated with re-examination and (or) extension of the degree of disability, deterioration in the health of the beneficiary, taken into account when calculating the INR for the class of compulsory insurance of the employee against accidents during the performance of his labor (official) duties, indicating all the parameters used in the calculation__________________________________________________________________________; 7) the table used containing the probabilities of death, disability, disease and the values calculated on their basis, associated with the upcoming life expectancy of male and (or) female persons (source of formation, construction methodology) when calculating insurance reserves for life insurance contracts and annuity insurance contracts, with its appendix______________________________________________________________________________________________________________________________________________;8) calculation of the amount and justification of the expected expenses directly related to the consideration and settlement of the amount of insurance payments for the stated claims, as well as calculation of the average value of paid claims made by groups of insured events__________________________________________________________________________;9) conclusion on the presence or absence of additional risks for the insurance (reinsurance) organization. If there are additional risks, the amount of increase in insurance reserves is indicated: _________________________________________________________________________________________________________________________________________; 10) characteristics of the assistance received by the actuary from the involved specialists ____________________________________________________________.

9. Results and conclusions obtained: 1) results of actuarial calculations of insurance reserves and the reinsurer’s share in insurance reserves by insurance class; 2) results of a test for the adequacy of loss reserves, including a retrospective analysis based on data for the last 12 (twelve) months, separately for each insurance class and for the insurance portfolio as a whole. Conclusions on the adequacy (inadequacy) of insurance reserves and, in case of insufficiency of insurance reserves, analysis of the reasons for the insufficiency; 3) results and conclusions.

10. Recommendations (if absent, indicate “no”)_________________________________________________________________________.

11. Time frame for preparation and place of drawing up the actuarial report_________________________________________________________________________.

12. Signature, date and number of copies__________________________________________________________________________.

Appendix 1-1 to Requirements for the content and procedure for providing a mandatory actuarial report Form

Actuarial report on the assessment of insurance liabilities

Footnote: Footnote. The requirements are supplemented by Appendix 1-1 in accordance with the resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated December 27, 2024 No. 87 (shall be enforced three months after the date of its official publication).

Actuarial calculations were carried out as of ______________________.

2. The purpose of drawing up an actuarial report is _______________________________________________________________________________________________.

3. Information about the insurance (reinsurance) organization:1) full name ________________________________________________________________________________________________________________;2) location and bank details ________________________________________________;3) date and state registration number ;4) license for the right to carry out insurance (reinsurance) activities (number and date of issue)

4. Data about the actuary: 1) last name, first name, patronymic (if any) __________________________________________________________________________________________; 2) place of residence (location) ___________________________________________________________________________________________________; 3) license to carry out actuarial activities in the insurance market _________________________________________________________________________________________ (number and date of issue)

5. Type of actuarial report: 1) according to the degree of obligation: initiative - carried out on the initiative of the insurance (reinsurance) organization; mandatory - carried out in cases provided for by the legislation of the Republic of Kazakhstan; 2) for the purpose of compilation: reporting - carried out as of the reporting date under insurance and reinsurance contracts of an insurance (reinsurance) organization; planned - carried out when an insurance (reinsurance) organization introduces insurance and reinsurance under a new class of insurance; subsequent - carried out for the purpose of adjusting previously carried out actuarial calculations;

7. Materials and data used by the actuary (their sources and (or) locations) ________________________________________________________________________________________________________________________________.

8. The methodology and model for assessing liabilities used by the actuary: 1) the methodology and model for assessing liabilities, including description, justification, assumptions and assumptions used by the actuary in calculating insurance liabilities and assets under issued insurance/reinsurance contracts and outgoing reinsurance contracts.______________________________________________________________________; 2) statistical and other data, assumptions used in actuarial calculations, including rates of return, used for discounting cash flows for the purpose of calculating insurance liabilities and assets under issued insurance/reinsurance contracts and outgoing reinsurance contracts risk adjustment for non-financial risk, a table containing the probabilities of death, disability, illness and values calculated on their basis associated with the upcoming life expectancy of male and (or) female persons (source of formation, construction methodology) when calculating insurance liabilities under life insurance contracts and contracts annuity insurance, with its attachment.; 3) characteristics of the assistance received by the actuary from the involved specialists __________________________________________________________.

9. Results and conclusions obtained: 1) results of actuarial calculations of insurance liabilities and assets for issued insurance/reinsurance contracts and outgoing reinsurance contracts; 2) disclosure of liabilities for the remaining part of the coverage and liabilities for incurred insurance losses; 3) results and conclusions.

10. Recommendations (if absent, indicate “no”)_________________________________________________________________________.

11. Time frame for preparation and place of drawing up the actuarial report_________________________________________________________________________.

12. Signature, date and number of copies__________________________________________________________________________

Appendix 2 to the Requirements for the content and procedure for providing a mandatory actuarial report Form

