Prudential standards of an insurance (reinsurance) organization

Unofficial English summary prepared for informational purposes. Official source: Әділет / adilet.zan.kz. Version checked: 2026-06-20. This is a reference card; in case of discrepancies, the official Kazakh and Russian texts prevail.

Metadata


Act number	№ 304
Act type	Regulator's resolution
Authority	National Bank of the RK
Adoption date	26.12.2016
Last amended	27.01.2026
Status	In force
Әділет identifier	V1600014794

Scope and relevance

A dedicated prudential act: the normative values and calculation methodologies for the prudential standards of insurers and insurance groups (minimum charter capital, solvency margin, sufficiency of highly liquid assets) and other mandatory norms and limits.

Official source

Official source: Adilet / https://adilet.zan.kz/rus/docs/V1600014794 The relevance of the editorial office has been verified: 2026-06-20.

Footnote: Footnote. The title is as amended by the resolution of the Board of the National Bank of the Republic of Kazakhstan dated November 28, 2019 No. 214 (to come into effect from January 1, 2020).

In accordance with paragraph 10 of Article 46, paragraphs 3, 4 and 9 of Article 48 of the Law of the Republic of Kazakhstan “On Insurance Activities”, the Board of the National Bank of the Republic of Kazakhstan DECIDES:

Install:

standard values and methods for calculating prudential standards of an insurance (reinsurance) company and insurance group and other mandatory standards and limits (hereinafter referred to as the Standards) in accordance with Appendix 1 to this resolution;

4) requirements for shares (stakes in the authorized capital) of legal entities acquired by insurance (reinsurance) organizations, subsidiaries of insurance (reinsurance) organizations or insurance holding companies in accordance with Appendix 4 to this resolution;

5) a list of bonds of international financial organizations acquired by insurance holding companies in accordance with Appendix 5 to this resolution;

6) the minimum required rating for bonds purchased by insurance holding companies, and the list of rating agencies in accordance with Appendix 6 to this resolution;

7) a list of financial instruments (except for shares and participation interests in the authorized capital) acquired by insurance (reinsurance) organizations in accordance with Appendix 7 to this resolution.

2. To recognize as invalid the normative legal acts of the Republic of Kazakhstan, as well as the structural elements of some normative legal acts of the Republic of Kazakhstan according to the list in accordance with Appendix 8 to this resolution.

3. The Department of Insurance Supervision (Kurmanov Zh.B.), in accordance with the procedure established by the legislation of the Republic of Kazakhstan, ensures:

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

2) sending this resolution to the republican state enterprise with the right of economic management "Republican Center for Legal Information of the Ministry of Justice of the Republic of Kazakhstan" for inclusion in the State Register of Regulatory Legal Acts of the Republic of Kazakhstan, the Reference Control Bank of Regulatory Legal Acts of the Republic of Kazakhstan within ten calendar days from the date of its state registration with the Ministry of Justice 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. The Department for the Protection of the Rights of Consumers of Financial Services and External Communications (A.L. Terentyev) shall ensure that this resolution is sent for official publication in periodicals within ten calendar days after its state registration with the Ministry of Justice of the Republic of Kazakhstan.

5. Control over the implementation of this resolution shall be assigned to the Deputy Chairman of the National Bank of the Republic of Kazakhstan O.A. Smolyakov.

6. This resolution comes into effect upon the expiration of ten calendar days after the day of its first official publication, with the exception of subparagraph 3) of paragraph 12 and part two of paragraph 23 of the Regulations, which come into force on January 1, 2018.

Chairman of the National Bank D. Akishev

"AGREED"Chairman of the Committee on Statistics of the Ministry of National Economy of the Republic of KazakhstanN. Aidapkelov _____________________January 11, 2017

Appendix 1 to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated December 26, 2016 No. 304

Regulatory values and methods for calculating prudential standards of an insurance (reinsurance) company and insurance group and other mandatory norms and limits.

Chapter 1. General provisions

These Regulatory values and methods for calculating prudential standards of an insurance (reinsurance) organization and insurance group and other mandatory norms and limits (hereinafter referred to as the Standards) are developed in accordance with the laws of the Republic of Kazakhstan “On Insurance Activities” (hereinafter referred to as the Law), “On State Regulation, Control and Supervision of the Financial Market and Financial Organizations” and establish normative values and methods for calculating prudential standards of insurance (reinsurance) organization and insurance group and other mandatory standards and limits.

2. Standard values for an insurance (reinsurance) organization and an insurance group are established in accordance with Article 46 of the Law and are calculated on the basis of reporting accepted by the National Bank of the Republic of Kazakhstan in accordance with subparagraph 48) of paragraph two of the second part of paragraph 19 of the Regulations on the National Bank of the Republic of Kazakhstan, approved by Decree of the President of the Republic of Kazakhstan dated December 31, 2003 No. 1271 “On approval of the Regulations and structure of the National Bank Republic of Kazakhstan".

2-1. For the purposes of calculating the Standards, insurance reserves are calculated in accordance with Resolution of the Board of the National Bank of the Republic of Kazakhstan dated January 31, 2019 No. 13 “On approval of the Requirements for the formation, methodology for calculating insurance reserves and their structure”, registered in the Register of State Registration of Normative Legal Acts under No. 18290 (hereinafter referred to as the Requirements for the formation, methodology for calculating insurance reserves and their structure). structure).

3. Prudential standards and other mandatory norms and limits for insurance (reinsurance) organizations include:

minimum amount of authorized capital;

solvency margin adequacy standard;

adequacy standard for highly liquid assets;

asset diversification standards;

the amount of the insurance (reinsurance) company's own deduction under the insurance, reinsurance, co-insurance (joint reinsurance) agreement(s).

Additional prudential standards for insurance (reinsurance) organizations include:

reserve for unforeseen risks;

stabilization reserve.

The insurance (reinsurance) organization ensures daily compliance with the solvency margin adequacy standard, the sufficiency standard for highly liquid assets, and asset diversification standards.

4. The prudential standard for insurance groups is the adequacy standard for the solvency margin of the insurance group.

Chapter 2. Minimum amount of authorized capital of an insurance (reinsurance) company

5. The minimum amount of authorized capital for a newly created insurance (reinsurance) company upon receipt of a license for the right to carry out insurance activities (reinsurance activities) is established in accordance with the Minimum amount of authorized capital of an insurance (reinsurance) company in accordance with Appendix 1 to the Regulations.

6. For the purposes of calculating the minimum amount of authorized capital, the size of the monthly calculation indicator established by the law on the republican budget for the corresponding financial year, on the day of creation of the insurance (reinsurance) organization, is used.

Chapter 3. Solvency margin adequacy standard

Paragraph 1. Calculation of the solvency margin adequacy standard

7. The solvency margin sufficiency standard is calculated as the ratio of the actual solvency margin to the minimum solvency margin according to the formula:

Nmp - the solvency margin adequacy standard;

FMP - actual solvency margin;

MMP is the minimum solvency margin.

The adequacy ratio of the solvency margin of an insurance (reinsurance) organization must be at least 1 (unit).

8. The minimum solvency margin is calculated in accordance with paragraphs 2 and 3 of this chapter of the Regulations. If the calculated minimum size of the solvency margin is less than the minimum size of the guarantee fund established in paragraph 4 of this chapter of the Regulations, then the minimum size of the solvency margin is a value equal to the minimum size of the guarantee fund.

9. The minimum size of the solvency margin of an insurance (reinsurance) organization increases by the amount of insurance premiums transferred (transferred) for reinsurance to insurance (reinsurance) organizations - residents and non-residents of the Republic of Kazakhstan under existing reinsurance contracts concluded depending on the rating assessment of the reinsurer or the value of the solvency margin sufficiency standard of a resident reinsurance organization of the Republic of Kazakhstan for the previous reporting period date, in accordance with the amount of increase in the minimum size of the solvency margin, calculated according to the Table of increase in the minimum size of the solvency margin from insurance premiums transferred (transferred) to reinsurance in accordance with Appendix 3 to the Standards.

The minimum solvency margin of an insurance (reinsurance) organization increases by a value equal to 1 (one) percent of the current value of assets created (formed) at the expense of part of the insurance premiums (insurance contributions) received from policyholders for investment purposes, and income (losses) received from their investment, under insurance contracts that provide for the condition of the policyholder's participation in investments.

10. In addition to the ratings of the Standard & Poor's agency (Standard & Poor's), the authorized body for regulation, control and supervision of the financial market and financial organizations (hereinafter referred to as the authorized body) also recognizes the ratings of the agencies Moody's Investors Service (Moody's Investors Service), Fitch (Fitch), A.M. Best and Morningstar (A.M. Best and (Morninstar), their subsidiaries rating organizations and rating agencies that meet the criteria established by paragraph 10-2 of the Regulations, subject to the conditions established by paragraph 10-1 of the Regulations (hereinafter referred to as other rating agencies).

Rating estimates from the A.M. agency Best (A.M.Best) are used only for the purpose of recognizing the reinsurer's rating and calculating the insurance company's own retention.

Morningstar ratings are used only for the purpose of evaluating Exchange Traded Funds (ETF), Exchange traded commodities (ETC), Exchange Traded Notes (ETN).

For the purposes of the Standards, long-term credit ratings, financial stability ratings of an insurance (reinsurance) company or corresponding ratings are used in accordance with the comparative table of long-term ratings in accordance with Appendix 2 to the Standards.

10-1. When calculating the Standards, long-term credit ratings assigned by rating agencies that meet the criteria established by paragraph 10-2 of the Standards, according to the international rating scale, are used only in relation to foreign rating objects.

10-2. For the purposes of the Standards, the authorized body recognizes the ratings of rating agencies that meet the following criteria:

the rating agency is subject to regulation in the country of origin and the rating agency’s assessments are recognized within the framework of prudential regulation;

2) the minimum amount of equity capital of the rating agency is an amount equivalent to at least 600,000,000 (six hundred million) tenge;

3) objectivity, independence and responsibility:

the methodology used by the rating agency is reliable and subject to verification based on historical and/or expected default data, and also contains a detailed description of all key quantitative and qualitative factors that determine the ability of the rated entity to meet its financial obligations, as well as a description of their impact on credit ratings and credit rating forecasts;

the rating agency is not controlled by government agencies or officials in government agencies, quasi-public sector entities or political parties and who do not interfere with the activities of the rating agency and do not have influence on the rating processes;

legal entities to which a rating agency assigns, confirms or revises a rating are not affiliated with the rating agency, with the exception of persons who directly own less than 10 (ten) percent of the shares of the rating agency and do not have influence on the rating activities of the rating agency;

rating analysts of the rating agency participating in rating actions in relation to the rated entity are not and have not been in employment or business relations with the rated entity during the last 3 (three) years before the date of the rating action, and also do not own directly or indirectly, including through close relatives, securities, other financial instruments or other property of the rated entity or persons exercising control over the rated entity or exerting significant influence on such entity;

the rating agency has an internal audit or internal control service, including one that carries out internal audit functions, reporting to the board of directors of the rating agency;

in the rating agency, at least one third, but at least two members of the board of directors are independent members who do not carry out rating actions, advertise the services of the rating agency and other actions to attract clients;

the share of direct or indirect ownership of shares of each shareholder of the rating agency does not exceed 50 (fifty) percent of the total number of voting shares of this rating agency, in the case where the shareholder is a financial organization, the share of direct ownership does not exceed 10 (ten) percent;

The rating agency's internal procedures provide measures to prevent misuse and disclosure of information and ensure the security and confidentiality of information;

4) transparency and disclosure of information:

The rating agency ensures that the following information is disclosed on the rating agency’s Internet resource:

the methodology used by the rating agency when determining the rating;

a list of credit ratings assigned over the last year, as well as rated entities and other entities, the share of cash receipts from which amounted to 5 (five) percent or more in the annual revenue of the rating agency as of the end of the last expired calendar year;

5) reliability of ratings:

the rating agency has been carrying out rating activities on a regular basis for at least the last 5 (five) years;

the number of organizations to which the rating agency assigned and revised a credit rating is at least thirty, including at least twenty over the last 3 (three) years, of which at least five were financial organizations;

the rating agency personnel directly involved in assigning ratings have the appropriate education, skills and experience;

at least one employee participating in the process of making rating decisions, who is a member of the body making the rating decision (hereinafter referred to as the rating committee), has at least two years of experience in a rating agency, or in an analytical agency, or in a research center, or in a financial organization, or in an audit organization;

the rating committee has at least five rating analysts, including the leading rating analyst for the rated entity and (or) its financial obligations or financial instruments (hereinafter referred to as the rating object), the chairman of the rating committee and one rating analyst specializing in the type of rating objects to which the rating object under consideration does not belong (in the event that the rating agency carries out activities to assign ratings in relation to various types of rating objects);

The rating agency monitors assigned ratings on an ongoing basis, and also ensures a timely response to changing factors associated with changes in the financial position, corporate governance or other aspects of the rated entity's activities, changes in macroeconomic conditions or financial market conditions, as evidenced by actual rating updates no later than 1 (one) calendar year from the date of assignment or last revision of the rating or the date of the last revision of the methodology applied by the rating agency.

The rating agency sends a request to the authorized body to accept the rating estimates of the rating agency for the purposes of prudential regulation with supporting documents attached.

If the rating agency meets the criteria established by part one of this paragraph, the authorized body on the official Internet resource, no later than 30 (thirty) business days from the date of receipt of the rating agency’s request to accept its rating assessments, publishes information about the rating agency and the comparability of international rating scales of rating agencies.

The methodologies used by the rating agency are validated by the authorized body during the rating agency’s initial application to the authorized body and at least 1 (once) time a year.

When making changes to the methodologies used by the rating agency, the rating agency, no later than 10 (ten) business days, sends information to the authorized body indicating the reasons and consequences of such changes.

Paragraph 2. Calculation of the minimum solvency margin for an insurance (reinsurance) company carrying out insurance activities in the “general insurance” industry and a reinsurance company carrying out reinsurance as an exclusive type of activity

11. The minimum size of the solvency margin for an insurance (reinsurance) organization carrying out insurance activities in the “general insurance” industry and a reinsurance organization carrying out reinsurance as an exclusive type of activity is a value equal to the maximum value of one of the values calculated using the methods specified in paragraphs 12 and 13 of the Regulations.

12. The procedure for calculating the minimum solvency margin using the “premium method”:

the calculation is carried out based on the amount of total insurance premiums accepted under insurance (reinsurance) contracts for the previous financial year, or the total earned insurance premiums for the previous financial year, of which the largest value is taken for calculation;

2) the amount of total insurance premiums (total earned premiums) accepted by an insurance (reinsurance) organization in the class “compulsory civil liability insurance of vehicle owners” (hereinafter referred to as OGPO VTS) is subject to increase by 50 (fifty) percent.

The amount of total insurance premiums (earned premiums) accepted by an insurance (reinsurance) organization for the OPPO VTS class within the insurance pool:

with the participation of 80 (eighty) or more percent of insurance organizations licensed under the OPPO MTC class, is not subject to increase;

with the participation of no less than 50 (fifty) and no more than 80 (eighty) percent of insurance organizations licensed under the OPPO MTC class, is subject to an increase of 25 (twenty-five) percent.

3) the amount of total insurance premiums (total earned premiums), calculated in accordance with subparagraphs 1), 2) of this paragraph, is reduced by the amount of expenses for payment of commissions for insurance activities, as well as by the amount of corporate income tax;

4) the amount of insurance premiums calculated in accordance with subparagraphs 1), 2) and 3) of this paragraph in an amount not exceeding 3,500,000,000 (three billion five hundred million) tenge, is multiplied by 18 (eighteen) percent, the remaining excess amount is multiplied by 16 (sixteen) percent.

The results obtained are summarized and adjusted by a correction factor calculated in accordance with subparagraph 5) of this paragraph;

5) the adjustment factor is calculated as the ratio of the amount of total insurance payments (minus the reinsurer’s share in insurance payments) accrued for the previous 3 (three) financial years to the amount of total insurance payments accrued for the previous 3 (three) financial years. If the value of the correction factor obtained as a result of the calculation is less than 0.5 (zero point five), then 0.5 (zero point five) is accepted for calculation.

The adjustment factor is not applied when calculating the minimum solvency margin if the insurance (reinsurance) organization has not made insurance payments for the previous 3 (three) financial years.

13. The procedure for calculating the minimum solvency margin using the “payment method”:

for the calculation, the amount of total insurance payments accrued for the previous 3 (three) financial years is used.