Actuarial report on a major transaction

Information about the insurance (reinsurance) company: 1) full name _______________________________________________________ _______________________________________________________; 2) location and bank details _______________________________________________________ _______________________________________________________; 3) date and state registration number ________________________________________________________________ _______________________________________________________; 4) license for the right to carry out insurance (reinsurance) activities _______________________________________________________ _______________________________________________________. (number and date of issue) 2. Information about the actuary: 1) last name, first name, patronymic (if any) ________________ ________________________________________________________________; 2) license to carry out actuarial activities in the insurance market _______________________________________________________. 3. List of data provided by the insurance (reinsurance) organization _________________________________________________________ _________________________________________________________ ____________________________________________________________. 4. Materials and data used by the actuary (their sources and (or) place of receipt), including regulatory legal acts of the Republic of Kazakhstan ____________________________________________________________ ____________________________________________________________ 5. Data on the insurance (reinsurance) agreement: 1) policyholder ___________________________________________; 2) a list of covered insurance risks and exclusions for these risks ___________________________; 3) class and object of insurance; 4) planned insurance period (start and end dates of the insurance contract and insurance protection) _________________________________________________________; 5) the insured amount for each insured event and (or) under the insurance (reinsurance) agreement _________________________________________________________; 6) insurance rate (standard, increased, reduced) and its size _________________________________________________________; 7) insurance premium ________________________________________________; 8) commission to an agent or insurance broker _________________________________________________________; 9) deductible for each insured event and (or) under the insurance (reinsurance) agreement (if any) __________________________________________________________ __________________________________________________________. If there are several insurance objects, with the exception of collective insurance and group personal insurance, the data presented in subparagraphs 5), 6), 7), 9) of this paragraph are indicated separately for each insurance object. 6. Results and conclusions: 1) recommendations of the actuary on a major transaction; 2) additional recommendations (if available). 7. Signature, date __________________________________________.

Appendix 4 to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated August 27, 2018 No. 191

Requirements for confirming qualifications of an actuary

Footnote: Footnote. Appendix 4 - as amended by the resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated March 30, 2020 No. 45 (shall be brought into force upon the expiration of twenty-one calendar days after the day of its first official publication).

A licensed actuary confirms his qualifications for the reporting period as of January 1 of the year following the reporting period, within 2 (two) months of the year following the reporting period.

The reporting period is 3 (three) financial years, starting from January 1, 2019.

For actuaries who received a license to carry out actuarial activities in the insurance market after January 1, 2019, the reporting period is calculated from January 1 of the year following the year during which the actuary received a license to carry out actuarial activities in the insurance market.

2. Confirmation of qualifications of a licensed actuary is carried out by completing a professional development program (hereinafter referred to as the PPR program) by the licensed actuary.

3. Activities (types of activities) of the CPD program and the number of qualifying points for participation in the CPD program are determined in accordance with the professional development program in Appendix 1 to these Requirements.

4. To confirm qualifications, a licensed actuary gains 1200 qualification points under the CPR program during the reporting period.

For the purposes of paragraphs 4, 5, 6, 7, 10, 11, 12 or 15 of the CPR program, for each activity conducted by an organization that is a member of the international actuarial association, the number of points is increased by 100 points.

5. To confirm qualifications, licensed actuaries submit to the authorized body for regulation, control and supervision of the financial market and financial organizations (hereinafter referred to as the authorized body) information on confirming the qualifications of a licensed actuary in the form in accordance with Appendix 2 to these Requirements (hereinafter referred to as the Information), with documents confirming the information specified in the Information.

Appendix 1 to the Requirements for confirming the qualifications of an actuary

Professional Development Program

Footnote: Footnote. Appendix 1 – as amended by the resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated January 27, 2026 No. 3 (shall be brought into force ten calendar days after the day of its first official publication).

No. Area of activity Number of points 1 Participation in the international congress of actuaries 800 2 Carrying out teaching activities in actuarial disciplines (per semester) for at least 30 hours 800 3 Carrying out teaching activities in actuarial disciplines (per semester) for less than 30 hours 400 4 Carrying out activities as a supervisor of graduate works (bachelor's thesis/project work, master's theses) on specialization "Actuary" 500 5 Participation in a seminar, webinar, master classes, training on the territory of the Republic of Kazakhstan or abroad as a lecturer 400 6 Contribution to the development of the actuarial and insurance industry in Kazakhstan and participation in working groups, confirmed by the authorized body 400 7 Contribution to the development of actuarial activities in Kazakhstan, confirmed by the association of actuaries of Kazakhstan 300 8 Publication of an article on issues insurance and actuarial activities in a foreign professional financial publication 800 9 Publication of an article on insurance and actuarial activities in the Republican professional financial publication 500 10 Writing textbooks, teaching aids on actuarial activities 800 11 Participation in exams on actuarial activities in courses taken on the skills.enbek.kz platform 600 12 Preparation of actuarial reports on compulsory types of insurance (tariffs, research) 800 13 Continuous membership in the association of actuaries of Kazakhstan for 3 years 300

Appendix 2 to Requirements for confirming the qualifications of an actuary Form

Information on confirming the qualifications of a licensed actuary

Last name, first name, patronymic (if any) of the actuary:

Area of activity Result Brief overview Date of completion Time of completion

Appendix 5 to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated August 27, 2018 No. 191

Rules and terms for engaging an independent actuary to check the activities of an actuary on the staff of an insurance (reinsurance) company, sending the independent actuary the results of checking the accuracy of calculations carried out by an actuary on the staff of an insurance (reinsurance) company

Footnote: Footnote. Appendix 5 - as amended by the resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated March 30, 2020 No. 45 (shall be brought into force twenty-one calendar days after the day of its first official publication).

These Rules and terms for engaging an independent actuary to check the activities of an actuary on the staff of an insurance (reinsurance) organization, forwarding by an independent actuary the results of checking the reliability of calculations carried out by an actuary on the staff of an insurance (reinsurance) organization (hereinafter referred to as the Rules) are developed in accordance with the Law of the Republic of Kazakhstan “On Insurance Activities” (hereinafter referred to as the Law) and establish the procedure and terms for engagement by an insurance (reinsurance) organization an independent actuary to evaluate actuarial calculations of an actuary who has a license to carry out actuarial activities in the insurance market, issued by an authorized body for regulation, control and supervision of the financial market and financial organizations (hereinafter referred to as the authorized body), who is on the staff of an insurance (reinsurance) organization, a branch of a non-resident insurance (reinsurance) organization of the Republic of Kazakhstan (hereinafter referred to as a full-time actuary), sending an independent actuary the results of the reliability assessment calculations carried out by a full-time actuary.

2. An independent actuary is engaged by an insurance (reinsurance) organization to conduct a mandatory or proactive assessment of the actuarial calculations of a full-time actuary.

3. An independent actuary meets the requirements provided for in paragraph 6 of Article 11-1 of the Law.

4. A mandatory assessment by an insurance (reinsurance) organization of the actuarial calculations of a full-time actuary is carried out as of January 1 of the year following the reporting year, at least once a calendar year, and includes an assessment of the size of insurance reserves and insurance liabilities of the insurance (reinsurance) organization.

5. The insurance (reinsurance) organization evaluates the actuarial calculations of a full-time actuary from one independent actuary for no more than 5 (five) years in a row.

6. It is not allowed to engage an independent actuary to evaluate the actuarial calculations of a full-time actuary in the following cases:

an independent actuary is an affiliated person of the insurance (reinsurance) organization, the actuarial calculations of the staff actuary of which are evaluated, its shareholders and (or) management employees and (or) a relative of the staff actuary;

2) in relation to the actuarial calculations of an independent actuary, an assessment was carried out by a staff actuary as an independent actuary within 1 (one) calendar year before the end date of the assessment or as of January 1 of the year preceding the reporting year, depending on which of the specified dates is later;

3) an independent actuary has, over the last 2 (two) calendar years, carried out activities in an insurance (reinsurance) organization that employs an actuary whose actuarial calculations are being assessed.

An independent actuary submits to the authorized body for regulation, control and supervision of the financial market and financial organizations (hereinafter referred to as the authorized body) information about the actuary’s affiliates in Form 1 and information on the implementation of actuarial activities in Form 2 in accordance with Appendix 1 to the Rules.

7. An initiative assessment of actuarial calculations of a full-time actuary is carried out on the initiative of the general meeting of shareholders, the board of directors and (or) the board of an insurance (reinsurance) company, an authorized body of a branch of a non-resident insurance (reinsurance) company of the Republic of Kazakhstan, taking into account the specific tasks, timing and scope of the assessment provided for in the agreement for the assessment concluded between the insurance (reinsurance) company, a branch of the insurance (reinsurance) a non-resident organization of the Republic of Kazakhstan and an independent actuary.

8. The results of the assessment of actuarial calculations of a staff actuary by an independent actuary, including assessment of the reliability of actuarial calculations, are drawn up in the form of an actuarial report on the calculation of insurance reserves of an independent actuary and an actuarial report on the assessment of insurance liabilities of an independent actuary in the forms in accordance with Appendices 2 and 2-1 to the Rules in no less than 3 (three) copies each.

9. A copy of the statements of the insurance (reinsurance) company received in accordance with paragraph 4 of Article 19 of the Law, and calculations made by the independent actuary when assessing the actuarial calculations of the staff actuary are attached to the actuarial conclusions of the independent actuary.

10. One copy of the actuarial report of an independent actuary, with the exception of the mandatory actuarial assessment of actuarial calculations of a full-time actuary, is submitted by an independent actuary to the authorized body within 10 (ten) calendar days after the end of the assessment. One copy of the actuarial report of the independent actuary remains with the independent actuary, the remaining copies are kept by the insurance (reinsurance) organization.

11. The actuarial conclusion for the calculation of insurance reserves of an independent actuary on the mandatory actuarial assessment of actuarial calculations of a full-time actuary as of January 1 of the year following the reporting year is submitted by the independent actuary to the authorized body within 10 (ten) calendar days after the end of the assessment, but no later than May 31 (thirty-first) (inclusive) of the year following the reporting year.

The actuarial report for the calculation of insurance reserves of an independent actuary is submitted with the attachment of a document confirming the membership of the independent actuary in the international association of actuaries (if any) in the form according to Appendix 2 to the Rules.

12. An actuarial report on the assessment of insurance liabilities of an independent actuary on the mandatory actuarial assessment of actuarial calculations of a full-time actuary as of January 1 of the year following the reporting year is submitted by the independent actuary to the authorized body within 10 (ten) calendar days after the end of the assessment, but no later than May 31 (thirty-first) (inclusive) of the year following the reporting year.

An actuarial report on the assessment of insurance liabilities of an independent actuary is submitted with the attachment of a document confirming the membership of the independent actuary in the international association of actuaries (if any), in the form according to Appendix 2-1 to the Rules.

Appendix 1 to the Rules and terms for engaging an independent actuary to check the activities of an actuary on the staff of an insurance (reinsurance) organization, forwarding by an independent actuary the results of checking the reliability of calculations carried out by an actuary on the staff of an insurance (reinsurance) organization Form 1

Information about the actuary's affiliates

Individuals No. Last name, first name, patronymic (if any) Date of birth, individual identification number Grounds for recognition of affiliation Note 1 2 3 4 5 Legal entities No. Full name of the legal entity Date and state registration number of the legal entity, business identification number, postal address and actual location of the legal entity Grounds for recognition of affiliation Date of affiliation Note 1 2 3 4 5 6

Last name, first name, patronymic (if any) of the actuary _____________________________________________ Signature _____________ Date________________

Form 2

Information on the implementation of actuarial activities

for ________ year

No. Type of actuarial services, type of actuarial report Insurance (reinsurance) organization Reason for preparing an actuarial report Subject of actuarial research 1 2 3 4 5

Last name, first name, patronymic (if any) of the actuary _________________________________________________________________________ Signature _____________ Date_________________

Appendix 2 to the Rules and terms for hiring an independent actuary to check the activities of an actuary on the staff of an insurance (reinsurance) organization, sending an independent actuary the results of checking the reliability of calculations carried out by an actuary on the staff of an insurance (reinsurance) organization Form

Actuarial report on the calculation of insurance reserves by an independent actuary

Footnote: Footnote. Appendix 2 - as amended by the resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated December 27, 2024 No. 87 (shall be brought into force three months after the day of its official publication).