An insurance organization engaged exclusively in insuring the risks specified in subparagraphs 13) and 14) of paragraph 3 of Article 6 of the Law uses the amount of total insurance payments for the previous 7 (seven) financial years for calculation;

2) the amount of total insurance payments made by an insurance (reinsurance) organization in the class “compulsory civil liability insurance of vehicle owners” is subject to an increase of 50 (fifty) percent;

3) the amount of total insurance payments increases by the amount of the reserve for declared but unresolved losses at the end of the previous financial year and decreases:

by the amount of the reserve for declared but unresolved losses at the end of the financial year, for 3 (three) years preceding the reporting financial year;

for insurance organizations specified in paragraph two of subparagraph 1) of this paragraph - in the amount of the reserve for declared but unresolved losses at the end of the financial year, for 7 (seven) years preceding the reporting financial year;

4) to calculate the minimum solvency margin of an insurance (reinsurance) company, the following is used:

one third of the amount received in accordance with paragraph two of subclause 3) of this clause;

for insurance organizations specified in paragraph two of subparagraph 1) of this paragraph - one seventh of the amount received in accordance with paragraph three of subparagraph 3) of this paragraph;

5) the amount of insurance payments calculated in accordance with subparagraphs 1), 2), 3) and 4) of this paragraph in an amount not exceeding 2,500,000,000 (two billion five hundred million) tenge, is multiplied by 26 (twenty-six) percent, the remaining excess amount is multiplied by 23 (twenty-three) percent.

The results obtained are summarized and adjusted by a correction factor calculated in accordance with subparagraph 5) of paragraph 12 of the Standards.

If the insurance (reinsurance) organization did not make insurance payments within the period specified in subparagraph 1) of this paragraph, then the calculation of the minimum solvency margin is carried out without using the “payment method”.

14. The minimum solvency margin increases by the following amounts:

under insurance (reinsurance) contracts by classes in the voluntary form of insurance specified in subparagraphs 13), 14), 15-1) and 16) of paragraph 3 of Article 6 of the Law - by 10 (ten) percent of insurance premiums under existing insurance (reinsurance) contracts for these insurance classes at the end of the reporting period;

under insurance (reinsurance) contracts according to the class in the voluntary form of insurance specified in subparagraph 12) of paragraph 3 of Article 6 of the Law, the object of insurance for which is the property interests of the policyholder or beneficiary associated with compensation for losses as a result of failure (improper performance) by the policyholder (insured) of its obligations under an agreement concluded between the policyholder, the insured or a third party - by 10 (ten) percent of the insurance premiums for the current insurance (reinsurance) contracts for this insurance class at the end of the reporting period;

under insurance (reinsurance) contracts providing for compensation for financial losses of persons associated with an insurance (reinsurance) company by special relations, within the classes in the voluntary form of insurance specified in subparagraphs 13), 14), 15-1) and 16) of paragraph 3 of Article 6 of the Law - an additional 10 (ten) percent of the insurance premium under insurance (reinsurance) contracts in force at the end of the reporting period.

The requirement specified in paragraph two of this paragraph does not apply to cases of concluding insurance (reinsurance) contracts by class in the voluntary form of insurance specified in subparagraphs 13), 14), 15-1) and 16) of paragraph 3 of Article 6 of the Law, within the framework of an insurance pool, with the participation of at least five insurance organizations.

15. If the minimum solvency margin of an insurance (reinsurance) organization for the reporting period is less than for the previous financial year, then the minimum solvency margin for the reporting period is equal to the minimum solvency margin for the previous financial year, adjusted by the reserve ratio calculated in accordance with paragraph 16 of the Regulations.

If the minimum solvency margin for the previous financial year, adjusted by the reserve ratio, is less than the minimum solvency margin for the reporting period, then the minimum solvency margin for the reporting period is used for calculation.

16. The reserve ratio is calculated as the ratio of the amount of the reserve for declared but unresolved losses (minus the share of the reinsurer) at the end of the previous financial year to the amount of the reserve for declared but unresolved losses (minus the share of the reinsurer) at the beginning of the previous financial year. If the value of the reserve coefficient obtained as a result of the calculation is more than 1 (unit), then 1 (unit) is accepted for calculation.

16-1. In the event that the minimum solvency margin for insurance (reinsurance) organizations whose share of the amount of insurance premiums for the classes “health insurance” and “compulsory tourist insurance” is more than 80 (eighty) percent of the total volume of insurance premiums under existing insurance (reinsurance) contracts as of the reporting date is the value calculated using one of the methods specified in paragraphs 12 and 13 of the Regulations, then the minimum solvency margin is reduced by 30 (thirty) percent.

Paragraph 3. Calculation of the minimum solvency margin for an insurance (reinsurance) organization carrying out insurance activities in the “life insurance” industry

17. The calculation of the minimum solvency margin for an insurance organization operating in the life insurance industry is carried out separately according to:

in the classes “life insurance”, “life insurance within the framework of the state educational savings system”, “pension annuity insurance”, “annuity insurance”, as well as under annuity insurance and pre-retirement annuity insurance contracts concluded within the class “compulsory insurance of an employee against accidents during the performance of his labor (official) duties”;

2) in the classes “accident insurance”, “sickness insurance”, “compulsory tourist insurance” and “compulsory insurance of an employee against accidents during the performance of his labor (official) duties”.

To calculate the minimum solvency margin of an insurance organization, amounts calculated in accordance with paragraphs 18 and 23 of the Regulations are accepted.

18. The calculation of the minimum solvency margin of an insurance (reinsurance) organization for the classes “life insurance”, “life insurance within the framework of the state educational savings system”, “pension annuity insurance”, “annuity insurance”, as well as for annuity insurance and pre-retirement annuity insurance contracts concluded within the class “compulsory insurance of an employee against accidents during the performance of his labor (official) duties”, represents is a value equal to the sum of the values calculated in accordance with paragraphs 19 and 21 of the Standards.

19. The minimum solvency margin for life insurance contracts in case of death, for which the capital at risk is not a negative value, is equal to the sum of the following values:

for life insurance contracts in case of death (for a period of up to 3 (three) years) - 0.1 (zero point one) percent of the amount of capital at risk, multiplied by an adjustment factor calculated as the ratio of capital at risk under life insurance contracts in case of death (minus the reinsurer’s share) to capital at risk. If the value of the correction factor obtained as a result of the calculation is less than 0.5 (zero point five), then 0.5 (zero point five) is accepted for calculation;

2) under life insurance contracts in case of death (for a period of 3 (three) to 5 (five) years) - 0.15 (zero point fifteen) percent of the amount of capital at risk, multiplied by an adjustment factor calculated as the ratio of capital at risk under life insurance contracts in case of death (minus the reinsurer’s share) to capital at risk. If the value of the correction factor obtained as a result of the calculation is less than 0.5 (zero point five), then 0.5 (zero point five) is accepted for calculation;

3) for other life insurance contracts in case of death - 0.3 (zero point three) percent of the amount of capital at risk, multiplied by an adjustment factor calculated as the ratio of capital at risk under life insurance contracts in case of death (minus the reinsurer's share) to capital at risk. If the value of the correction factor obtained as a result of the calculation is less than 0.5 (zero point five), then 0.5 (zero point five) is accepted for calculation.

20. Capital at risk is the total insurance amount under existing life insurance contracts in the event of death at the end of the previous financial year, reduced by the amount of calculated insurance reserves for them.

21. The minimum solvency margin for other insurance contracts in the classes “life insurance”, “life insurance within the framework of the state educational savings system”, “annuity insurance”, as well as under annuity insurance and pre-retirement annuity insurance contracts concluded within the class “compulsory insurance of an employee against accidents during the performance of his labor (official) duties”, is equal to the product of 4 (four) percent of the amount of calculated insurance reserves and an adjustment coefficient calculated as the ratio of the amount of formed insurance reserves minus the reinsurer’s share in insurance reserves at the end of the previous financial year to the total amount of formed insurance reserves at the end of the previous financial year. If the value of the adjustment factor obtained as a result of the calculation is less than 0.85 (zero point eighty-five hundredths), then 0.85 (zero point eighty-five hundredths) is accepted for calculation, with the exception of pension annuity contracts.

The minimum solvency margin for pension annuity contracts concluded:

until January 1, 2023, equal to the product of 6 (six) percent of the amount of calculated insurance reserves and an adjustment factor calculated as the ratio of the amount of formed insurance reserves minus the reinsurer’s share in insurance reserves at the end of the previous financial year to the total amount of formed insurance reserves at the end of the previous financial year. If the value of the correction factor obtained as a result of the calculation is less than 0.85 (zero point eighty-five hundredths), then 0.85 (zero point eighty-five hundredths) is accepted for calculation;

2) after January 1, 2023, equal to the product of 4 (four) percent of the amount of calculated insurance reserves and an adjustment factor calculated as the ratio of the amount of formed insurance reserves minus the reinsurer’s share in insurance reserves at the end of the previous financial year to the total amount of formed insurance reserves at the end of the previous financial year. If the value of the correction factor obtained as a result of the calculation is less than 0.85 (zero point eighty-five hundredths), then 0.85 (zero point eighty-five hundredths) is accepted for calculation.

23. For the classes “accident insurance”, “sickness insurance”, “compulsory tourist insurance” and “compulsory insurance of an employee against accidents during the performance of his labor (official) duties”, the minimum solvency margin is calculated in accordance with paragraphs 11, 12, 13 of the Standards.

Paragraph 4. Minimum size of the guarantee fund

24. The minimum size of the guarantee fund for insurance (reinsurance) organizations is no less than the following values (in monthly calculation indices):

for an insurance organization licensed in the “general insurance” industry – 500,000 (five hundred thousand);

for an insurance organization licensed in the “life insurance” industry – 500,000 (five hundred thousand);

for an insurance organization that has a license for the general insurance industry and a license for reinsurance - 700,000 (seven hundred thousand);

for an insurance organization that has a license for the life insurance industry and a license for reinsurance - 700,000 (seven hundred thousand).

25. The minimum size of the guarantee fund for insurance (reinsurance) organizations is reduced by 30 (thirty) percent if the share of the amount of insurance premiums for the classes “health insurance” and “compulsory tourist insurance” is more than 80 (eighty) percent in the total volume of insurance premiums under existing insurance (reinsurance) contracts as of the reporting date.

26. For an insurance organization licensed in the “general insurance” industry in the “mortgage insurance” class, the minimum size of the guarantee fund is 700,000 (seven hundred thousand) monthly calculation indices.

For a reinsurance organization that carries out reinsurance as an exclusive type of activity, the minimum size of the guarantee fund is 3,500,000 (three million five hundred thousand) monthly calculation indices.

26-1. The minimum size of the guarantee fund for an insurance (reinsurance) organization that has a license in the “life insurance” industry and developed types of insurance that provide for insurance payment in the event of the policyholder’s participation in investments, increases by:

200,000 (two hundred thousand) monthly calculation indices - with independent management of assets formed at the expense of part of the insurance premiums received from policyholders for investment purposes, and income (losses) received from their investment, under insurance contracts providing for the condition of the policyholder's participation in investments;

100,000 (one hundred thousand) monthly calculation indices – when transferring assets formed from part of the insurance premiums received from policyholders for investment purposes, and income (losses) received from their investment, under insurance contracts that provide for the condition of the policyholder’s participation in investments, into investment management by an investment portfolio manager who is not an insurance organization.

27. For the purposes of calculating the minimum size of the guarantee fund, the size of the monthly calculation indicator established by the law on the republican budget for the corresponding financial year at the end of the reporting period is used.

Paragraph 5. Calculation of the actual solvency margin of an insurance (reinsurance) company

28. The actual solvency margin is the smaller of the two values calculated in accordance with paragraphs 29 and 33 of the Standards.

29. The actual solvency margin, calculated taking into account capital items, is determined by the following formula:

FMP = UK + ND – NMA – Upl – Uop – I – SZ, where:

FMP – actual solvency margin, calculated taking into account capital items;

MC – paid-up authorized capital minus preferred shares;

ND – undistributed income of previous years and the current year (including funds, reserve for unforeseen risks, stabilization reserve, reserves formed from the net income of previous years and the current year), minus dividends to be paid;

Intangible assets – intangible assets, with the exception of software acquired for the purposes of the main activities of an insurance (reinsurance) company;

Upl – uncovered loss of previous years;

UOP – uncovered loss of the reporting period;

I – investments in the authorized capital of other legal entities;

SZ is a subordinated loan provided to persons who, in accordance with Article 32 of the Law, are subsidiaries of an insurance (reinsurance) organization, or to persons in which the insurance (reinsurance) organization has a significant participation.

30. The actual solvency margin may be increased by the amount of preferred shares and subordinated debt in an amount not exceeding 50 (fifty) percent of the actual solvency margin or the minimum solvency margin (whichever is less). Preferred shares and subordinated debt with a fixed maturity in the amount cannot exceed fifty (50) percent of the total amount of preferred shares and subordinated debt.

31. Subordinated debt meets the following conditions:

only the fully paid amount of money actually received by the insurance (reinsurance) organization is taken into account;

2) the repayment period of subordinated debt with a fixed maturity is at least 5 (five) years. At least 1 (one) year before the date of repayment of the subordinated debt, the insurance (reinsurance) organization submits to the authorized body a plan for ensuring the actual solvency margin at the time of repayment. This requirement does not apply to cases where subordinated debt is included in the calculation of the actual solvency margin in the following order:

for a period of more than 5 (five) years before the start of debt repayment - in the full amount of the debt;

within 5 (five) years remaining before the start of debt repayment:

1st year - 100 (one hundred) percent of the amount of subordinated debt;

2nd year - 80 (eighty) percent of the amount of subordinated debt;

3rd year - 60 (sixty) percent of the amount of subordinated debt;

4th year - 40 (forty) percent of the amount of subordinated debt;

5th year - 20 (twenty) percent of the amount of subordinated debt;

3) in the case of repayment of a subordinated debt that does not have a fixed repayment period, the insurance (reinsurance) organization at least 5 (five) years before the expected repayment period submits to the authorized body a plan for ensuring the actual solvency margin. This requirement does not apply to cases where the subordinated debt is not included by the insurance (reinsurance) company in the calculation of the actual solvency margin, as well as in the event of its early repayment. In this case, the insurance (reinsurance) organization receives a conclusion from the authorized body on early repayment of the subordinated debt 6 (six) months before the expected repayment date, having previously submitted a plan to ensure the actual solvency margin before and after such repayment;

4) the subordinated debt is subject to repayment on the dates agreed with the authorized body, with the exception of the liquidation of the insurance (reinsurance) company;

5) changes in the terms of the subordinated debt are carried out only with the consent of the authorized body.

32. Bonds are recognized as a subordinated debt of an insurance (reinsurance) organization and are included in the calculation of the actual solvency margin only in accordance with the Law and the conditions for issuing securities determined by the Law of the Republic of Kazakhstan “On the Securities Market”, as well as in accordance with the acts of the Astana International Financial Center.

In addition to the conditions specified in paragraphs 30 and 31 of the Regulations, bonds that are subordinated debt of an insurance (reinsurance) company also meet the following conditions:

are not subject to redemption at the initiative of the bond owner or without the prior consent of the authorized body;

the terms of the issue of securities provide for adjustment of the principal debt and unpaid compensation in the event of losses and at the same time provides the insurance (reinsurance) company with the opportunity to continue its activities.

33. The actual solvency margin, calculated taking into account the classification of assets by quality and liquidity, is determined by the following formula:

FMP = ACL - SR - O, where:

ACL - assets, taking into account their classification by quality and liquidity in accordance with paragraph 34 of the Regulations;

SR - the amount of insurance reserves of an insurance (reinsurance) organization minus the share of the reinsurer at the end of the last reporting month. The amount of insurance reserves is used until the day of submission of monthly reports in accordance with paragraph 2 of the Regulations and other reporting to the authorized body (until the fifth day of the month following the reporting month, the amount of insurance reserves for the last reporting month is used);

О - liabilities, with the exception of insurance reserves.

34. The calculation of the value of assets of an insurance (reinsurance) company, taking into account their classification by quality and liquidity, includes:

money:

money on hand in an amount not exceeding 1 (one) percent of the total assets of the insurance (reinsurance) company minus reinsurance assets - in the amount of 100 (one hundred) percent of the book value;

money in transit in second-tier banks of the Republic of Kazakhstan that meet the requirements of subparagraph 5) of paragraph 38 of the Standards - in the amount of 100 (one hundred) percent of the book value;

money in current accounts in second-tier banks of the Republic of Kazakhstan that meet the requirements of subparagraph 5) of paragraph 38 of the Standards - in the amounts specified in the Calculation of the assets of the insurance (reinsurance) company, taking into account their classification by quality and liquidity in accordance with the Table of assets of the insurance (reinsurance) company, taking into account their classification by quality and liquidity in accordance with Appendix 4 to the Standards;

money of an insurance (reinsurance) organization in the accounts of an organization carrying out brokerage and (or) dealer activities in the securities market or registered on the territory of the Astana International Financial Center, located in second-tier banks of the Republic of Kazakhstan, and in the central depository - in the amount of 100 (one hundred) percent of the book value;

money of an insurance (reinsurance) organization in the accounts of an organization engaged in managing an investment portfolio on the securities market, or registered on the territory of the Astana International Financial Center, located in second-tier banks of the Republic of Kazakhstan - in the amount of 100 (one hundred) percent of the book value;

2) deposits placed in second-tier banks of the Republic of Kazakhstan that meet the requirements of subparagraph 5) of paragraph 38 of the Standards - in the amounts specified in the Table of assets of the insurance (reinsurance) organization, taking into account their classification by quality and liquidity in accordance with Appendix 4 to the Standards;

3) deposits placed in international financial organizations that meet the requirements of subparagraph 6) of paragraph 38 of the Standards - in the amounts specified in the Table of assets of the insurance (reinsurance) organization, taking into account their classification by quality and liquidity in accordance with Appendix 4 to the Standards;

4) deposits placed in non-resident banks that meet the requirements of subparagraph 7) of paragraph 38 of the Standards - in the amounts specified in the Table of assets of the insurance (reinsurance) organization, taking into account their classification by quality and liquidity in accordance with Appendix 4 to the Standards;

5) financial instruments specified in subparagraphs 8), 9), 10), 11), 12), 13), 14), 15), 16), 17), 18), 19), 20), 21), 22), 23), 24), 25), 26), 27), 28) and 30) of paragraph 38 of the Regulations - in the amounts specified in the Table assets of an insurance (reinsurance) company, taking into account their classification by quality and liquidity in accordance with Appendix 4 to the Standards;

6) loans to policyholders of an insurance (reinsurance) organization operating in the life insurance industry - in the amount of 100 (one hundred) percent of the principal amount;

7) fixed assets in the form of real estate in an amount not exceeding 5 (five) percent of the amount of highly liquid assets of an insurance (reinsurance) organization - in the amount of 100 (one hundred) percent of the least amount of book and market values.

In order to determine the market value of fixed assets taken into account when calculating prudential standards, the insurance (reinsurance) organization assesses their value with an appraiser at least once a year until April 30 (thirtieth) (inclusive) of the year following the reporting year;

8) amounts receivable from reinsurers, insurance premiums receivable from policyholders (reinsurers) and intermediaries in an amount not exceeding 10 (ten) percent of the amount of highly liquid assets of the insurance (reinsurance) organization, with the exception of insurance premiums receivable from legal entities specified in subparagraph 10) of this paragraph;

9) requirements for issuers of securities to pay the par value of securities that arose in connection with the expiration of their circulation period provided for by the prospectus for the issue of securities (not overdue under the terms of the prospectus for the issue of securities) - in the amount of 100 (one hundred) percent of the book value;

10) insurance premiums receivable in an amount not exceeding 15 (fifteen) percent of the amount of highly liquid assets of the insurance (reinsurance) organization, when the policyholder is:

a legal entity, more than 50 (fifty) percent of voting shares (stakes in the authorized capital) of which directly or indirectly belong to the national management holding company;

a legal entity with a rating of at least “BB+” by the Standard & Poor’s rating agency (Standard & Poor’s) or other rating agencies;

a large systemically important enterprise that meets the following criteria:

revenue from sales of products (provision of services) is at least 50 (fifty) billion tenge annually for the last 2 (two) years;

tax deductions amount to at least 3 (three) billion tenge annually for the last 2 (two) years.

Insurance premiums receivable from policyholders are included in the calculation of the value of the assets of an insurance (reinsurance) company, taking into account their classification by quality and liquidity, if the policyholder pays at least one-twelfth of the insurance premium under the insurance contract, taking into account the additional agreement(s) to the insurance contract, or the first insurance premium under the accumulative insurance contract no later than the fifth working day following the reporting month.

Insurance premiums receivable from reinsurers are included in the calculation of the value of the assets of an insurance (reinsurance) company, taking into account their classification by quality and liquidity if the reinsurer pays at least one twelfth of the insurance premium under the reinsurance agreement no later than the fifth business day following the reporting month.

The calculation of the value of the assets of an insurance (reinsurance) organization, taking into account their classification by quality and liquidity, does not include (with the exception of receivables arising in connection with the placement of money in the accounts of an organization engaged in brokerage and (or) dealer activities in the securities market, or registered on the territory of the Astana International Financial Center, when making transactions with financial instruments (money specified in paragraph six of subparagraph 1) of part one of this paragraph):

receivables overdue under the terms of the contract for a period of more than 3 (three) working days;

receivables overdue under the terms of the contract for a period of more than 30 (thirty) calendar days for insurance (reinsurance) organizations, the share of insurance premiums for the class “health insurance” of which is more than 80 (eighty) percent in the total volume of insurance premiums under existing insurance (reinsurance) contracts as of the reporting date;

receivables formed under insurance (reinsurance) contracts, the validity period of insurance (reinsurance) protection for which has not occurred;

receivables of major participants, subsidiaries, organizations in which the insurance (reinsurance) organization is a major participant or has a significant participation, as well as other affiliated organizations.

If the insurance (reinsurance) contract provides for payment of the insurance premium in installments in the form of periodic insurance premiums, then if the policyholder (reinsurer) fails to pay the next insurance premium on the reporting date, when calculating the value of the assets of the insurance (reinsurance) company, taking into account their classification by quality and liquidity, the balance of the amount of receivables (subsequent periodic insurance premiums) is considered overdue.

Chapter 4. Adequacy standard for highly liquid assets

The insurance (reinsurance) organization complies with the adequacy standard for highly liquid assets, calculated as the ratio of the value of highly liquid assets to the amount of insurance reserves minus the share of the reinsurer, according to the formula:

VA Nwa = -------------> 1, where: SR

Nva - standard of sufficiency of highly liquid assets;

VA - the value of highly liquid assets specified in paragraph 38 of the Standards (less obligations under repo transactions);

SR - the amount of insurance reserves of an insurance (reinsurance) organization, minus the share of the reinsurer at the end of the last reporting month. The amount of insurance reserves is used until the day of submission of monthly reports in accordance with paragraph 2 of the Regulations and other reporting to the authorized body (until the fifth day of the month following the reporting month, the amount of insurance reserves for the last reporting month is used).

The adequacy ratio of highly liquid assets must be at least 1 (units).

38. The following assets of an insurance (reinsurance) company are recognized as highly liquid assets:

money on hand in an amount not exceeding 1 (one) percent of the amount of assets of the insurance (reinsurance) company minus reinsurance assets;

2) money of the insurance (reinsurance) organization in the accounts of an organization carrying out brokerage and (or) dealer activities in the securities market, or registered on the territory of the Astana International Financial Center, located in second-tier banks of the Republic of Kazakhstan, and in the central depository;

3) money in current accounts in second-tier banks of the Republic of Kazakhstan that meet the requirements of subparagraph 5) of this paragraph of the Regulations;

4) money of an insurance (reinsurance) organization in the accounts of an organization engaged in managing an investment portfolio on the securities market, or registered on the territory of the Astana International Financial Center, located in second-tier banks of the Republic of Kazakhstan;

5) deposits placed in second-tier banks of the Republic of Kazakhstan that meet one of the following requirements:

are issuers whose shares are included in the “premium” category of the “stocks” sector of the “Main” platform of the official list of the stock exchange or are on the representative list of the stock exchange index;

have a long-term credit rating of at least "B-" on the international scale of Standard & Poor's (Standard & Poor's) or a rating of a similar level by one of the other rating agencies, or a rating of at least "kzBB-" on the national scale of Standard & Poor's (Standard & Poor's), or a rating of a similar level on the national scale of one of the other rating agencies;

are subsidiary resident banks of the Republic of Kazakhstan, whose parent non-resident banks of the Republic of Kazakhstan have a long-term credit rating in foreign currency not lower than "A-" on the international scale of Standard & Poor's (Standard & Poor's) or a rating of a similar level by one of the other rating agencies;

6) deposits placed with international financial organizations that have a long-term rating of at least “AA-” by Standard & Poor’s (Standard & Poor’s) or a rating of a similar level by one of the other rating agencies, deposits placed with the Eurasian Development Bank in the national currency of the Republic of Kazakhstan;

7) deposits placed in non-resident banks that have a long-term rating of at least “BBB-” on the international scale of Standard & Poor's (Standard & Poor's) or a rating of a similar level by one of the other rating agencies;

8) government securities of the Republic of Kazakhstan (including those issued in accordance with the legislation of other states), issued by the Ministry of Finance of the Republic of Kazakhstan and the National Bank of the Republic of Kazakhstan;

9) debt securities issued by local executive bodies of the Republic of Kazakhstan, included in the official list of the stock exchange operating in the territory of the Republic of Kazakhstan;

10) debt securities issued by a legal entity that purchases mortgage loans from individuals not related to business activities, one hundred percent of the shares of which belong to the National Bank of the Republic of Kazakhstan;

11) debt securities issued by the joint-stock companies Development Bank of Kazakhstan, National Welfare Fund Samruk-Kazyna, National Management Holding Baiterek, Problem Loan Fund and the Eurasian Development Bank in accordance with the legislation of the Republic of Kazakhstan and other states;

12) non-government debt securities of legal entities of the Republic of Kazakhstan, issued in accordance with the legislation of the Republic of Kazakhstan and other states, included in the official list of the stock exchange operating in the territory of the Republic of Kazakhstan;

13) non-government debt securities of legal entities of the Republic of Kazakhstan, admitted to public trading on the stock exchange operating on the territory of the Astana International Financial Center;

14) non-government debt securities of legal entities of the Republic of Kazakhstan, issued in accordance with the legislation of the Republic of Kazakhstan and other states, having (the issuer of which has) a rating of not lower than "B-" on the international scale of Standard & Poor's (Standard & Poor's) or a rating of a similar level by one of the other rating agencies, or a rating of not lower than "kzBB-" on the national scale of Standard & Poor's (Standard & Poor's), or a rating of a similar level on the national scale of one from other rating agencies;

15) non-government debt securities issued by international financial organizations that have an international rating of at least “AA-” by Standard & Poor’s (Standard & Poor’s) or a rating of a similar level by one of the other rating agencies, as well as debt securities issued by the Eurasian Development Bank;

16) debt securities of foreign countries that have a sovereign rating of at least “B-” on the international scale of Standard & Poor's (Standard & Poor's) or a rating of a similar level by one of the other rating agencies;

17) non-government debt securities of foreign issuers that have (the issuer of which has) a rating of at least “B-” on the international scale of Standard & Poor's (Standard & Poor's) or a rating of one of the other rating agencies;

18) shares of legal entities of the Republic of Kazakhstan and foreign issuers included in the main stock indices, and depositary receipts, the underlying asset of which is these shares;

19) shares of legal entities included in the official list of the stock exchange operating in the territory of the Republic of Kazakhstan, and depository receipts, the underlying asset of which is these shares;

20) shares of legal entities-residents of the Republic of Kazakhstan, admitted to public trading on the stock exchange operating on the territory of the Astana International Financial Center;

21) shares of legal entities of the Republic of Kazakhstan and foreign issuers with a rating of at least “B-” on the international scale of Standard & Poor's (Standard & Poor's) or a rating of a similar level by one of the other rating agencies, and depository receipts, the underlying asset of which is these shares;

22) shares of legal entities (residents and non-residents of the Republic of Kazakhstan):

carrying out the development, implementation, support of software used in the activities of financial organizations, including to automate their activities;

providing services to provide financial services using artificial intelligence, blockchain and other innovative technologies;

23) securities of investment funds included in the official list of the stock exchange operating on the territory of the Republic of Kazakhstan or operating on the territory of the Astana International Financial Center;

24) shares of Exchange Traded Funds (ETF) (Exchange Traded Funds), the asset structure of which repeats the structure of one of the main stock indices, or the pricing of shares of which is tied to the main stock indices;

25) shares of Exchange Traded Funds (ETF), Exchange Traded Commodities (ETC), Exchange Traded Notes (ETN), having a rating of at least “3 stars” by the Morningstar rating agency;

26) instruments of Islamic financing of legal entities of the Republic of Kazakhstan, issued in accordance with the legislation of the Republic of Kazakhstan and other states, having (the issuer of which has) a rating not lower than "B-" on the international scale of Standard & Poor's (Standard & Poor's) or a rating of a similar level of one of the other rating agencies, or a rating not lower than "kzBB-" on the national scale of Standard & Poor's (Standard & Poor's), or a rating of a similar level on the national scale of one of the other rating agencies agencies;

27) Islamic financing instruments for legal entities of the Republic of Kazakhstan, issued in accordance with the legislation of the Republic of Kazakhstan and other states, the parent organizations of which have a rating of at least “BBB-” on the international scale of Standard & Poor's (Standard & Poor's) or a rating of a similar level by one of the other rating agencies;

28) refined precious metals and metal bills;

29) requirements for issuers of securities for payment of the nominal value of securities that arose in connection with the expiration of their circulation period provided for by the prospectus for the issue of securities (not overdue under the terms of the prospectus for the issue of securities);

30) non-government debt securities issued by entities classified as small or medium-sized businesses in accordance with the Entrepreneurial Code of the Republic of Kazakhstan, included in the “debt securities” sector of the “Main” or “Alternative” platform of the official list of the stock exchange, and having a guarantee of the joint-stock company "Enterprise Development Fund "DAMU" and (or) joint-stock company "Development Bank of Kazakhstan", the amount of which covers at least 50 (fifty) percent of the nominal value of these non-government debt securities.

For the purposes of the Standards, the main stock indices mean the following calculated indicators (indices):

CAC 40 (Compagnie des Agents de Change 40 Index) (Company de Ejon de Change 40 Index);

DAX (Deutscher Aktienindex);

DJIA (Dow Jones Industrial Average);

EURO STOXX 50 (EURO STOXX 50 Price Index) (Europe STOXX 50 Price Index);

FTSE 100 (Financial Times Stock Exchange 100 Index);

HSI (Hang Seng Index);

KASE (Kazakhstan Stock Exchange Index) (Kazakhstan Stock Exchange Index);

MSCI World Index (Morgan Stanley Capital International World Index);

MOEX Russia (Moscow Exchange Russia Index) (Moscow Exchange Russia Index);

NIKKEI 225 (Nikkei-225 Stock Average Index);

S&P 500 (Standard and Poor's 500 Index);

TOPIX 100 (Tokyo Stock Price 100 Index) (Tokyo Stock Price 100 Index);

NASDAQ-100 (Nasdaq-100 Index) (Nasdaq-100 Index).

The financial instruments specified in this paragraph are included in the calculation of highly liquid assets in the amounts specified in the Table of highly liquid assets of an insurance (reinsurance) organization in accordance with Appendix 5 to the Standards.

For the purposes of the Regulations, international financial organizations mean the following organizations:

the Asian Development Bank;

the Inter-American Development Bank;

the African Development Bank;

Eurasian Development Bank;

the European Bank for Reconstruction and Development;

the European Investment Bank;

the Council of Europe Development Bank;

the Islamic Corporation for the Development of the Private Sector;

the Islamic Development Bank;

the Multilateral Investment Guarantee Agency;

the Nordic Investment Bank;

the International Monetary Fund;

the International Development Association;

the Bank for International Settlements;

the International Center for Settlement of Investment Disputes;

the International Bank for Reconstruction and Development;

the International Finance Corporation;

The Black Sea Trade and Development Bank;

Asian Infrastructure Investment Bank.

40. To calculate the amount of assets of an insurance (reinsurance) organization by quality and liquidity and highly liquid assets of an insurance (reinsurance) organization, the following are not taken into account:

assets that are collateral for the obligations of the insurance (reinsurance) company and (or) to which the ownership right of the insurance (reinsurance) company is limited (except for repo transactions).

Securities that are the subject of a “reverse repo” transaction (with the exception of securities that are the subject of a “reverse repo” transaction concluded with the participation of a central counterparty) are included in the calculation of the value of the assets of an insurance (reinsurance) organization, taking into account their classification by quality and liquidity in the volumes indicated in the Table of assets of the insurance (reinsurance) company, taking into account their classification by quality and liquidity in accordance with Appendix 4 to the Standards.

Securities that are the subject of a reverse repo transaction (with the exception of securities that are the subject of a reverse repo transaction concluded with the participation of a central counterparty) are included in the calculation of highly liquid assets of an insurance (reinsurance) organization in the amounts specified in the Table of highly liquid assets of an insurance (reinsurance) organization in accordance with Appendix 5 to the Standards;

Securities that are the subject of a reverse repo transaction concluded with the participation of a central counterparty are included in the calculation of the value of the assets of an insurance (reinsurance) organization, taking into account their classification by quality and liquidity and highly liquid assets of the insurance (reinsurance) organization in full.

2) deposits and current accounts in second-tier banks, which, in accordance with the Law, are major participants in an insurance (reinsurance) organization or insurance holding companies, or in which an insurance (reinsurance) organization is a major participant or a bank holding company, except for cases where such second-tier banks have a long-term credit rating of at least “BB” on the international scale of Standard & Poor's (Standard & Poor's) or a rating of a similar level from one of the other rating agencies agencies, or a rating not lower than "kzA+" on the national scale of Standard & Poor's (Standard & Poor's), or a rating of a similar level on the national scale of one of the other rating agencies;

3) securities issued by legal entities that are persons related to the insurance (reinsurance) company by special relations.

41-1. Failure to comply with the adequacy standard for highly liquid assets by an insurance (reinsurance) organization during the period from February 28 to September 1, 2022 is not considered a violation if such failure is a consequence of:

revaluation of the value of assets and liabilities of the insurance (reinsurance) organization by more than 10% within 30 (thirty) calendar days due to changes in the exchange rate of the tenge to foreign currencies;

2) revaluation of the value of securities of an insurance (reinsurance) company by more than 10% within 30 (thirty) calendar days due to a change in the base rate and (or) discount rate;

3) reduction of the issuer rating of securities acquired by an insurance (reinsurance) organization before February 21, 2022, to the level of “B-” and below the rating agency Standard & Poor's (Standard & Poor's) or other rating agencies;

4) downgrading the rating of a second-tier bank, investments in which are taken into account in calculating the adequacy standard for highly liquid assets,

to the level of "B-" and below the rating agency Standard & Poor's (Standard & Poor's) or other rating agencies.