The actuarial valuation was carried out as of ______________________.

2. The purpose of drawing up an actuarial report is _____________________________________________________________________________________.

3. Information about the insurance (reinsurance) organization:1) full name ______________________________________________________________________________________________________________;2) location and bank details ___________________________________________;3) date and state registration number ;4) license for the right to carry out insurance (reinsurance) activities (number and date of issue)

4. Information about the independent actuary: 1) last name, first name, patronymic (if any) __________________________________________________________________________________________; 2) place of residence (location) _________; 3) license to carry out actuarial activities (number and date of issue)

5. Customer of the actuarial valuation ___________________________________________________________________________________________________.

6. Type of assessment (mandatory, initiative) _________________________________________________________________________________________________.

7. Basis for the preparation of actuarial calculations ___________________________________________________________________________________________________________________________________________________________________ (agreement, number and date of conclusion of the agreement)

8. List of documents (information) submitted by the insurance (reinsurance) organization _____________________________________________________________________________________________________________________________________________________________________________________________________.

9. Other materials and data used by the actuary (their sources and (or) place of receipt)________________________________________________________________________________________________________________________________________________.

10. Subject of actuarial research (list of tasks)_______________________________________________________________________________________________________________________________________________.

11. The methodology used by the independent actuary in calculating insurance reserves and the reinsurer’s share in insurance reserves: 1) calculation methodology, including description, justification, assumptions and assumptions used by the independent actuary in calculating insurance reserves and the reinsurer’s share in insurance reserves. In the case of an actuarial assessment for the “life insurance” industry, the parameters of the reserve and tariff bases are indicated by type of insurance__________________________________________________________________________; 2) statistical and other data used in actuarial calculations by an independent actuary__________________________________________________________________________________________________________________________________________; 3) the total amount of insurance premiums under existing insurance (reinsurance) contracts, the number of declared losses used by an independent actuary in calculating insurance reserves in by insurance classes______________________________________________________________________________________________________________________________________________;4) methods and models used by an independent actuary to assess the reinsurer’s share in insurance reserves______________________________________________________________________________________________________________________________________________;5) justification for the choice of method for calculating the reserve of occurred but unreported losses (hereinafter referred to as IBNR), the period of losses used to calculate IBNR, the choice of the loss development coefficient, as well as smoothing out large losses______________________________________________________________________________________________________________________________________________;6) justification and calculation of the amount of obligations of the insurance (reinsurance) organization related to re-examination and (or) extension of the degree of disability, deterioration of the health of the beneficiary, taken into account when calculating the INR for the class of compulsory insurance of an employee against accidents during the performance of his labor (official) duties, indicating all the parameters used in calculation_______________________________________________________________________________;7) the table used containing the probabilities of death, disability, illness and values calculated on their basis related to the upcoming life expectancy of males and (or) females (source of formation, construction methodology) when calculating insurance reserves for life insurance contracts and annuity insurance contracts, with its appendix________________________________________________________________________________________________________________________________________________;8) calculation of the amount and justification of the expected expenses directly related to the consideration and settlement of the amount of insurance payments for declared claims, as well as calculation of the average value of paid claims made by groups of insured events ; 9) a conclusion on the presence or absence of additional risks at the insurance (reinsurance) company. If there are additional risks, it is necessary to indicate the amount of increase in insurance reserves; 10) characteristics of the assistance received by the actuary from the involved specialists__________________________________________________________________________.

12. The results and conclusions obtained, including: 1) comparison of the results obtained in the calculation by an actuary on staff of an insurance (reinsurance) organization and an independent actuary in the context of insurance reserves and classes of insurance__________________________________________________________________________; 2) conclusion on the adequacy of insurance reserves obtained in the calculation by an actuary on staff of an insurance (reinsurance) organization, and the results of the analysis of the adequacy of insurance reserves separately for each class of insurance and for the insurance portfolio as a whole__________________________________________________________________________; 3) results and conclusions ___________________________________________________________________________________________________________________.

13. Assessing the correctness of drawing up the conclusion of an actuary on the staff of an insurance (reinsurance) organization, including: 1) compliance of the calculations of an actuary on the staff of an insurance (reinsurance) organization with the requirements of the legislation of the Republic of Kazakhstan on insurance and insurance activities; 2) validity of assumptions and assumptions used by an actuary on the staff of an insurance (reinsurance) organization when calculating insurance reserves; 3) taking into account additional risks of the insurance (reinsurance) organization by an actuary on the staff of the insurance (reinsurance) organization when determining the size of insurance reserves.

14. Recommendations (if absent, indicate “no”)_______________________________________________________________________________________________________________________________________________.

15. Terms of preparation and place of drawing up the actuarial report________________________________________________________________________________________________________________________________________________________________________________________________________________________________.

16. Signature, date and number of copies_______________________________________________________________________________________________________________________________________________

Appendix 2-1 to the Rules and terms for engaging an independent actuary to check the activities of an actuary on the staff of an insurance (reinsurance) company, forwarding by an independent actuary the results of checking the reliability of calculations carried out by an actuary on the staff of an insurance (reinsurance) company Form

Actuarial report on the assessment of insurance liabilities by an independent actuary

Footnote: Footnote. The rules are supplemented by Appendix 2-1 in accordance with the resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated December 27, 2024 No. 87 (shall be enforced three months after the date of its official publication).