41-2. The insurance (reinsurance) organization, within 5 (five) working days from the date of detection of the fact of non-compliance with the adequacy standard of highly liquid assets in accordance with paragraph 41-1 of the Standards, sends for approval to the authorized body an action plan to increase the standards to a level not less than the established minimum value within a period of up to 6 (six) months from the date of detection of the specified violation.

Failure to meet the adequacy standard for highly liquid assets within the time limits established by the action plan is a violation.

41-3. To calculate the indicators of prudential standards and other mandatory norms and limits of the insurance (reinsurance) organization on the reporting date, additional information is generated in accordance with Appendix 6 to the Standards, which are submitted to the National Bank of the Republic of Kazakhstan in electronic format on a monthly basis no later than the 6th (sixth) working day of the month following the reporting month.

The completeness and accuracy of the data in the additional information is ensured by the head of the organization or the person entrusted with the function of signing the additional information.

Chapter 5. Asset diversification standards

42. The insurance (reinsurance) organization complies with the following asset diversification standards:

the total book value of investments in securities (including reverse repo transactions), deposits and money of which are in one second-tier bank that has a long-term credit rating of at least “BB-” on the international scale of Standard & Poor's (Standard & Poor's) or a rating of a similar level of one of the other rating agencies, or which is a subsidiary resident bank of the Republic of Kazakhstan, the parent non-resident bank of the Republic of Kazakhstan of which has a long-term credit rating in foreign currency not lower than "A-" by Standard & Poor's (Standard & Poor's) or a rating of a similar level by one of the other rating agencies, and affiliates of this bank, the Development Bank of Kazakhstan and its affiliates, is:

from January 1, 2023 - no more than 30 (thirty) percent of the amount of general insurance reserves;

from January 1, 2024 - no more than 20 (twenty) percent of the total insurance reserves;

2) the total book value of investments in securities (including reverse repo transactions), deposits and money in one second-tier bank that has a long-term credit rating from “B” to “B+” on the international scale of Standard & Poor's (Standard & Poor's) or a rating of a similar level by one of the other rating agencies, and affiliates of this bank is:

from January 1, 2023 - no more than 20 (twenty) percent of the total insurance reserves;

from January 1, 2024 - no more than 15 (fifteen) percent of the total insurance reserves;

3) the total book value of investments in securities (including reverse repo transactions), deposits and money in one second-tier bank that has a long-term credit rating of “B-” on the international scale of Standard & Poor's (Standard & Poor's) or a rating of a similar level by one of the other rating agencies, and affiliates of this bank is:

from January 1, 2023 - no more than 20 (twenty) percent of the total insurance reserves;

from January 1, 2024 - no more than 10 (ten) percent of the total insurance reserves;

4) the total book value of investments in securities (including reverse repo transactions) and money in one legal entity that is not a second-tier bank, with the exception of the Development Bank of Kazakhstan, and affiliates of this legal entity is:

from January 1, 2023 - no more than 20 (twenty) percent of the total insurance reserves;

from January 1, 2024 - no more than 10 (ten) percent of the total insurance reserves;

5) the total book value of investments in securities (including reverse repo transactions) and money in one legal entity included in the list of national companies approved by Decree of the Government of the Republic of Kazakhstan dated April 6, 2011 No. 376 “On approval of the list of national management holdings, national holdings, national companies” and having a long-term credit rating of at least “BBB-” on the international scale of the Standard rating agency & Poor's (Standard & Poor's) or a rating of a similar level by one of the other rating agencies, and affiliates of this legal entity, is no more than twenty (20) percent of the total insurance reserves;

6) the total placement in refined precious metals and metal accounts is no more than 10 (ten) percent of the total insurance reserves;

7) the total amount of loans to policyholders of an insurance (reinsurance) organization operating in the “life insurance” industry is no more than 10 (ten) percent of the total insurance reserves;

8) the total book value of investments in securities (including reverse repo transactions) having the status of government issued by the central government of a foreign state with a rating of at least “A-” on the international scale of the Standard & Poor's rating agency (Standard & Poor's) or a rating of a similar level by one of the other rating agencies - no more than 10 (ten) percent of the amount of total insurance reserves;

9) the total book value of investments in securities (including reverse repo transactions) having the status of government issued by the central government of a foreign state with a rating below "A-" on the international scale of the Standard & Poor's rating agency (Standard & Poor's) or a rating of a similar level by one of the other rating agencies - no more than 5 (five) percent of the amount of total insurance reserves;

10) the total book value of investments in securities (including reverse repo transactions) of an international financial organization, which is included in the list established by paragraph 39 of the Regulations, is no more than 20 (twenty) percent of the amount of total insurance reserves;

11) the total book value of investments in shares that meet the requirements of subparagraphs 24) and 25) of paragraph 38 of the Standards, less the reserve for impairment, is no more than 10 (ten) percent of the amount of total insurance reserves;

12) the total book value of investments in shares of open-ended and interval mutual investment funds, minus the reserve for impairment, is no more than 10 (ten) percent of the amount of total insurance reserves;

13) the total book value of investments in debt securities issued by local executive bodies of the Republic of Kazakhstan, taking into account the amounts of the principal debt and accrued interest, less the reserve for impairment, is no more than 10 (ten) percent of the total insurance reserves;

14) the total book value of investments in Islamic finance instruments that meet the requirements of subparagraphs 26) and 27) of paragraph 38 of the Regulations, minus the reserve for impairment, is no more than 10 (ten) percent of the amount of total insurance reserves;

Investments of an insurance (reinsurance) organization in debt securities do not exceed 25 (twenty-five) percent of the total volume of bonds of one issue of a second-tier bank of the Republic of Kazakhstan.

When calculating the asset diversification standards specified in subparagraphs 1), 2) and 3) of this paragraph, the total allocation to assets of a second-tier bank and its affiliates is reflected in one of the standards depending on the highest permissible limit for the allocation of assets in a given group of affiliates.

43. The diversification standards specified in paragraph 42 of the Standards do not apply to:

securities of the National Bank of the Republic of Kazakhstan, a legal entity that purchases mortgage loans from individuals not related to business activities, one hundred percent of the shares of which belong to the National Bank of the Republic of Kazakhstan, the Ministry of Finance of the Republic of Kazakhstan and national management holdings;

securities that are the subject of a reverse repurchase transaction concluded with the participation of a central counterparty;

deposits and money of a national company that carries out export support functions and has a state guarantee from the Government of the Republic of Kazakhstan, in one second-tier bank that has a long-term credit rating of at least “B” on the international scale of Standard & Poor's (Standard & Poor's) or a rating of a similar level from one of the other rating agencies, which are sent for syndicated financing together with the joint-stock company "Development Bank of Kazakhstan".

For the purposes of calculating asset diversification standards, persons who are affiliated only through a national management holding company are not recognized as affiliated persons of an organization.

44. If the value of the assets of the insurance (reinsurance) company minus reinsurance assets on the reporting date changes by 20 (twenty) percent or more of the value of the assets of the insurance (reinsurance) company minus reinsurance assets on the previous reporting date, due to a change in the exchange rate of the national currency, the insurance (reinsurance) company brings the standards for asset diversification in accordance with the requirements of paragraph 42 of the Standards within 3 (three) months from the date of exceeding these asset diversification standards.

If the rating of a second-tier bank is reduced below the level provided for in subparagraphs 1), 2) and 3) of paragraph 42 of the Standards for the corresponding diversification standard, the insurance (reinsurance) organization brings the asset diversification standards into compliance with the requirements of subparagraphs 1), 2) and 3) of paragraph 42 of the Standards within 1 (one) month from the date of exceeding these asset diversification standards.

If affiliation arises between second-tier banks and (or) legal entities that are not second-tier banks, the insurance (reinsurance) organization brings the asset diversification standards into compliance with the requirements of subparagraphs 1), 2), 3) and 4) of paragraph 42 of the Standards within 1 (one) month from the date of exceeding these asset diversification standards.

Upon receipt of compensation from the reinsurer to the current account of the second-tier bank, exceeding 10 (ten) percent of the amount of assets calculated in accordance with paragraph 34 of the Standards, the insurance (reinsurance) organization brings the asset diversification standards into compliance with the requirements of subparagraphs 1), 2) and 3) of paragraph 42 of the Standards within 3 (three) business days from the date of exceeding these asset diversification standards.

Exceeding the asset diversification standards during the period established by parts one, two, three and four of this paragraph is not considered a violation of the asset diversification standards.

44-1. Failure to comply with asset diversification standards by an insurance (reinsurance) organization during the period from February 28 to September 1, 2022 is not considered a violation if such failure is a consequence of:

revaluation of the value of assets and liabilities of the insurance (reinsurance) organization by more than 10% within 30 (thirty) calendar days, due to changes in the exchange rate of the tenge to foreign currencies;

2) revaluation of the value of securities of an insurance (reinsurance) company by more than 10% within 30 (thirty) calendar days due to a change in the base rate and (or) discount rate;

4) reduction of the rating of a second-tier bank, whose investments are taken into account for the diversification of assets to the level of "B-" and below the rating agency Standard & Poor's (Standard & Poor's) or other rating agencies.

The insurance (reinsurance) organization, within 5 (five) working days from the date of detection of a violation of the asset diversification standard, sends for approval to the authorized body an action plan to bring diversification standards into compliance with the requirements of paragraph 42 of the Standards within 6 (six) months from the date of exceeding these asset diversification standards.

Failure to comply with asset diversification standards by an insurance (reinsurance) organization within the time limits established by the action plan is a violation.

Chapter 6. Other mandatory norms and limits for insurance (reinsurance) organizations

Paragraph 1. Other mandatory standards for insurance (reinsurance) organizations

45. Insurance (reinsurance) organizations comply with the following other mandatory standards:

insurance (reinsurance) organizations transfer insurance risks to reinsurance to insurance (reinsurance) resident organizations of the Republic of Kazakhstan only if the latter comply with the solvency margin adequacy standard;

2) REPO transactions are carried out automatically and are concluded for a period of no more than 30 (thirty) calendar days (in the trading system of the stock exchange).

3) from April 1, 2025, the total book value of REPO transactions does not exceed 50 (fifty) percent of the total insurance reserves, and from July 1, 2025, does not exceed 35 (thirty-five) percent of the total insurance reserves.

45-1. Insurance of risks associated with values created and taken into account in a decentralized information system using cryptography and (or) computer calculations, which are not financial instruments or financial assets in accordance with the civil legislation of the Republic of Kazakhstan, and do not contain a right of claim against anyone, is not carried out.

Paragraph 2. The amount of the insurance (reinsurance) company’s own deductible under the insurance, reinsurance, co-insurance (joint reinsurance) agreement(s)

Footnote: Footnote. The title of paragraph 2 as amended by the resolution of the Board of the National Bank of the Republic of Kazakhstan dated January 31, 2019 No. 12 (shall be enforced upon the expiration of ten calendar days after the day of its first official publication).

46. The amount of the insurance (reinsurance) company’s own deductible under the insurance, reinsurance, co-insurance (joint reinsurance) contract(s) is calculated by the actuary in accordance with the reinsurance policy approved by the board of directors of the insurance (reinsurance) company.

The maximum amount of own deduction of an insurance (reinsurance) company under a separate insurance contract on the date of conclusion and amendments to the insurance (reinsurance) contract (in terms of the volume of obligations) does not exceed for insurance contracts (incoming reinsurance):

100 (one hundred) percent in relation to the size of the actual solvency margin of an insurance (reinsurance) organization with a rating not lower than "BBB" by the rating agency Standard & Poor's (Standard & Poor's) or other rating agencies, but not more than 16.5 million MCI (16,500,000 MCI), with a value of the solvency margin adequacy ratio not lower than the level exceeding the minimum value the solvency margin adequacy standard established by the Standards by 0.2 points;

100 (one hundred) percent in relation to the size of the actual solvency margin of the insurance (reinsurance) organization, but not more than 8.2 million MCI (8,200,000 MCI), with the value of the solvency margin sufficiency standard not lower than the level exceeding the minimum value of the solvency margin sufficiency standard established by the Standards by 0.2 points;

80 (eighty) percent in relation to the size of the actual solvency margin of the insurance (reinsurance) organization, but not more than 8.2 million MCI (8,200,000 MCI), if the value of the solvency margin sufficiency standard is lower than the level exceeding the minimum value of the solvency margin sufficiency standard established by the Standards by 0.2 points.

In case of group insurance, as well as under contracts of compulsory insurance of an employee against accidents during the performance of his labor (official) duties, compulsory insurance of tourists, the calculation specified in part two of this paragraph is carried out for each insured person separately.

In case of coinsurance (joint reinsurance), the calculation specified in part two of this paragraph is carried out based on the share of the insured amount of each insurer (reinsurer).

Chapter 7. Additional prudential standards

Paragraph 1. Reserve for unforeseen risks

47. Unforeseen risk reserve (hereinafter - UR) - a reserve for possible future risks to cover insurance payments and expenses for the settlement of insurance losses, formed when the unearned premium reserve (hereinafter - UR) is insufficient, calculated in accordance with the Requirements for the formation, methodology for calculating insurance reserves and their structure.

48. The calculation of the RNI is carried out separately for each class of insurance, with the exception of the class of life insurance and accumulative types of insurance. The total value of the RNR is determined by summing the RNR calculated for all classes of insurance, with the exception of the life insurance class and accumulative types of insurance.

49. RNR is calculated monthly if the following conditions are simultaneously met:

the ratio of the amount of net insurance payments, expenses for settling insurance losses and changes in the loss reserve (excluding the share of the reinsurer) to the difference between net insurance premiums and changes in the RNP (excluding the share of the reinsurer) exceeds 105 (one hundred five) percent for the insurance class;

the volume of net insurance premiums under existing insurance contracts by insurance class is at least 5 (five) percent of the total volume of net insurance premiums under existing insurance contracts as of the reporting date.

In this case, the total volume of net insurance premiums is taken into account for all classes of insurance, with the exception of life insurance classes and accumulative types of insurance.

RNR is calculated as follows:

RNR - reserve of unforeseen risks;

B - net insurance payments;

R - expenses for settling insurance losses;

RU - change in loss reserves (without taking into account the reinsurer's share);

PE – accrued insurance premiums, minus insurance premiums transferred to reinsurance and taking into account expenses associated with the termination of insurance contracts;

RNP - change in RNP without taking into account the share of the reinsurer;

RNP - RNP without taking into account the reinsurer's share as of the calculation date.

Parameters V, R, RU, PE, RNP are calculated for the last 12 (twelve) months preceding the reporting date.

Paragraph 2. Stabilization reserve

50. The stabilization reserve is an assessment of the obligations of the insurance (reinsurance) company associated with the implementation of future insurance payments.

The stabilization reserve is calculated separately for each class of insurance based on the results of the completed financial year.

51. The stabilization reserve is calculated by insurance class if the standard deviation of the loss ratio for the reporting period without taking into account the share of the reinsurer (Sk) exceeds 10 (ten) percent of the average value of the loss ratio for the reporting period without taking into account the share of the reinsurer (

Sk - standard deviation of the loss ratio for the reporting period without taking into account the reinsurer's share;

(

M - number of financial years;

K(i) - loss ratio for the reporting period without taking into account the share of the reinsurer for the i-th financial year.

Advertisement Republic of Kazakhstan", registered in the Register of State Registration of Normative Legal Acts under No. 13056.

If the average value of the loss ratio for the reporting period without taking into account the share of the reinsurer for M financial years is less than 70 (seventy) percent, the stabilization reserve is not calculated.

The average value of the loss ratio for the reporting period without taking into account the share of the reinsurer and the standard deviation of the loss ratio for the reporting period without taking into account the share of the reinsurer by insurance class are determined based on data for the previous 5 (five) financial years.

The stabilization reserve for the insurance class is determined in the amount of the stabilization reserve at the beginning of the reporting period minus the amount of net earned insurance premiums for the reporting period, multiplied by the loss ratio for the reporting period, without taking into account the share of the reinsurer as of the reporting date, reduced by the average value of the loss ratio for the reporting period without taking into account the share of the reinsurer (

Stabilization reserve at the reporting date = SR1 - NWP x (K -

SR1 - stabilization reserve as of the previous reporting date;

NWP – the amount of net earned insurance premiums for the reporting period.

The amount of net earned insurance premiums is the amount of insurance premiums excluding the reinsurer's share for the reporting period, increased by the amount of the unearned premium reserve excluding the reinsurer's share at the beginning of the reporting period and reduced by the amount of the unearned premium reserve excluding the reinsurer's share at the end of the reporting period;

K - loss ratio for the reporting period without taking into account the share of the reinsurer as of the reporting date;

To calculate the stabilization reserve, the reporting period is equal to one financial year.

54. The stabilization reserve for the insurance class does not exceed 10 (ten) percent of the amount of insurance reserves without taking into account the share of the reinsurer for the insurance class as of the reporting date:

Stabilization reserve at the reporting date <10% x HR, where:

NIR - the amount of insurance reserves excluding the share of the reinsurer by class of insurance as of the reporting date.

55. If an insurance (reinsurance) organization does not enter into insurance contracts within 2 (two) years for an insurance class, then the amount of the stabilization reserve for this insurance class is taken equal to 0 (zero).

56. The stabilization reserve for the classes “accident insurance”, “health insurance”, “compulsory tourist insurance”, “life insurance”, “annuity insurance” is equal to 0 (zero).

57. The total amount of the stabilization reserve is determined by summing the values of the stabilization reserve for all classes of insurance.

58. The stabilization reserve formed at the beginning of the current financial year does not change until the end of the current financial year.

Chapter 8. Standard for the adequacy of the solvency margin of an insurance group

59. For the purposes of calculating the sufficiency standard for the solvency margin of an insurance group, members of the insurance group are understood to be legal entities belonging to the insurance group in accordance with subparagraph 23-2) of Article 3 of the Law.

60. For the purpose of calculating the adequacy ratio of the solvency margin of an insurance group, unconsolidated financial statements of the insurance group members are used, compiled in accordance with the financial and (or) regulatory reporting standards used by the authorized body of the country where the insurance group member is located for the purposes of prudential regulation.

61. The adequacy ratio of the solvency margin of an insurance group is calculated using the formula:

NMP - the standard for the sufficiency of the solvency margin of the insurance group;

FMP - actual solvency margin of the insurance group;

MMP is the minimum solvency margin of an insurance group.

The solvency margin adequacy standard for an insurance group must be at least 1 (units).

62. The actual solvency margin of an insurance group is the sum of the actual solvency margin (equity capital) of the parent organization of the insurance group and the actual solvency margin (equity capital) of other members of the insurance group.

For the purposes of calculating the actual solvency margin of an insurance group, investments that are investments in the authorized capital of legal entities, subordinated debt of legal entities, as well as other investments in the equity capital of legal entities are excluded from the actual solvency margin (equity capital) of a member of the insurance group.

63. The minimum solvency margin of an insurance group is the sum of the minimum solvency margin (equity capital) of the parent organization of the insurance group and the minimum solvency margin (equity capital) of other members of the insurance group.

64. The calculation of the actual solvency margin and the minimum solvency margin (equity capital) of a participant in an insurance group that is a financial organization, but is not an insurance (reinsurance) organization, is determined in accordance with the calculation of the prudential standards of this participant in the insurance group.

If for a member of an insurance group that is a financial organization, the regulatory legal acts of the authorized body do not establish the calculation of assets and (or) contingent and possible liabilities, weighted by the degree of credit risk of investments, then the minimum size of the solvency margin (equity capital) is equal to the value of the minimum size of the solvency margin (equity capital) necessary to meet the standard (coefficient) of adequacy of the solvency margin (equity capital) established by regulatory legal acts acts of the authorized body.

The minimum size of the solvency margin (equity capital) of members of an insurance group that are not a financial organization is equal to the amount of assets and (or) contingent and possible liabilities of a member of the insurance group, weighted by the degree of credit risk of investments, multiplied by the equity adequacy ratio established in accordance with the calculation of prudential standards of this member of the insurance group.

If, in relation to a participant of an insurance group, the calculation of the standard (coefficient) for the adequacy of the solvency margin (equity capital) is not established by the regulatory legal acts of the authorized body, then for this participant:

the actual solvency margin (equity capital) is determined on the basis of reporting submitted in accordance with paragraph 2 of the Regulations, as the difference between assets and liabilities;

The minimum solvency margin (equity capital) is calculated using the formula:

SK = A x 0.14, where:

SC – the minimum size of the solvency margin (equity capital) of a member of the insurance group;

A - the amount of assets, contingent and possible liabilities of a member of the insurance group, weighted by the degree of credit risk of investments in accordance with the Standard values and methods for calculating prudential standards and other mandatory norms and limits, the amount of bank capital, approved by Resolution of the Board of the National Bank of the Republic of Kazakhstan dated September 13, 2017 No. 170, registered in the Register of State Registration of Normative Legal Acts under No. 15886.

For the purpose of weighing assets, contingent and possible liabilities by the degree of credit risk of investments, assets, contingent and possible liabilities are reduced by the amount of reserves (provisions) calculated for them.

The calculation of the amount of assets, contingent and possible liabilities of members of the insurance group, weighted by the degree of credit risk of the investment, does not include the claims of the members of the insurance group against each other.

65. The size of the actual solvency margin and the minimum size of the solvency margin (equity capital) of a member of an insurance group who is a non-resident of the Republic of Kazakhstan are determined by the regulatory legal acts of the authorized body of the relevant state regulating its activities in the country of its location.

If in relation to a member of an insurance group who is a non-resident of the Republic of Kazakhstan, the procedure for calculating the size of the actual solvency margin and the minimum size of the solvency margin (equity capital) in the country of its location is not established, then the size of the actual solvency margin and the minimum size of the solvency margin (equity capital) are determined in accordance with part four of paragraph 64 of the Regulations.

Appendix 1 to Standard values and methods for calculating prudential standards of an insurance (reinsurance) company and insurance group and other mandatory norms and limits

Minimum amount of authorized capital of an insurance (reinsurance) company

No. Types of licenses by insurance (reinsurance) industry Minimum amount of authorized capital (in monthly calculations) 1 for the “general insurance” industry 1,500,000 2 for the “life insurance” industry 1,500,000 3 for the “general insurance” industry and reinsurance 2,100,000 4 for the “life insurance” industry and reinsurance 2,100 000 5 in the “general insurance” industry in the “mortgage insurance” class 2,100,000 6 in reinsurance with reinsurance as an exclusive type of activity 10,500,000

Appendix 2 to Standard values and methods for calculating prudential standards of an insurance (reinsurance) organization and insurance group and other mandatory norms and limits

Comparison table of long-term ratings

No. Standard & Poor's Moody's Investors Service Fitch A.M. Best 1 AAA Aaa AAA aaa 2 AA+ Aa1 AA+ aa+ 3 AA Aa2 AA aa 4 AA- Aa3 AA- aa- 5 A+ A1 A+ a+ 6 A A2 A a 7 A- A3 A- a- 8 BBB+ Baa1 BBB+ BBB+ 9 BBB Baa2 BBB BBB 10 BBB- Baa3 BBB- BB- 11 BB+ Ba1 BB+ BB+ 12 BB Ba2 BB BB 13 BB- Ba3 BB- BB- 14 B+ B1 B+ 15 B B2 B 16 B- BB3 B- BB-

Appendix 3 to Standard values of the methodology for calculating prudential standards of an insurance (reinsurance) organization and insurance group and other mandatory norms and limits.

Table of increasing the minimum solvency margin from insurance premiums transferred (transferred) to reinsurance

Footnote: Footnote. Regulatory values are supplemented by Appendix 3 in accordance with the resolution of the Board of the National Bank of the Republic of Kazakhstan dated November 28, 2019 No. 214 (to come into effect from January 1, 2020); 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 enforced upon the expiration of ten calendar days after the day of its first official publication).

Name of the reinsurance organization Rating assessment of the reinsurer on an international or national scale (standard of adequacy of the solvency margin) Amount of insurance premiums transferred (transferred) to reinsurance under existing reinsurance agreements, total (in thousands of tenge) Percentage of the amount of insurance premiums transferred (transferred) to reinsurance under existing reinsurance agreements Amount of increase in the minimum size of the solvency margin (in thousands of tenge) (column 3 x column 4) 1 2 3 4 5 Reinsurance contracts concluded with non-resident reinsurers of the Republic of Kazakhstan, with the exception of reinsurers of the participating countries of the Treaty on the Eurasian Economic Union, ratified by the Law of the Republic of Kazakhstan “On Ratification of the Treaty on the Eurasian Economic Union” (hereinafter referred to as the Treaty on the EAEU) Group 1 “AA-” or higher 0% Group 2 from “A+” to “A-” 0% Group 3 from “BBB+” to “BBB-” 0.2% Group 4 from “BB+” to “BB-” 0.75% Group 5 from “B+” to “B-” 3.8% Group 6 below “B-” or absent 22% Reinsurance contracts concluded with resident reinsurers of the Republic of Kazakhstan, reinsurers participating in the Astana International Financial Center Group 7 not lower than "B" or "kzBB" 0% Group 8 "B-", "kzBB-", "kzB+" 0.2% Group 9 > 1.75 0.05% Group 10 > 1.5 0.1% Group 11 > 1.25 0.2% Group 12 > 1.1 0.5% Group 13 >= 1.0 3.8% Group 14 < 1.0 5% Reinsurance contracts concluded as part of participation in a reinsurance pool in the class “compulsory insurance of an employee against accidents in the performance of labor (official) duties”, formed by at least eight (at least 8) resident insurance organizations of the Republic of Kazakhstan Group 14-1 >= 1.0 or absent 0% Group 14-2 < 1.0 5% Reinsurance contracts concluded with reinsurers of the participating countries of the Treaty on the EAEU Group 15 from “BBB+” to “BBB-” 0% Group 16 from “BB+” to “BB-” 0.2% Group 17 from “B+” to “B-” 0.5% Group 18 below “B-” or absent 22% Total: Treaties reinsurance concluded as part of participation in an insurance (reinsurance) pool formed by at least three non-resident insurance organizations of the Republic of Kazakhstan registered in different states (countries) Group 19 from “BBB+” to “BBB-” 0% Group 20 from “BB+” to “BB-” 0.2% Group 21 from “B+” to “B-” 0.5% Group 22 below "B-" or absent 22% Total: Reinsurance contracts concluded with reinsurers participating in the Astana International Financial Center Group 23 not lower than "B" or "kzBB" 0% Group 24 "B-", "kzBB-", "kzB+" 0.2% Group 25 Below "B-", "kzBB-", "kzB+" or absent 5%

Appendix 3-1 to Standard values of the methodology for calculating prudential standards of an insurance (reinsurance) organization and insurance group and other mandatory norms and limits.

Table of increase in the minimum solvency margin based on the volume of obligations transferred (transferred) to reinsurance

Footnote: Footnote. Appendix 3-1 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 December 22, 2023 No. 95 (shall be brought into force ten calendar days after the day of its first official publication).

Appendix 4 to Standard values of the methodology for calculating prudential standards of an insurance (reinsurance) organization and insurance group and other mandatory norms and limits.

Table of assets of an insurance (reinsurance) company, taking into account their classification by quality and liquidity

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 January 27, 2026 No. 3 (shall be brought into force ten calendar days after the day of its first official publication).