The actuarial valuation was carried out as of ______________________.

2. The purpose of drawing up an actuarial report is __________________________________________________________________________________________.

3. Information about the insurance (reinsurance) organization:1) full name _________________________________________________________________________________________________________; 2) location and bank details ______________________________________________________________; 3) date and state registration number ; 4) license for the right to carry out insurance (reinsurance) activities (number and date of issue)

5. Customer of the actuarial valuation ___________________________________________________________________________________________________.

6. Type of assessment (mandatory, initiative) _________________________________________________________________________________________________.

7. Basis for the preparation of actuarial calculations _____________________________________________________________________________________________________________________________________________________________________ (agreement, number and date of conclusion of the agreement)

8. List of documents (information) submitted by the insurance (reinsurance) organization_____________________________________________________________________________________________________________________________________________________________________________________________________________.

10. Subject of actuarial research (list of tasks)_________________________________________________________________________________________________________________________________________.

11. Methodology and models used by the independent actuary in assessing insurance liabilities and assets under issued insurance/reinsurance contracts and outgoing reinsurance contracts: 1) calculation methodology and models, including description, justification, assumptions and assumptions used by the independent actuary in assessing insurance liabilities and assets under issued insurance/reinsurance contracts and outgoing reinsurance contracts.__________________________________________________________________________;

2) statistical and other data and assumptions used in actuarial calculations, including rates of return used to discount cash flows for the purpose of calculating insurance liabilities and assets under issued insurance/reinsurance contracts and outgoing reinsurance contracts, risk adjustment for non-financial risk, a table containing the probabilities of death, disability, illness and values calculated on their basis related to the upcoming life expectancy of male and female persons (or) female (source of formation, construction methodology) when calculating insurance obligations under life insurance contracts and annuity insurance contracts, with its attachment. __________________________________________________________________; 3) characteristics of the assistance received by the actuary from the involved specialists.

12. The results and conclusions obtained, including: 1) comparison of the results obtained in the calculation by an actuary on staff of an insurance (reinsurance) organization and an independent actuary in the context of insurance liabilities and assets ; 2) conclusion on the sufficiency of insurance liabilities obtained in the calculation by an actuary on staff of an insurance (reinsurance) organization, and the results of the analysis of the sufficiency of insurance liabilities for the insurance portfolio in in general; 3) results and conclusions___________________________________________________________________________________________________.

13. Assessing the correctness of drawing up the conclusion of an actuary on staff of an insurance (reinsurance) organization, including: 1) compliance of the calculations of an actuary on staff of an insurance (reinsurance) organization with the requirements of international financial reporting standards; 2) validity of assumptions and assumptions used by an actuary on staff of an insurance (reinsurance) organization when calculating insurance liabilities; 3) taking into account additional risks of the insurance company (reinsurance) organization by an actuary on the staff of the insurance (reinsurance) organization, when determining the amount of insurance liabilities.14. Recommendations (if absent, indicate “no”)_______________________________________________________________________________________________________________________________________________.

15. Terms of preparation and place of drawing up the actuarial report _______________________________________________________________________________________________________________________________________________________________.

16. Signature, date and number of copies_______________________________________________________________________________________________________________________________________________

Appendix 6 to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated August 27, 2018 No. 191

Rules for issuing a license for the right to carry out actuarial activities in the insurance market

Footnote: Footnote. The title is as amended by the resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated November 23, 2022 No. 102 (shall come into force sixty calendar days after the day of its first official publication). Footnote. Appendix 6 - as amended by the resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated March 30, 2020 No. 45 (shall be brought into force twenty-one calendar days after the day of its first official publication).

Chapter 1. General provisions

These Rules for issuing a license for the right to carry out actuarial activities in the insurance market (hereinafter referred to as the Rules) were developed in accordance with Articles 66 and 73 of the Administrative Procedure Code of the Republic of Kazakhstan, Article 40 of the Law of the Republic of Kazakhstan “On Insurance Activities” (hereinafter referred to as the Law), the laws of the Republic of Kazakhstan “On state regulation, control and supervision of the financial market and financial organizations”, “On public services” (hereinafter referred to as the Law on Public Services), “On permits and notifications" and determine the procedure for the provision by the authorized body for regulation, control and supervision of the financial market and financial organizations (hereinafter - the authorized body) of the state service "Issue of a license to carry out actuarial activities" (hereinafter - the state service).

Chapter 2. Procedure for issuing, re-issuing and issuing a duplicate license to carry out actuarial activities

2. To receive a public service, an individual (hereinafter referred to as the applicant) provides documents in accordance with the list of basic requirements for the provision of public services in accordance with Appendix 1 to the Rules.

3. The authorized body issues a license in the form in accordance with Appendix 2 to the Rules.

4. The decision to issue a license is formalized by an order to issue a license to carry out actuarial activities (hereinafter referred to as the order) of an official of the authorized body.

5. The license is subject to renewal in the following cases:

changes in the last name, first name, patronymic (if any) of the individual licensee;

2) the presence of a requirement for re-registration in the laws of the Republic of Kazakhstan.

6. An employee of the authorized body authorized to receive and register an electronic document, on the day the application is received, receives it, registers it and sends it for execution to the unit of the authorized body responsible for the provision of public services (hereinafter referred to as the responsible unit). When an applicant applies after working hours, on weekends and holidays in accordance with the Labor Code of the Republic of Kazakhstan and the Law of the Republic of Kazakhstan “On Holidays in the Republic of Kazakhstan”, the application is accepted on the next working day.