№ Наименование показателя Учитываемый объем 1 2 3 1 Деньги - всего, в том числе: 1.1 деньги в кассе в сумме, не превышающей 1 (один) процент от суммы активов страховой (перестраховочной) организации за минусом активов перестрахования 100% 1.2 деньги в пути, в банках второго уровня Республики Казахстан 100% 1.3 деньги на текущих счетах в банках второго уровня Республики Казахстан, указанных в строках 2.1 и 2.2 настоящего приложения 100% 1.4 деньги на текущих счетах в банках второго уровня Республики Казахстан, указанных в строке 2.3 настоящего приложения 90% 1.5 деньги страховой (перестраховочной) организации на счетах у организации, осуществляющей брокерскую и (или) дилерскую деятельность на рынке ценных бумаг, или зарегистрированной на территории Международного финансового центра "Астана", находящиеся в банках второго уровня Республики Казахстан и в центральном депозитарии 100% 1.6 деньги страховой (перестраховочной) организации на счетах у организации, осуществляющей деятельность по управлению инвестиционным портфелем на рынке ценных бумаг, или зарегистрированной на территории Международного финансового центра "Астана", находящиеся в банках второго уровня Республики Казахстан 100% 2 Вклады - всего, в том числе: 2.1 вклады в банках второго уровня Республики Казахстан при условии, что данные банки являются эмитентами, акции которых включены в категорию "премиум" сектора "акции" площадки "Основная" официального списка фондовой биржи или находятся в представительском списке индекса фондовой биржи 100% 2.2 вклады в банках второго уровня Республики Казахстан, соответствующих одному из следующих требований: имеют долгосрочный кредитный рейтинг не ниже "B" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств, или рейтинговую оценку не ниже "kzBB+" по национальной шкале Standard & Poor's (Стандард энд Пурс), или рейтинг аналогичного уровня по национальной шкале одного из других рейтинговых агентств; являются дочерними банками-резидентами Республики Казахстан, родительские банки-нерезиденты Республики Казахстан которых имеют долгосрочный кредитный рейтинг в иностранной валюте не ниже "A-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств 100% 2.3 вклады в банках второго уровня Республики Казахстан, имеющих долгосрочный кредитный рейтинг "В-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств, или рейтинговую оценку от "kzBB" до "kzBB-" по национальной шкале Standard & Poor's (Стандард энд Пурс), или рейтинг аналогичного уровня по национальной шкале одного из других рейтинговых агентств 90% 2.4 вклады в международных финансовых организациях, имеющих долгосрочный рейтинг не ниже "AA-" агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств, вклады в Евразийском банке развития 100% 2.5 вклады в банках-нерезидентах, имеющих долгосрочный рейтинг не ниже "ВВВ-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств 100% 3 долговые ценные бумаги (за исключением долговых ценных бумаг, являющихся предметом операции "обратного РЕПО", заключенной с участием центрального контрагента) - всего, в том числе: 3.1 государственные ценные бумаги Республики Казахстан, включая эмитированные в соответствии с законодательством других государств, выпущенные Министерством финансов Республики Казахстан и Национальным Банком Республики Казахстан 100% 3.2 долговые ценные бумаги, выпущенные местными исполнительными органами Республики Казахстан, включенные в официальный список фондовой биржи, осуществляющей деятельность на территории Республики Казахстан 100% 3.3 долговые ценные бумаги, выпущенные юридическим лицом, осуществляющим выкуп ипотечных займов физических лиц, не связанных с предпринимательской деятельностью, сто процентов акций которого принадлежат Национальному Банку Республики Казахстан 100% 3.4 долговые ценные бумаги, выпущенные акционерными обществами "Банк Развития Казахстана", "Фонд национального благосостояния "Самрук-Казына", "Национальный управляющий холдинг "Байтерек", "Фонд проблемных кредитов" и Евразийским банком развития в соответствии с законодательством Республики Казахстан и других государств 100% 3.5 негосударственные долговые ценные бумаги юридических лиц Республики Казахстан, выпущенные в соответствии с законодательством Республики Казахстан и других государств, включенные в сектор "долговые ценные бумаги" площадки "Основная" официального списка фондовой биржи, или негосударственные долговые ценные бумаги юридических лиц Республики Казахстан, допущенные к публичным торгам на фондовой бирже, функционирующей на территории Международного финансового центра "Астана", соответствующие требованиям фондовой биржи для включения в сектор "долговые ценные бумаги" площадки "Основная" официального списка фондовой биржи 90% 3.6 негосударственные долговые ценные бумаги, выпущенные субъектами, отнесенными к малому или среднему предпринимательству согласно Предпринимательскому кодексу Республики Казахстан, включенные в сектор "долговые ценные бумаги" площадки "Основная" либо "Альтернативная" официального списка фондовой биржи, и имеющие гарантию акционерного общества "Фонд развития предпринимательства "ДАМУ" и (или) акционерного общества "Банк Развития Казахстана", сумма которой покрывает не менее 50 (пятидесяти) процентов номинальной стоимости данных негосударственных долговых ценных бумаг 95% 3.7 негосударственные долговые ценные бумаги юридических лиц Республики Казахстан, выпущенные в соответствии с законодательством Республики Казахстан и других государств, включенные в сектор "долговые ценные бумаги" площадки "Альтернативная" официального списка фондовой биржи, или негосударственные долговые ценные бумаги юридических лиц Республики Казахстан, допущенные к публичным торгам на фондовой бирже, функционирующей на территории Международного финансового центра "Астана", соответствующие требованиям фондовой биржи для включения в сектор "долговые ценные бумаги" площадки "Альтернативная" официального списка фондовой биржи 60% 3.8 негосударственные долговые ценные бумаги юридических лиц Республики Казахстан, выпущенные в соответствии с законодательством Республики Казахстан и других государств, имеющие (эмитент которых имеет) рейтинговую оценку не ниже "ВВ-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств, или рейтинг не ниже "kzA-" по национальной шкале Standard & Poor's (Стандард энд Пурс), или рейтинг аналогичного уровня по национальной шкале одного из других рейтинговых агентств 100% 3.9 негосударственные долговые ценные бумаги юридических лиц Республики Казахстан, выпущенные в соответствии с законодательством Республики Казахстан и других государств, имеющие (эмитент которых имеет) рейтинговую оценку от "В+" до "В-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств, или рейтинг от "kzBBB+" до "kzBB-" по национальной шкале Standard & Poor's (Стандард энд Пурс), или рейтинг аналогичного уровня по национальной шкале одного из других рейтинговых агентств 90% 3.10 негосударственные долговые ценные бумаги, выпущенные международными финансовыми организациями, имеющими рейтинговую оценку не ниже "AA-" агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств, а также долговые ценные бумаги, выпущенные Евразийским банком развития 100% 3.11 долговые ценные бумаги иностранных государств, имеющих суверенный рейтинг не ниже "ВВВ-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств 100% 3.12 долговые ценные бумаги иностранных государств, имеющих суверенный рейтинг от "ВВ+" до "ВВ-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств 90% 3.13 долговые ценные бумаги иностранных государств, имеющих суверенный рейтинг от "В+" до "В-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств 80% 3.14 негосударственные долговые ценные бумаги иностранных эмитентов, имеющие (эмитент которых имеет) рейтинговую оценку не ниже "ВВВ-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг одного из других рейтинговых агентств 100% 3.15 негосударственные долговые ценные бумаги иностранных эмитентов, имеющие (эмитент которых имеет) рейтинговую оценку от "ВВ+" до "ВВ-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг одного их других рейтинговых агентств 85% 3.16 негосударственные долговые ценные бумаги иностранных эмитентов, имеющие (эмитент которых имеет) рейтинговую оценку от "В+" до "В-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг одного их других рейтинговых агентств 70% 4 акции и депозитарные расписки (за исключением акций и депозитарных расписок, являющихся предметом операции "обратного РЕПО", заключенной с участием центрального контрагента) - всего, в том числе: 4.1 акции юридических лиц Республики Казахстан и иностранных эмитентов, входящих в состав основных фондовых индексов, и депозитарные расписки, базовым активом которых являются данные акции 100% 4.2 акции юридических лиц, включенные в официальный список фондовой биржи, соответствующие требованиям категории "премиум" сектора "акции" площадки "Основная" официального списка фондовой биржи и депозитарные расписки, базовым активом которых являются данные акции 100% 4.3 акции юридических лиц - резидентов Республики Казахстан, включенные в категорию "стандарт" сектора "акции" площадки "Основная" официального списка фондовой биржи, или акции юридических лиц - резидентов Республики Казахстан, включенные в официальный список фондовой биржи, функционирующей на территории Международного финансового центра "Астана", допущенные к публичным торгам, и депозитарные расписки, базовым активом которых являются данные акции, за исключением акций и депозитарных расписок, базовым активом которых являются данные акции, указанных в строке 4.4 настоящего приложения 80% 4.4 акции юридических лиц Республики Казахстан, включенные в сектор "акции" площадки "Альтернативная" официального списка фондовой биржи, или акции юридических лиц Республики Казахстан, включенные в подраздел официального списка "Сегмент регионального рынка акций" фондовой биржи, функционирующей на территории Международного финансового центра "Астана", допущенные к публичным торгам, и депозитарные расписки, базовым активом которых являются данные акции 60% 4.5 акции юридических лиц Республики Казахстан и иностранных эмитентов, имеющих рейтинговую оценку не ниже "ВВВ-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств, и депозитарные расписки, базовым активом которых являются данные акции 100% 4.6 акции юридических лиц Республики Казахстан и иностранных эмитентов, имеющих рейтинговую оценку от "ВВ+" до "ВВ-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств, и депозитарные расписки, базовым активом которых являются данные акции 85% 4.7 акции юридических лиц Республики Казахстан и иностранных эмитентов, имеющих рейтинговую оценку от "В+" до "В-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств, и депозитарные расписки, базовым активом которых являются данные акции 60% 4.8 акции юридических лиц (резидентов и нерезидентов Республики Казахстан): осуществляющих разработку, реализацию, поддержку программного обеспечения, используемого в деятельности финансовых организаций, в том числе для автоматизации их деятельности; оказывающих услуги по предоставлению возможности оказания финансовых услуг с использованием искусственного интеллекта, блокчейн и других инновационных технологий 30% 5 Иные ценные бумаги - всего, в том числе: 5.1 ценные бумаги инвестиционных фондов, включенные в официальный список фондовой биржи, осуществляющей деятельность на территории Республики Казахстан или функционирующих на территории Международного финансового центра "Астана" 70% 5.2 паи Exchange Traded Funds (ETF) (Эксчейндж Трэйдэд Фандс), структура активов которых повторяет структуру одного из основных фондовых индексов, или ценообразование по паям которых привязано к основным фондовым индексам 90% 5.3 паи Exchange Traded Funds (ETF) (Эксчейндж Трэйдэд Фандс), Exchange Traded Commodities (ETC) (Эксчейндж Трэйдэд Коммодитис), Exchange Traded Notes (ETN) (Эксчейндж Трэйдэд Ноутс), имеющие рейтинговую оценку не ниже "3 звезды" рейтингового агентства Morningstar (Морнинстар) 80% 5.4 инструменты исламского финансирования юридических лиц Республики Казахстан, выпущенные в соответствии с законодательством Республики Казахстан и других государств, имеющие (эмитент которых имеет) рейтинговую оценку не ниже "ВВВ-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств, или рейтинг не ниже "kzAAA" по национальной шкале Standard & Poor's (Стандард энд Пурс), или рейтинг аналогичного уровня по национальной шкале одного из других рейтинговых агентств 100% 5.5 инструменты исламского финансирования юридических лиц Республики Казахстан, выпущенные в соответствии с законодательством Республики Казахстан и других государств, имеющие (эмитент которых имеет) рейтингов оценку от "BB+" до "ВВ-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств, или рейтинг от "kzAA+" до "kzA-" по национальной шкале Standard & Poor's (Стандард энд Пурс), или рейтинг аналогичного уровня по национальной шкале одного из других рейтинговых агентств 90% 5.6 инструменты исламского финансирования юридических лиц Республики Казахстан, выпущенные в соответствии с законодательством Республики Казахстан и других государств, имеющие (эмитент которых имеет) рейтинговую оценку от "В+" до "В-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств, или рейтинг от "kzBBB+" до "kzBB-" по национальной шкале Standard & Poor's (Стандард энд Пурс), или рейтинг аналогичного уровня по национальной шкале одного из других рейтинговых агентств 80% 5.7 инструменты исламского финансирования юридических лиц Республики Казахстан, выпущенные в соответствии с законодательством Республики Казахстан и других государств, родительские организации которых имеют рейтинговую оценку не ниже "ВВВ-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинговой оценкой аналогичного уровня одного из других рейтинговых агентств 90% 5.8 ценные бумаги, являющиеся предметом операции "обратного РЕПО", заключенной с участием центрального контрагента 100% 6 иные активы - всего, в том числе: 6.1 аффинированные драгоценные металлы и металлические счета 100% 6.2 займы страхователям страховой (перестраховочной) организации, осуществляющей деятельность по отрасли "страхование жизни", в объеме 100 (ста) процентов от суммы основного долга 100% 6.3 основные средства в виде недвижимого имущества в сумме, не превышающей 5 (пяти) процентов от суммы высоколиквидных активов страховой (перестраховочной) организации 100% 6.4 суммы к получению от перестраховщиков, страховые премии к получению от страхователей (перестрахователей) и посредников в сумме, не превышающей 10 (десяти) процентов от суммы высоколиквидных активов страховой (перестраховочной) организации, за исключением страховых премий к получению от юридических лиц, указанных в подпункте 10) пункта 34 Нормативов 100% 6.5 требования к эмитентам ценных бумаг по выплате номинальной стоимости ценных бумаг, возникшие в связи с истечением срока их обращения, предусмотренного проспектом выпуска ценных бумаг (не просроченные по условиям проспекта выпуска ценных бумаг) 100% 6.6 страховые премии к получению в сумме, не превышающей 15 (пятнадцати) процентов от суммы высоколиквидных активов страховой (перестраховочной) организации, когда страхователем является: юридическое лицо, более 50 (пятидесяти) процентов голосующих акций (долей участия в уставном капитале) которого прямо или косвенно принадлежат национальному управляющему холдингу, либо юридическое лицо с рейтингом не ниже "ВВ+" рейтингового агентства Standard & Poor's (Стандард энд Пурс) или других рейтинговых агентств, либо крупное системообразующее предприятие, соответствующее следующим критериям: выручка от реализации продукции (оказания услуг) составляет не менее 50 (пятидесяти) миллиардов тенге ежегодно за последние 2 (два) года налоговые отчисления составляют не менее 3 (трех) миллиардов тенге ежегодно за последние 2 (два) года 100%

Appendix 5 to Standard values of the methodology for calculating prudential standards of an insurance (reinsurance) organization and insurance group and other mandatory norms and limits.

Table of highly liquid assets of an insurance (reinsurance) company

Footnote: Footnote. Regulatory values are supplemented by Appendix 5 in accordance with the resolution of the Board of the National Bank of the Republic of Kazakhstan dated November 28, 2019 No. 214 (to come into effect from January 1, 2020); 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 enforced upon the expiration of ten calendar days after the day of its first official publication).

№ Наименование показателя Учитываемый объем 1 2 3 1 Деньги - всего, в том числе: 1.1 деньги в кассе в сумме, не превышавшей 1 (один) процент от суммы активов страховой (перестраховочной) организации за минусом активов перестрахования 100% 1.2 деньги страховой (перестраховочной) организации на счетах у организации, осуществляющей брокерскую и (или) дилерскую деятельность на рынке ценных бумаг, или зарегистрированной на территории Международного финансового центра "Астана", находящиеся в банках второго уровня Республики Казахстан и в центральном депозитарии 100% 1.3 деньги на текущих счетах в банках второго уровня Республики Казахстан, указанных в строках 2.1 и 2.2 настоящего приложения 100% 1.4 деньги на текущих счетах в банках второго уровня Республики Казахстан, указанных в строке 2.3 настоящего приложения 90% 1.5 деньги страховой (перестраховочной) организации на счетах у организации, осуществляющей деятельность по управлению инвестиционным портфелем на рынке ценных бумаг, или зарегистрированной на территории Международного финансового центра "Астана", находящиеся в банках второго уровня Республики Казахстан 100% 2 Вклады - всего, в том числе: 2.1 вклады в банках второго уровня Республики Казахстан при условии, что данные банки являются эмитентами, акции которых включены в категорию "премиум" сектора "акции" площадки "Основная" официального списка фондовой биржи или находятся в представительском списке индекса фондовой биржи 100% 2.2 вклады в банках второго уровня Республики Казахстан, соответствующих одному из следующих требований: имеют долгосрочный кредитный рейтинг не ниже "B" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств, или рейтинговую оценку не ниже "kzBB+" по национальной шкале Standard & Poor's (Стандард энд Пурс), или рейтинг аналогичного уровня по национальной шкале одного из других рейтинговых агентств; являются дочерними банками-резидентами Республики Казахстан, родительские банки-нерезиденты Республики Казахстан которых имеют долгосрочный кредитный рейтинг в иностранной валюте не ниже "А-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств 100% 2.3 вклады в банках второго уровня Республики Казахстан, имеющих долгосрочный кредитный рейтинг "В-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств, или рейтинговую оценку от "kzBB" до "kzBB-" по национальной шкале Standard & Poor's (Стандард энд Пурс), или рейтинг аналогичного уровня по национальной шкале одного из других рейтинговых агентств 90% 2.4 вклады в международных финансовых организациях, имеющих долгосрочный рейтинг не ниже "АА-" агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств, вклады в Евразийском банке развития 100% 2.5 вклады в банках-нерезидентах, имеющих долгосрочный рейтинг не ниже "ВВВ-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств 100% 3 Долговые ценные бумаги (за исключением долговых ценных бумаг, являющихся предметом операции "обратного РЕПО", заключенной с участием центрального контрагента) - всего, в том числе: 3.1 государственные ценные бумаги Республики Казахстан, включая эмитированные в соответствии с законодательством других государств, выпущенные Министерством финансов Республики Казахстан и Национальным Банком Республики Казахстан 100% 3.2 долговые ценные бумаги, выпущенные местными исполнительными органами Республики Казахстан, включенные в официальный список фондовой биржи, осуществляющей деятельность на территории Республики Казахстан 100% 3.3 долговые ценные бумаги, выпущенные юридическим лицом, осуществляющим выкуп ипотечных займов физических лиц, не связанных с предпринимательской деятельностью, сто процентов акций которого принадлежат Национальному Банку Республики Казахстан 100% 3.4 долговые ценные бумаги, выпущенные акционерными обществами "Банк Развития Казахстана", "Фонд национального благосостояния "Самрук-Казына", "Национальный управляющий холдинг "Байтерек", "Фонд проблемных кредитов" и Евразийским банком развития в соответствии с законодательством Республики Казахстан и других государств 100% 3.5 негосударственные долговые ценные бумаги юридических лиц Республики Казахстан, выпущенные в соответствии с законодательством Республики Казахстан и других государств, включенные в сектор "долговые ценные бумаги" площадки "Основная" официального списка фондовой биржи, или негосударственные долговые ценные бумаги юридических лиц Республики Казахстан, допущенные к публичным торгам на фондовой бирже, функционирующей на территории Международного финансового центра "Астана", соответствующие требованиям фондовой биржи для включения в сектор "долговые ценные бумаги" площадки "Основная" официального списка фондовой биржи 90% 3.6 негосударственные долговые ценные бумаги, выпущенные субъектами, отнесенными к малому или среднему предпринимательству согласно Предпринимательскому кодексу Республики Казахстан, включенные в сектор "долговые ценные бумаги" площадки "Основная" либо "Альтернативная" официального списка фондовой биржи, и имеющие гарантию акционерного общества "Фонд развития предпринимательства "ДАМУ" и (или) акционерного общества "Банк Развития Казахстана", сумма которой покрывает не менее 50 (пятидесяти) процентов номинальной стоимости данных негосударственных долговых ценных бумаг 95% 3.7 негосударственные долговые ценные бумаги юридических лиц Республики Казахстан, выпущенные в соответствии с законодательством Республики Казахстан и других государств, включенные в сектор "долговые ценные бумаги" площадки "Альтернативная" официального списка фондовой биржи, или негосударственные долговые ценные бумаги юридических лиц Республики Казахстан, допущенные к публичным торгам на фондовой бирже, функционирующей на территории Международного финансового центра "Астана", соответствующие требованиям фондовой биржи для включения в сектор "долговые ценные бумаги" площадки "Альтернативная" официального списка фондовой биржи 60% 3.8 негосударственные долговые ценные бумаги юридических лиц Республики Казахстан, выпущенные в соответствии с законодательством Республики Казахстан и других государств, имеющие (эмитент которых имеет) рейтинговую оценку не ниже "ВВ-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств, или рейтинг не ниже "kzA-" по национальной шкале Standard & Poor's, или рейтинг аналогичного уровня по национальной шкале одного из других рейтинговых агентств 100% 3.9 негосударственные долговые ценные бумаги юридических лиц Республики Казахстан, выпущенные в соответствии с законодательством Республики Казахстан и других государств, имеющие (эмитент которых имеет) рейтинговую оценку от "В+" до "В-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств, или рейтинг от "kzBBB+" до "kzBB-" по национальной шкале Standard & Poor's (Стандард энд Пурс), или рейтинг аналогичного уровня по национальной шкале одного из других рейтинговых агентств 90% 3.10 негосударственные долговые ценные бумаги, выпущенные международными финансовыми организациями, имеющими рейтинговую оценку не ниже "АА-" агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств, а также долговые ценные бумаги, выпущенные Евразийским банком развития 100% 3.11 долговые ценные бумаги иностранных государств, имеющих суверенный рейтинг не ниже "ВВВ-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств 100% 3.12 долговые ценные бумаги иностранных государств, имеющих суверенный рейтинг от "ВВ+" до "ВВ-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств 90% 3.13 долговые ценные бумаги иностранных государств, имеющих суверенный рейтинг от "В+" до "В-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств 80% 3.14 негосударственные долговые ценные бумаги иностранных эмитентов, имеющие (эмитент которых имеет) рейтинговую оценку не ниже "ВВВ-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг одного из других рейтинговых агентств 100% 3.15 негосударственные долговые ценные бумаги иностранных эмитентов, имеющие (эмитент которых имеет) рейтинговую оценку от "ВВ+" до "ВВ-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг одного их других рейтинговых агентств 85% 3.16 негосударственные долговые ценные бумаги иностранных эмитентов, имеющие (эмитент которых имеет) рейтинговую оценку от "В+" до "В-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг одного их других рейтинговых агентств 70% 4 акции и депозитарные расписки (за исключением акций и депозитарных расписок, являющихся предметом операции "обратного РЕПО", заключенной с участием центрального контрагента) - всего, в том числе: 4.1 акции юридических лиц Республики Казахстан и иностранных эмитентов, входящих в состав основных фондовых индексов, и депозитарные расписки, базовым активом которых являются данные акции 100% 4.2 акции юридических лиц, включенные в официальный список фондовой биржи, соответствующие требованиям категории "премиум" сектора "акции" площадки "Основная" официального списка фондовой биржи и депозитарные расписки, базовым активом которых являются данные акции 100% 4.3 акции юридических лиц - резидентов Республики Казахстан, включенные в категорию "стандарт" сектора "акции" площадки "Основная" официального списка фондовой биржи, или акции юридических лиц - резидентов Республики Казахстан, включенные в официальный список фондовой биржи, функционирующей на территории Международного финансового центра "Астана", допущенные к публичным торгам, и депозитарные расписки, базовым активом которых являются данные акции, за исключением акций и депозитарных расписок, базовым активом которых являются данные акции, указанных в строке 4.4 настоящего приложения 80% 4.4 акции юридических лиц Республики Казахстан, включенные в сектор "акции" площадки "Альтернативная" официального списка фондовой биржи, или акции юридических лиц Республики Казахстан, включенные в подраздел официального списка "Сегмент регионального рынка акций" фондовой биржи, функционирующей на территории Международного финансового центра "Астана", допущенные к публичным торгам, и депозитарные расписки, базовым активом которых являются данные акции 60% 4.5 акции юридических лиц Республики Казахстан и иностранных эмитентов, имеющих рейтинговую оценку не ниже "ВВВ-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств, и депозитарные расписки, базовым активом которых являются данные акции 100% 4.6 акции юридических лиц Республики Казахстан и иностранных эмитентов, имеющих рейтинговую оценку от "ВВ+" до "ВВ-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств, и депозитарные расписки, базовым активом которых являются данные акции 85% 4.7 акции юридических лиц Республики Казахстан и иностранных эмитентов, имеющих рейтинговую оценку от "В+" до "В-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств, и депозитарные расписки, базовым активом которых являются данные акции 60% 4.8 акции юридических лиц (резидентов и нерезидентов Республики Казахстан): осуществляющих разработку, реализацию, поддержку программного обеспечения, используемого в деятельности финансовых организаций, в том числе для автоматизации их деятельности; оказывающих услуги по предоставлению возможности оказания финансовых услуг с использованием искусственного интеллекта, блокчейн и других инновационных технологий 30% 5 Иные ценные бумаги - всего, в том числе: 5.1 ценные бумаги инвестиционных фондов, включенные в официальный список фондовой биржи, осуществляющей деятельность на территории Республики Казахстан или функционирующих на территории Международного финансового центра "Астана" 70% 5.2 паи Exchange Traded Funds (ETF) (Эксчейндж Трэйдэд Фандс), структура активов которых повторяет структуру одного из основных фондовых индексов, или ценообразование по паям которых привязано к основным фондовым индексам 90% 5.3 паи Exchange Traded Funds (ETF) (Эксчейндж Трэйдэд Фандс), Exchange Traded Commodities (ETC) (Эксчейндж Трэйдэд Коммодитис), Exchange Traded Notes (ETN) (Эксчейндж Трэйдэд Ноутс), имеющие рейтинговую оценку не ниже "3 звезды" рейтингового агентства Morningstar (Морнинстар) 80% 5.4 инструменты исламского финансирования юридических лиц Республики Казахстан, выпущенные в соответствии с законодательством Республики Казахстан и других государств, имеющие рейтинговую оценку не ниже "ВВВ-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств, или рейтинг не ниже "kzAAA" по национальной шкале Standard & Poor's (Стандард энд Пурс), или рейтинг аналогичного уровня по национальной шкале одного из других рейтинговых агентств 100% 5.5 инструменты исламского финансирования юридических лиц Республики Казахстан, выпущенные в соответствии с законодательством Республики Казахстан и других государств, имеющие рейтингов оценку от "BB+" до "ВВ-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств, или рейтинг от "kzAA+" до "kzA-" по национальной шкале Standard & Poor's (Стандард энд Пурс), или рейтинг аналогичного уровня по национальной шкале одного из других рейтинговых агентств 90% 5.6 инструменты исламского финансирования юридических лиц Республики Казахстан, выпущенные в соответствии с законодательством Республики Казахстан и других государств, имеющие рейтинговую оценку от "В+" до "В-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинг аналогичного уровня одного из других рейтинговых агентств, или рейтинг от "kzBBB+" до "kzBB-" по национальной шкале Standard & Poor's (Стандард энд Пурс), или рейтинг аналогичного уровня по национальной шкале одного из других рейтинговых агентств 80% 5.7 инструменты исламского финансирования юридических лиц Республики Казахстан, выпущенные в соответствии с законодательством Республики Казахстан и других государств, родительские организации которых имеют рейтинговую оценку не ниже "ВВВ-" по международной шкале агентства Standard & Poor's (Стандард энд Пурс) или рейтинговой оценкой аналогичного уровня одного из других рейтинговых агентств 90% 5.8 ценные бумаги, являющиеся предметом операции "обратного РЕПО", заключенной с участием центрального контрагента 100% 6 Иные активы - всего, в том числе: 6.1 аффинированные драгоценные металлы и металлические счета 100% 6.2 требования к эмитентам ценных бумаг по выплате номинальной стоимости ценных бумаг, возникшие в связи с истечением срока их обращения, предусмотренного проспектом выпуска ценных бумаг (не просроченные по условиям проспекта выпуска ценных бумаг) 100%

Appendix 6 to Standard values of the methodology for calculating prudential standards of an insurance (reinsurance) organization and insurance group and other mandatory norms and limits.

Additional information for calculating indicators of prudential standards and other mandatory norms, and limits of an insurance (reinsurance) company as of "" _20

(thousand tenge)

Footnote: Footnote. Regulatory values are supplemented by Appendix 6 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 January 27, 2026 No. 3 (shall be enforced upon the expiration of ten calendar days after the day of its first official publication).

Наименование Код строки Сумма 1 2 3 Активы, сформированные с учетом пруденциальных нормативов (регуляторные активы), в том числе: 100 Денежные средства и эквиваленты денежных средств 101 Вклады размещенные 102 Ценные бумаги, оцениваемые по справедливой стоимости, изменения которой отражаются в составе прибыли или убытка 103 Ценные бумаги, оцениваемые по справедливой стоимости через прочий совокупный доход 104 Операции "обратное репо" 105 Аффинированные драгоценные металлы 106 Производные финансовые инструменты 107 Активы перестрахования по незаработанным премиям (за вычетом резервов на обесценение) 108 Активы перестрахования по произошедшим, но незаявленным убыткам (за вычетом резервов на обесценение) 109 Активы перестрахования по непроизошедшим убыткам по договорам страхования (перестрахования) жизни (за вычетом резервов на обесценение) 110 Активы перестрахования по непроизошедшим убыткам по договорам аннуитета (за вычетом резервов на обесценение) 111 Активы перестрахования по заявленным, но неурегулированным убыткам (за вычетом резервов на обесценение) 112 Страховые премии к получению от страхователей (перестрахователей) и посредников (за вычетом резервов на обесценение) 113 Комиссионные доходы по перестрахованию, начисленные с учетом требований к пруденциальным нормативам 114 Дебиторская задолженность по страхованию и перестрахованию (за вычетом резервов на обесценение) 115 Прочая дебиторская задолженность (за вычетом резервов на обесценение) 116 Займы, предоставленные страхователям (за вычетом резервов на обесценение) 117 Расходы будущих периодов 118 Текущий налоговый актив 119 Отложенный налоговый актив 120 Ценные бумаги, оцениваемые по амортизированный стоимости 121 Инвестиции в капитал других юридических лиц 122 Запасы 123 Основные средства 124 Активы в форме права пользования 125 Инвестиционное имущество 126 Долгосрочные активы, предназначенные для продажи 127 Нематериальные активы 128 Прочие регуляторные активы 129 Обязательства, сформированные с учетом пруденциальных нормативов (регуляторные обязательства), в том числе: 200 Резерв незаработанной премии 201 Резерв непроизошедших убытков по договорам страхования (перестрахования) жизни 202 Резерв непроизошедших убытков по договорам аннуитета 203 Резерв произошедших, но незаявленных убытков 204 Резерв заявленных, но неурегулированных убытков 205 Займы полученные 206 Расчеты с перестраховщиками 207 Расчеты с посредниками по страховой (перестраховочной) деятельности 208 Расчеты с акционерами по дивидендам 209 Счета к уплате по договорам страхования (перестрахования) 210 Прочая кредиторская задолженность 211 Оценочные обязательства 212 Обязательства по аренде 213 Операции репо 214 Производные финансовые инструменты 215 Выпущенные облигации 216 Доходы будущих периодов 217 Обязательство по налогам и другим обязательным платежам в бюджет 218 Отложенное налоговое обязательство 219 Прочие регуляторные обязательства 220 Капитал, сформированный с учетом пруденциальных нормативов (регуляторный капитал), в том числе: 300 Уставный капитал (взносы учредителей) 301 Изъятый капитал (взносы учредителей) 302 Резервный капитал 303 Дополнительный оплаченный капитал 304 Регуляторный резерв непредвиденных рисков 305 Стабилизационный регуляторный резерв 306 Резерв переоценки ценных бумаг, оцениваемых по справедливой стоимости через прочий совокупный доход 307 Резерв обесценения ценных бумаг, оцениваемых по справедливой стоимости через прочий совокупный доход 308 Прочие регуляторные резервы 309 Нераспределенная прибыль (непокрытый убыток) с учетом страховых резервов 310 в том числе: предыдущих лет 310.1 отчетного периода 310.2 Доходы, начисленные с учетом пруденциальных нормативов (регуляторные доходы), в том числе: 400 Доходы от страховой деятельности 401 Страховые премии, принятые по договорам страхования 402 Страховые премии, принятые по договорам перестрахования 403 Страховые премии, переданные на перестрахование 404 Чистая сумма страховых премий 405 Изменение резерва незаработанной премии 406 Изменение регуляторных активов перестрахования по незаработанным премиям 407 Чистая сумма заработанных страховых премий 408 Доходы в виде комиссионного вознаграждения по страховой деятельности, к начислению с учетом требований пруденциального регулирования 409 Прочие регуляторные доходы от страховой деятельности 410 Доходы от инвестиционной деятельности 411 Доходы, связанные с получением вознаграждения 412 в том числе: доходы в виде вознаграждения по ценным бумагам 412.1 доходы в виде вознаграждения по размещенным вкладам 412.2 Доходы (расходы) по операциям с финансовыми активами (нетто) 413 в том числе: доходы (расходы) от купли-продажи ценных бумаг (нетто) 413.1 доходы (расходы) от операций репо (нетто) 413.2 доходы (расходы) от операций с аффинированными драгоценными металлами 413.3 доходы (расходы) от операций с производными финансовыми инструментами 413.4 Доходы (расходы) от переоценки (нетто) 414 в том числе: доходы (расходы) от изменения стоимости ценных бумаг, оцениваемых по справедливой стоимости, изменения которой отражаются в составе прибыли или убытка (нетто) 414.1 доходы (расходы) от переоценки иностранной валюты (нетто) 414.2 доходы (расходы) от переоценки аффинированных драгоценных металлов 414.3 доходы (расходы) от переоценки производных финансовых инструментов 414.4 Доходы от участия в капитале других юридических лиц 415 Прочие доходы от инвестиционной деятельности 416 Доходы от иной деятельности 417 Доходы (расходы) от реализации активов и получения (передачи) активов 418 Прочие доходы от иной деятельности 419 Прочие регуляторные доходы 420 Расходы, начисленные с учетом пруденциальных нормативов (регуляторные расходы), в том числе: 500 Регуляторные расходы по осуществлению страховых выплат по договорам страхования 501 Регуляторные расходы по осуществлению страховых выплат по договорам, принятым на перестрахование 502 Возмещение регуляторных расходов по рискам, переданным на перестрахование 503 Возмещение по регрессному требованию (нетто) 504 Чистые регуляторные расходы по осуществлению страховых выплат 505 Регуляторные расходы по урегулированию страховых убытков 506 Изменение резерва непроизошедших убытков по договорам страхования (перестрахования) жизни 507 Изменение регуляторных активов перестрахования по непроизошедшим убыткам по договорам страхования (перестрахования) жизни 508 Изменение резерва непроизошедших убытков по договорам аннуитета 509 Изменение регуляторных активов перестрахования по непроизошедшим убыткам по договорам аннуитета 510 Изменение резерва произошедших, но незаявленных убытков 511 Изменение регуляторных активов перестрахования по произошедшим, но незаявленным убыткам 512 Изменение резерва заявленных, но неурегулированных убытков 513 Изменение регуляторных активов перестрахования по заявленным, но неурегулированным убыткам 514 Регуляторные расходы по выплате комиссионного вознаграждения по страховой деятельности 515 Расходы, связанные с расторжением договора страхования (перестрахования) 516 Расходы, связанные с выплатой вознаграждения 517 в том числе: расходы в виде премии по ценным бумагам 517.1 Процентные расходы по обязательствам по аренде 518 Расходы на резервы по обесценению 519 Восстановление резервов по обесценению 520 Чистые расходы на резервы по обесценению 521 Общие и административные расходы 522 в том числе: расходы на оплату труда и командировочные 522.1 текущие налоги и другие обязательные платежи в бюджет, за исключением корпоративного подоходного налога 522.2 расходы по текущей аренде 522.3 расходы на рекламу 522.4 услуги третьих лиц 522.5 расходы на аудиторские, консультационные услуги и информационные расходы 522.6 амортизационные отчисления 522.7 Прочие регуляторные расходы 523 Прибыль (убыток) за период 524 Прибыль (убыток) от прекращенной деятельности 525 Чистая прибыль (убыток) до уплаты корпоративного подоходного налога 526 Корпоративный подоходный налог 527 в том числе: от основной деятельности 527.1 от иной деятельности 527.2 Итого чистая прибыль (убыток) после уплаты налогов 528

Appendix 2 to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated December 26, 2016 No. 304

List, forms, deadlines for submitting reports on compliance with prudential standards by insurance (reinsurance) organizations and insurance groups

Footnote: Footnote. Appendix 2 was excluded by the resolution of the Board of the National Bank of the Republic of Kazakhstan dated November 28, 2019 No. 214 (to come into effect from January 1, 2020).

Appendix 3 to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated December 26, 2016 No. 304

Rules for reporting on compliance with prudential standards by insurance (reinsurance) organizations and insurance groups

Footnote: Footnote. Appendix 3 was excluded by the resolution of the Board of the National Bank of the Republic of Kazakhstan dated November 28, 2019 No. 214 (to come into effect from January 1, 2020).

Appendix 4 to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated December 26, 2016 No. 304

Requirements for shares (stakes in the authorized capital) of legal entities acquired by insurance (reinsurance) organizations, subsidiaries of insurance (reinsurance) organizations or insurance holding companies

These Requirements for shares (stakes in the authorized capital) of legal entities acquired by insurance (reinsurance) organizations, subsidiaries of insurance (reinsurance) organizations or insurance holding companies (hereinafter referred to as the Requirements) are developed in accordance with the Law of the Republic of Kazakhstan “On Insurance Activities” (hereinafter referred to as the Law).

2. Insurance (reinsurance) organizations, subsidiaries of insurance (reinsurance) organizations or insurance holding companies acquire shares (participatory interests in the authorized capital) of legal entities if the acquired shares (participatory interests in the authorized capital) of legal entities meet the following requirements:

shares of legal entities - non-residents of the Republic of Kazakhstan, having price quotations on an active market necessary for assessing fair value and depository receipts, the underlying asset of which is these shares;

2) shares of legal entities – residents of the Republic of Kazakhstan, included in the official list of the stock exchange, included in the official list of the stock exchange operating in the territory of the Republic of Kazakhstan, and depository receipts, the underlying assets of which are these shares;

3) shares of legal entities – residents of the Republic of Kazakhstan, admitted to public trading on the stock exchange operating on the territory of the Astana International Financial Center, and depository receipts, the underlying assets of which are these shares;

4) shares of legal entities of the Republic of Kazakhstan and foreign issuers, included in the main stock indices, and depositary receipts, the underlying asset of which is these shares;

5) shares of the joint-stock company "Insurance Payment Guarantee Fund.

Appendix 5 to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated December 26, 2016 No. 304

List of bonds of international financial organizations purchased by insurance holding companies

Footnote: Footnote. The list 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 December 27, 2024 No. 92 (shall come into effect ten calendar days after the day of its first official publication).

In accordance with subparagraph 1) of paragraph 4 of Article 48 of the Law of the Republic of Kazakhstan “On Insurance Activities,” insurance holding companies are allowed to purchase bonds issued by the following international financial organizations:

Asian Development Bank;

the Asian Infrastructure Investment Bank;

Inter-American Development Bank;

African Development Bank;

Eurasian Development Bank;

European Investment Bank;

European Bank for Reconstruction and Development;

the Islamic Corporation for the Development of the Private Sector;

Islamic Development Bank;

Bank for International Settlements;

International Bank for Reconstruction and Development;

International Finance Corporation.