The employee of the responsible department, within 2 (two) working days from the date of registration of the application, checks the completeness of the submitted documents.

If it is established that the submitted documents are incomplete and (or) expired, the employee of the responsible department, within the specified period, prepares and sends to the applicant a reasoned refusal to further consider the application.

When establishing the completeness of the submitted documents, the employee of the responsible unit, during the period of provision of the public service, reviews the documents for compliance with the requirements of paragraph 8 of the list of basic requirements for the provision of the public service “Issue of a license to carry out actuarial activities” in accordance with Appendix 1 to the Rules.

When identifying grounds for refusal to provide a public service, the employee of the responsible unit prepares and sends to the applicant a notice of the preliminary decision to refuse to provide the public service, as well as the time and place (method) of the hearing to provide the applicant with the opportunity to express his position on the preliminary decision.

Notice of the hearing is sent at least 3 (three) business days before the end of the period for providing the public service. The hearing is held no later than 2 (two) working days from the date of notification.

Based on the results of consideration of the documents submitted by the applicant, the hearing, the responsible department prepares draft orders and licenses or refusal to issue a license, signs the result of the provision of public services from an authorized person of the authorized body (hereinafter referred to as the result of the provision of public services).

The employee of the responsible department, within 3 (three) working days after the authorized body makes a decision on issuing, re-registering, issuing duplicates (refusal to issue, re-registering) a license, sends to the applicant the result of the provision of public services in the form of an electronic document certified by the electronic digital signature of an authorized person of the authorized body, to the applicant’s “personal account”.

7. Consideration of a complaint regarding the provision of public services is carried out by the head of the authorized body, the authorized body for assessing and monitoring the quality of the provision of public services (hereinafter referred to as the body considering the complaint).

The complaint is submitted to the service provider, the official whose decision, action (inaction) is being appealed.

The service provider, official, whose decision, action (inaction) is being appealed, no later than 3 (three) working days from the date of receipt of the complaint, send it to the body considering the complaint.

The service recipient's complaint received by the service provider, in accordance with paragraph 2 of Article 25 of the Law of the Republic of Kazakhstan "On State Services", is subject to consideration within 5 (five) working days from the date of its registration.

A service recipient's complaint received by the authorized body for assessing and monitoring the quality of public services is subject to consideration within 15 (fifteen) working days from the date of its registration.

Unless otherwise provided by law, an appeal to the court is allowed after an appeal in a pre-trial manner.

8. The complaint sent to the head of the authorized body shall indicate the surname, first name, and, if desired, patronymic (if any), postal address.

Confirmation of acceptance of the complaint by the head of the authorized body is its registration (stamp, entry number and date) in the office of the authorized body, indicating the surname and initials of the person who accepted the complaint, the date and place of receipt of the response to the filed complaint.

When applying through the portal, information about the appeal procedure can be obtained by calling the single contact center: 8-800-080-7777 or 1414.

When sending a complaint through the portal, the applicant from the “personal account” has access to information about the complaint, which is updated during the processing of the complaint by the authorized body (marks on delivery, registration, execution, response on consideration or refusal to consider).

Appendix 1 to the Rules for issuing a license for the right to carry out actuarial activities in the insurance market

List of basic requirements for the provision of public services "Issue of a license to carry out actuarial activities"

Наименование государственной услуги Выдача лицензии на осуществление актуарной деятельности Наименование подвидов государственной услуги Выдача лицензии на осуществление актуарной деятельности Получение дубликата лицензии Переоформление лицензии 1 Наименование уполномоченного органа Агентство Республики Казахстан по регулированию и развитию финансового рынка (далее - уполномоченный орган) 2 Способы предоставления государственной услуги (каналы доступа) По всем подвидам: Веб-портал "электронного правительства" www.egov.kz (далее - портал). 3 Срок оказания государственной услуги при выдаче лицензии - в течение двадцати рабочих дней; при переоформлении лицензии - в течение трех рабочих дней; при выдаче дубликатов лицензии - в течение двух рабочих дней. 4 Форма оказания государственной услуги По всем подвидам: Электронная (полностью автоматизированнная) 5 Результат оказания государственной услуги По подвидам: 1) выдача лицензии на осуществление актуарной деятельности - лицензия на осуществление актуарной деятельности; 2) получение дубликата лицензии - лицензия на осуществление актуарной деятельности; 3) переоформление лицензии - лицензия на осуществление актуарной деятельности. Мотивированный ответ об отказе в оказании государственной услуги. 6 Размер оплаты, взимаемой с заявителя при оказании государственной услуги, и способы ее взимания в случаях, предусмотренных законодательством Республики Казахстан По подвидам: 1) лицензионный сбор за выдачу лицензии на право осуществления актуарной деятельности составляет 10 (десять) месячных расчетных показателей; 2) лицензионный сбор за переоформление лицензии составляет 10 (десять) процентов от ставки при выдаче лицензии; 3) лицензионный сбор за выдачу дубликата лицензии составляет 100 (сто) процентов от ставки при выдаче лицензии. Оплата лицензионного сбора осуществляется в наличной или безналичной форме через банки второго уровня или организации, осуществляющие отдельные виды банковских операций, а также в безналичной форме через платежный шлюз "электронного правительства". 7 График работы График работы: 1) портал - круглосуточно, за исключением технических перерывов в связи с проведением ремонтных работ (при обращении заявителя после окончания рабочего времени, в выходные и праздничные дни согласно Трудовому кодексу Республики Казахстан (далее - Кодекс) и Закону Республики Казахстан "О праздниках в Республике Казахстан" (далее - Закон о праздниках), прием заявлений и выдача результатов оказания государственной услуги осуществляется на следующий рабочий день). 2) уполномоченный орган - с понедельника по пятницу с 9.00 до 18.30 часов с перерывом на обед с 13.00 до 14.30 часов, кроме выходных и праздничных дней, в соответствии с Кодексом и Законом о праздниках. 8 Перечень документов и сведений, истребуемых у заявителя для оказания государственной услуги Для выдачи лицензии на осуществление актуарной деятельности: 1) заявление в форме электронного документа, удостоверенное электронной цифровой подписью (далее - ЭЦП) заявителя по форме согласно приложению 3 к Правилам; 2) электронная копия документа, удостоверяющего личность (для физических лиц - нерезидентов Республики Казахстан); 3) нотариально засвидетельствованная копия диплома о высшем образовании (предоставляется электронная копия); 4) электронная копия документа, подтверждающего уплату лицензионного сбора, за исключением случаев оплаты через платежный шлюз "электронного правительства"; 5) представляется один из следующих документов в электронном виде: электронная копия документов, свидетельствующих о том, что заявитель прошел обучение и успешно сдал экзамены по курсам, предусмотренным минимальной обязательной программой обучения актуариев, действующей на момент сдачи экзаменов, выданных одной из организацией: организацией, являющейся членом международной актуарной ассоциации; онлайн платформой по обучению актуариев, разработанной Акционерным обществом "Фонд гарантирования страховых выплат"; университетом, учебная программа по специализации "Актуарий" которого соответствует минимальной обязательной программе обучения актуариев. Копия диплома (с приложениями) магистра делового администрирования по специализации "Актуарий" или диплома магистра экономики и бизнеса по специальности "Финансы" по специализации "Актуарий" с рейтингом не менее восьмидесяти процентов по каждому курсу, относящемуся к минимальной обязательной программе обучения актуариев, действующей на момент прохождения обучения и сдачи экзамена. Копия диплома (с приложениями) бакалавра или магистра по образовательной программе, связанной с актуарной деятельностью или актуарной наукой (Actuarial science), специализации "Актуарий", "Актуарное дело" и наличие одного из международных профессиональных квалификационных сертификатов: CFA (Chartered Financial Analyst (Чартеед Файнаншл Аналист), FRM (Financial Risk Manager)(Файнаншл риск менеджер), PRM (Professional Risk Manager) (Файншл риск менеджер), CERA (Chartered Enterprise Risk Analyst) (Профессиональный риск менеджер), DipIFR (ACCA) (Diploma in International Financial Reporting), Chartered Insurance Institute (CII) (квалификация Certificate, Diploma или Advanced Diploma). 6) для физических лиц-нерезидентов Республики Казахстан - электронные копии документов, подтверждающих статус актуария и членство в международных ассоциациях актуариев, согласно Перечню и требованиям к международным ассоциациям актуариев, утвержденным согласно приложению 2 к настоящему постановлению; 7) электронные копии документов, свидетельствующих о том, что заявитель на получение лицензии сдал международные экзамены, соответствующие требованиям минимальной обязательной программы обучения актуариев, утвержденной согласно приложению 1 к настоящему постановлению (при наличии). Международными экзаменами признаются экзамены, которые покрывают минимальные перечни разделов, включенные в содержание минимальной обязательной программы обучения актуариев, предусмотренной приложением 1 к настоящему постановлению; 8) электронная копия документа, подтверждающего наличие опыта работы не менее одного года в области проведения актуарных исследований и (или) актуарных расчетов в финансовых организациях, в уполномоченном органе. Лицензия на осуществление актуарной деятельности выдается при соблюдении требований, предусмотренных пунктом 3 статьи 40 Закона Республики Казахстан "О страховой деятельности" (далее - Закон). Для получения дубликата лицензии (если ранее выданная лицензия была оформлена в бумажной форме): запрос в форме электронного документа, удостоверенный ЭЦП заявителя. Для переоформления лицензии: 1) запрос в форме электронного документа, удостоверенный ЭЦП заявителя; 2) электронные копии документов, содержащих информацию об изменениях, послуживших основанием для переоформления лицензии, за исключением документов, информация из которых содержится в государственных информационных системах. 9 Основания для отказа в оказании государственной услуги, установленные законодательством Республики Казахстан Выдача лицензии на осуществление актуарной деятельности: 1) несоответствие представленных документов требованиям законодательства Республики Казахстан о страховании и страховой деятельности; 2) наличие данных о лишении лицензии по основаниям, предусмотренным подпунктами 2-1), 2-2) и 3) пункта 1 статьи 60 Закона; 3) отрицательный результат тестирования, проведенного уполномоченным органом. 4) отсутствие согласия услугополучателя, предоставляемого в соответствии со статьей 8 Закона Республики Казахстан "О персональных данных и их защите", на доступ к персональным данным ограниченного доступа, которые требуются для оказания государственной услуги. Переоформление лицензии: уполномоченный орган отказывает в переоформлении лицензии в случае ненадлежащего оформления документов, указанных в пункте 8 перечня основных требований к оказанию государственной услуги. 10 Иные требования с учетом особенностей оказания государственной услуги Адреса мест оказания государственной услуги и контактные телефоны справочных служб по вопросам оказания государственной услуги размещены на официальном интернет-ресурсе уполномоченного органа. Заявитель имеет возможность получения информации о порядке и статусе оказания государственной услуги в режиме удаленного доступа посредством "личного кабинета" портала, а также единого контакт-центра по вопросам оказания государственных услуг. В случае обнаружения сбоя либо технических неполадок на портале необходимо обратиться в единый контакт-центр по вопросам оказания государственных услуг. Единый контакт-центр по вопросам оказания государственных услуг: 8-800-080-7777 или 1414.

Appendix 2 to the Rules for issuing a license for the right to carry out actuarial activities in the insurance market

Footnote: Footnote. The text in the upper right corner is as amended by the resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated November 23, 2022 No. 102 (shall be brought into force sixty calendar days after the day of its first official publication).

Form

State Emblem of the Republic of Kazakhstanfull name of the authorized state body

License to carry out actuarial activities

License number _____ Date of issue of the license "" ____ 20 This license was issued _____________________________________________________________________ (last name, first name, patronymic (if any) _____________________________________________________________________ Data on the license to carry out actuarial activities obtained for the first time _____________________________________________________________________ (number, date, name of the authorized body _____________________________________________________________________ exercising state regulation, control and supervision _____________________________________________________________________ of the financial market and financial organizations that issued the license) Chairman (Deputy Chairman) ________________________________ ________________ (place of issue)

Appendix 3 to the Rules for issuing a license for the right to carry out actuarial activities in the insurance market

Form

Application for a license to carry out actuarial activities

To ________________________________________________________________ (full name of the authorized body that carries out ________________________________________________________________ state regulation, control and supervision of the financial market ________________________________________________________________ and financial organizations) From ________________________________________________________________ ________________________________________________________________ (last name, first name, patronymic (if any) and individual identification number of the individual) I request to issue a license to carry out actuarial activities. I provide consent to the collection and processing of personal data necessary for the provision of the state service “Issue of a license to carry out actuarial activities”. I provide consent to the use of information that constitutes a legally protected secret contained in information systems. Information about the individual: 1) education _________________________________________________ _______________________________________________________________ _______________________________________________________________; (year of graduation, specialty, name of educational institution) _______________________________________________________________; 2) place of work, position ________________________________________________ _______________________________________________________________ ________________________________________________; 3) telephone numbers (area code, work and home) __________________________________________________________. The actuary fully confirms the accuracy of the documents (information) attached to the application. _______________ ________________________________________ (signature) (last name, first name, patronymic (if any) "" __________ 20

Appendix 7 to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated August 27, 2018 No. 191

Testing rules

Footnote: Footnote. Appendix 7 - as amended by the resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated March 30, 2020 No. 45 (shall be brought into force upon the expiration of twenty-one calendar days after the day of its first official publication).

These Testing Rules (hereinafter referred to as the Rules) were developed in accordance with paragraph 3 of Article 40 of the Law of the Republic of Kazakhstan “On Insurance Activities” and establish the procedure for testing.

2. Computer testing for knowledge of the legislation of the Republic of Kazakhstan on insurance and insurance activities is carried out by the authorized body for regulation, control and supervision of the financial market and financial organizations (hereinafter referred to as the authorized body) for 30 minutes on 30 questions. Test questions include at least three possible answers, one of which is correct.

3. The authorized body notifies the service recipient by sending a message, certified by the digital signature of the authorized person of the service provider, about the date of the computer testing, which takes place at the location of the authorized body. In case of failure to appear for valid reasons to undergo computer testing within the prescribed period, the applicant informs the authorized body about this, indicating the reasons for the failure to appear and the possible date for taking computer testing.

4. During computer testing, only employees of the authorized body and an interpreter, if necessary, are allowed to be present in the same room with the person being tested.

The use of any written, electronic or other information materials is not permitted during computer-based testing. Violation of the requirements set out in this paragraph of the Rules is equivalent to a negative result of computer testing.

5. The result of computer testing is considered positive if the applicant receives at least seventy percent of correct answers.

The applicant is subject to familiarization with the results of computer testing by signing immediately after passing the test.

Appendix 8 to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated August 27, 2018 No. 191

Application for a license to carry out actuarial activities

Footnote: Footnote. Appendix 8 was excluded by the Resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated March 30, 2020 No. 45 (shall be brought into force twenty-one calendar days after the day of its first official publication).

Appendix 9 to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated August 27, 2018 No. 191

Information about the applicant for a license to carry out actuarial activities

Footnote: Footnote. Appendix 9 was excluded by Resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated March 30, 2020 No. 45 (shall be enforced twenty-one calendar days after the day of its first official publication).

Actuary qualification & actuarial opinion (Resolution No. 191)

Actuarial Qualification, the Actuarial Opinion and Licensing (Resolution No. 191)

Requisites

Subject of the document

Relevance for actuarial practice

Official source

English Translation (Auto-generated)

Minimum Required Actuarial Training Program

List and requirements for international associations of actuaries

Requirements for the content and procedure for providing a mandatory actuarial report

Actuarial report on the calculation of insurance reserves

Actuarial report on a major transaction

Requirements for confirming qualifications of an actuary

Professional Development Program

Information on confirming the qualifications of a licensed actuary

Information about the actuary's affiliates

Information on the implementation of actuarial activities

Actuarial report on the calculation of insurance reserves by an independent actuary

Rules for issuing a license for the right to carry out actuarial activities in the insurance market

Chapter 1. General provisions

Chapter 2. Procedure for issuing, re-issuing and issuing a duplicate license to carry out actuarial activities

List of basic requirements for the provision of public services "Issue of a license to carry out actuarial activities"

State Emblem of the Republic of Kazakhstanfull name of the authorized state body

License to carry out actuarial activities

Application for a license to carry out actuarial activities

Testing rules

Application for a license to carry out actuarial activities

Information about the applicant for a license to carry out actuarial activities