Appendix 6 to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated December 26, 2016 No. 304

Minimum required rating for bonds purchased by insurance holding companies and list of rating agencies

Insurance holding companies purchase bonds that have the following minimum required rating:

a rating not lower than "BBB-" on the international scale of Standard & Poor's or a rating of a similar level on the international scale of the rating agencies Moody's Investors Service, Fitch, as well as their subsidiaries rating organizations, for bonds having the status of government issued by the central governments of foreign states or the Ministry of Finance of the Republic of Kazakhstan;

2) a rating not lower than "BBB-" on the international scale of the Standard & Poor's rating agency or a rating of a similar level on the international scale of the rating agencies Moody's Investors Service, Fitch, as well as their subsidiaries rating organizations, for bonds issued by foreign organizations;

3) a rating not lower than "B-" on the international scale or not lower than "kzBB-" on the national scale of the Standard & Poor's rating agency, or a rating of a similar level by the rating agencies Moody's Investors Service, Fitch, as well as their subsidiaries rating organizations, for bonds issued by organizations of the Republic of Kazakhstan in accordance with the legislation of the Republic of Kazakhstan and other states.

Insurance holding companies, for the purpose of hedging risks, also acquire derivative financial instruments, the underlying asset of which is bonds that have the minimum required rating specified in part one of this paragraph.

2. Establish the following list of rating agencies, the minimum required rating of which is for bonds purchased by insurance holding companies:

Standard & Poor's;

2) Moody's Investors Service;

3) Fitch;

4) subsidiary rating organizations of the rating agencies specified in subparagraphs 1), 2) and 3) of this paragraph.

Appendix 7 to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated December 26, 2016 No. 304

List of financial instruments (except for shares and participation interests in the authorized capital) purchased by insurance (reinsurance) organizations

In accordance with subparagraph 2) paragraph 4 of Article 48 of the Law of the Republic of Kazakhstan “On Insurance Activities”, insurance (reinsurance) organizations are allowed to purchase the following financial instruments (except for shares and participation interests in the authorized capital):

deposits in second-tier banks of the Republic of Kazakhstan subject to one of the following conditions:

banks are issuers whose shares are included in the “premium” category of the “stocks” sector of the “Main” platform of the official list of the stock exchange or are on the representative list of the stock exchange index;

banks have a long-term credit rating of at least "B-" on the international scale of Standard & Poor's (Standard & Poor's) or a rating of a similar level by one of the other rating agencies or a rating of at least "kzBB-" on the national scale of Standard & Poor's (Standard & Poor's) or a rating of a similar level on the national scale of Moody's Investors Service (Moody's Investors Service), Fitch (Fitch), their subsidiaries rating organizations and rating agencies that meet the criteria established by paragraph 10-2 of the Standards, subject to the conditions established by paragraph 10-1 of the Standards (hereinafter referred to as other rating agencies);

banks are subsidiary resident banks of the Republic of Kazakhstan, whose parent non-resident bank of the Republic of Kazakhstan has a long-term credit rating of at least “A-” on the international scale of Standard & Poor's (Standard & Poor's) or a rating of a similar level by one of the other rating agencies;

2) deposits placed with international financial organizations that have a long-term rating of at least “AA-” by Standard & Poor’s (Standard & Poor’s) or a rating of a similar level by one of the other rating agencies, deposits placed with the Eurasian Development Bank;

3) deposits placed in non-resident banks that have a long-term rating of at least “BBB-” on the international scale of Standard & Poor's (Standard & Poor's) or a rating of a similar level by one of the other rating agencies;

4) government securities of the Republic of Kazakhstan, including those issued in accordance with the legislation of other states, issued by the Ministry of Finance of the Republic of Kazakhstan and the National Bank of the Republic of Kazakhstan;

5) debt securities issued by local executive bodies of the Republic of Kazakhstan, included in the official list of the stock exchange operating in the territory of the Republic of Kazakhstan;

6) debt securities issued by a legal entity that purchases mortgage loans from individuals not related to business activities, one hundred percent of the shares of which belong to the National Bank of the Republic of Kazakhstan;

7) debt securities issued by joint-stock companies Development Bank of Kazakhstan, National Welfare Fund Samruk-Kazyna, National Management Holding Baiterek, Problem Loan Fund and the Eurasian Development Bank in accordance with the legislation of the Republic of Kazakhstan and other states;

8) debt securities for which there is a state guarantee of the Government of the Republic of Kazakhstan;

9) non-government debt securities of legal entities of the Republic of Kazakhstan included in the official list of the stock exchange operating in the territory of the Republic of Kazakhstan;

10) non-government debt securities of legal entities of the Republic of Kazakhstan admitted to public trading on the stock exchange operating on the territory of the Astana International Financial Center;

11) debt securities issued by the following international financial organizations:

Asian Development Bank;

the Asian Infrastructure Investment Bank;

Inter-American Development Bank;

African Development Bank;

Eurasian Development Bank;

the European Bank for Reconstruction and Development;

European Investment Bank;

the Council of Europe Development Bank;

the Islamic Corporation for the Development of the Private Sector;

Islamic Development Bank;

the Multilateral Investment Guarantee Agency;

the Nordic Investment Bank;

the International Monetary Fund;

the International Development Association;

the Bank for International Settlements;

the International Center for Settlement of Investment Disputes;

the International Bank for Reconstruction and Development;

the International Finance Corporation;

12) debt securities with the status of government issued by the central governments of foreign countries with a sovereign rating of at least “B-” on the international scale of Standard & Poor's (Standard & Poor's) or a rating of a similar level by one of the other rating agencies;

13) non-government debt securities issued by foreign issuers with a rating of at least “B-” on the international scale of Standard & Poor’s (Standard & Poor’s) or a rating of a similar level by one of the other rating agencies;

14) refined precious metals and metal bills;

15) securities of investment funds included in the official list of the stock exchange operating on the territory of the Republic of Kazakhstan or operating on the territory of the Astana International Financial Center;

16) shares of Exchange Traded Funds (ETF) (Exchange Traded Funds), the asset structure of which repeats the structure of one of the main stock indices, or the pricing of shares of which is tied to the main stock indices;

17) shares of Exchange Traded Funds (ETF), Exchange Traded Commodities (ETC), Exchange Traded Notes (ETN), having a rating of at least “3 stars” by the Morningstar rating agency;

18) Islamic finance instruments with a rating of the security and (or) issuer not lower than “B-” on the international scale of Standard & Poor's (Standard & Poor's) or a rating of a similar level by one of the other rating agencies;

19) Islamic financing instruments for legal entities of the Republic of Kazakhstan, issued in accordance with the legislation of the Republic of Kazakhstan and other states, the parent organizations of which have a rating of at least “BBB-” on the international scale of Standard & Poor's (Standard & Poor's) or a rating of a similar level by one of the other rating agencies.

2. Insurance (reinsurance) organizations, for the purpose of hedging risks, also acquire derivative financial instruments, the underlying asset of which are financial instruments permitted for acquisition by insurance (reinsurance) organizations in accordance with this List and the Requirements for shares (participatory interests in the authorized capital) of legal entities acquired by insurance (reinsurance) organizations, subsidiaries of insurance (reinsurance) organizations or insurance holding companies, established by this resolution, as well as foreign currencies of countries that have a sovereign rating of at least “AA-” on the international scale of Standard & Poor's (Standard & Poor's) or a rating of a similar level by one of the other rating agencies, and the euro currency.

3. Insurance (reinsurance) organizations acquire financial instruments of legal entities (except for deposits in second-tier banks of the Republic of Kazakhstan), specified in this List and in the Requirements for shares (participatory interests in the authorized capital) of legal entities acquired by insurance (reinsurance) organizations, subsidiaries of insurance (reinsurance) organizations or insurance holding companies, established by this resolution, using the services of professional securities market participants who have licenses to carry out brokerage and (or) dealer activities or investment portfolio management activities, issued by the authorized body or the authorized body of the country of registration of professional participants in the securities market.

Appendix 8 to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated December 26, 2016 No. 304

List of normative legal acts of the Republic of Kazakhstan, as well as structural elements of some normative legal acts of the Republic of Kazakhstan, recognized as no longer in force

Resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Supervision of the Financial Market and Financial Organizations dated August 22, 2008 No. 131 “On approval of the Instructions on the establishment of prudential standards and other mandatory norms and limits for an insurance (reinsurance) organization and insurance group, including the minimum size of the authorized capital, guarantee fund, solvency margin and deadlines for submitting reports on the implementation of prudential standards" (registered in the Register of State Registration of Normative Legal Acts under No. 5331, published on November 15, 2008 in the Collection of Acts of Central Executive and Other Central State Bodies of the Republic of Kazakhstan No. 11).

2. Resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Supervision of the Financial Market and Financial Organizations dated December 29, 2008 No. 250 “On introducing additions and changes to the Resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Supervision of the Financial Market and Financial Organizations dated August 22, 2008 No. 131 “On approval of the Instructions on standard values and methods for calculating prudential standards of insurance (reinsurance) organization, forms and deadlines for submitting reports on the implementation of prudential standards" (registered in the Register of State Registration of Normative Legal Acts under No. 5536).

3. Resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Supervision of the Financial Market and Financial Organizations dated August 28, 2009 No. 198 “On introducing amendments and additions to the Resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Supervision of the Financial Market and Financial Organizations dated August 22, 2008 No. 131 “On approval of the Instructions on standard values and methods for calculating prudential standards of insurance (reinsurance) organization, forms and deadlines for submitting reports on the implementation of prudential standards" (registered in the Register of State Registration of Normative Legal Acts under No. 5812).

4. Resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Supervision of the Financial Market and Financial Organizations dated November 30, 2009 No. 238 “On introducing amendments and additions to the Resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Supervision of the Financial Market and Financial Organizations dated August 22, 2008 No. 131 “On approval of the Instructions on standard values and methods for calculating prudential standards of insurance (reinsurance) organization, forms and deadlines for submitting reports on the implementation of prudential standards" (registered in the Register of State Registration of Normative Legal Acts under No. 5990).

5. Resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Supervision of the Financial Market and Financial Organizations dated March 1, 2010 No. 22 “On amendments and additions to some regulatory legal acts of the Republic of Kazakhstan on the activities of mutual insurance companies” (registered in the Register of State Registration of Regulatory Legal Acts under No. 6158).

6. Resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Supervision of the Financial Market and Financial Organizations dated September 3, 2010 No. 146 “On introducing additions and changes to the Resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Supervision of the Financial Market and Financial Organizations dated August 22, 2008 No. 131 “On approval of the Instructions on standard values and methods for calculating prudential standards of insurance (reinsurance) organization, forms and deadlines for submitting reports on the implementation of prudential standards" (registered in the Register of State Registration of Normative Legal Acts under No. 6560).

7. Item 6 of the List of regulatory legal acts of the Agency of the Republic of Kazakhstan for Regulation and Supervision of the Financial Market and Financial Organizations, to which changes and additions are made, approved by the Resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Supervision of the Financial Market and Financial Organizations dated November 29, 2010 No. 174 “On amendments and additions to certain regulatory legal acts of the Agency of the Republic of Kazakhstan for Regulation and Supervision of the Financial Market and Financial Organizations” (registered in the Register of State Registration of Normative Legal Acts under No. 6717).

8. Resolution of the Board of the National Bank of the Republic of Kazakhstan dated January 30, 2012 No. 19 “On introducing amendments and additions to the Resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Supervision of the Financial Market and Financial Organizations dated August 22, 2008 No. 131 “On approval of the Instructions on standard values and methods for calculating prudential standards of an insurance (reinsurance) organization, margin adequacy standard solvency of the insurance group, forms and deadlines for submitting reports on the implementation of prudential standards" (registered in the Register of State Registration of Normative Legal Acts under No. 7462, published on May 12, 2012 in the newspaper "Kazakhstanskaya Pravda" No. 136-137 (26955-26956)).

9. Resolution of the Board of the National Bank of the Republic of Kazakhstan dated February 24, 2012 No. 98 “On establishing Requirements for shares (participatory interests in the authorized capital) of legal entities acquired by insurance (reinsurance) organizations, subsidiaries of insurance (reinsurance) organizations or insurance holding companies, as well as a list of bonds of international financial organizations and financial instruments (except for shares and participation interests in the authorized capital) acquired insurance holdings and insurance (reinsurance) organizations" (registered in the Register of State Registration of Normative Legal Acts under No. 7550, published on August 4, 2012 in the newspaper "Kazakhstanskaya Pravda" No. 251-253 (27070-27072)).

10. Item 2 of the List of normative legal acts of the Republic of Kazakhstan, to which amendments and additions are made, approved by Resolution of the Board of the National Bank of the Republic of Kazakhstan dated December 24, 2012 No. 374 “On amendments and additions to some normative legal acts of the Republic of Kazakhstan” (registered in the Register of State Registration of Normative Legal Acts under No. 8271, published on May 4, 2013 in the newspaper "Kazakhstanskaya Pravda" No. 156-157 (27430-27431).

11. Resolution of the Board of the National Bank of the Republic of Kazakhstan dated May 6, 2014 No. 77 “On introducing amendments and additions to the Resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Supervision of the Financial Market and Financial Organizations dated August 22, 2008 No. 131 “On approval of the Instructions on standard values and methods for calculating prudential standards of an insurance (reinsurance) organization, margin adequacy standard solvency of the insurance group, forms and deadlines for submitting reports on the implementation of prudential standards" (registered in the Register of State Registration of Normative Legal Acts under No. 9607, published on August 6, 2014 in the Adilet information and legal system).

12. Clauses 3 and 11 of the List of regulatory legal acts of the Republic of Kazakhstan on issues of the official list of securities of the stock exchange, to which changes are made, approved by Resolution of the Board of the National Bank of the Republic of Kazakhstan dated December 24, 2014 No. 244 “On amendments to some regulatory legal acts of the Republic of Kazakhstan on issues of the official list of securities of the stock exchange” (registered in the Register of State Registration of Regulatory Legal Acts under No. 10339, published on March 18, 2015 in the information and legal system "Adilet").

13. Item 7 of the List of regulatory legal acts of the Republic of Kazakhstan on issues of the financial market and financial organizations, to which changes and additions are made, approved by the Resolution of the Board of the National Bank of the Republic of Kazakhstan dated January 28, 2016 No. 12 “On introducing changes and additions to some regulatory legal acts of the Republic of Kazakhstan on issues of the financial market and financial organizations” (registered in the Register of State Registration of Regulatory Legal Acts under No. 13308, published on March 14, 2016 in the information and legal system "Adilet").

Prudential standards of an insurance (reinsurance) organization

Prudential standards of an insurance (reinsurance) organization

Metadata

Scope and relevance

Official source

Regulatory values ​​and methods for calculating prudential standards of an insurance (reinsurance) company and insurance group and other mandatory norms and limits.

Chapter 1. General provisions

Chapter 2. Minimum amount of authorized capital of an insurance (reinsurance) company

Chapter 3. Solvency margin adequacy standard

Paragraph 1. Calculation of the solvency margin adequacy standard

Paragraph 2. Calculation of the minimum solvency margin for an insurance (reinsurance) company carrying out insurance activities in the “general insurance” industry and a reinsurance company carrying out reinsurance as an exclusive type of activity

Paragraph 3. Calculation of the minimum solvency margin for an insurance (reinsurance) organization carrying out insurance activities in the “life insurance” industry

Paragraph 4. Minimum size of the guarantee fund

Paragraph 5. Calculation of the actual solvency margin of an insurance (reinsurance) company

Chapter 4. Adequacy standard for highly liquid assets

Chapter 5. Asset diversification standards

Chapter 6. Other mandatory norms and limits for insurance (reinsurance) organizations

Paragraph 1. Other mandatory standards for insurance (reinsurance) organizations

Paragraph 2. The amount of the insurance (reinsurance) company’s own deductible under the insurance, reinsurance, co-insurance (joint reinsurance) agreement(s)

Chapter 7. Additional prudential standards

Paragraph 1. Reserve for unforeseen risks

Paragraph 2. Stabilization reserve

Chapter 8. Standard for the adequacy of the solvency margin of an insurance group

Minimum amount of authorized capital of an insurance (reinsurance) company

Comparison table of long-term ratings

Table of increasing the minimum solvency margin from insurance premiums transferred (transferred) to reinsurance

Table of increase in the minimum solvency margin based on the volume of obligations transferred (transferred) to reinsurance

Table of assets of an insurance (reinsurance) company, taking into account their classification by quality and liquidity

Table of highly liquid assets of an insurance (reinsurance) company

Additional information for calculating indicators of prudential standards and other mandatory norms, and limits of an insurance (reinsurance) company as of "____" _____20

List, forms, deadlines for submitting reports on compliance with prudential standards by insurance (reinsurance) organizations and insurance groups

Rules for reporting on compliance with prudential standards by insurance (reinsurance) organizations and insurance groups

Requirements for shares (stakes in the authorized capital) of legal entities acquired by insurance (reinsurance) organizations, subsidiaries of insurance (reinsurance) organizations or insurance holding companies

List of bonds of international financial organizations purchased by insurance holding companies

Minimum required rating for bonds purchased by insurance holding companies and list of rating agencies

List of financial instruments (except for shares and participation interests in the authorized capital) purchased by insurance (reinsurance) organizations

List of normative legal acts of the Republic of Kazakhstan, as well as structural elements of some normative legal acts of the Republic of Kazakhstan, recognized as no longer in force

Regulatory values and methods for calculating prudential standards of an insurance (reinsurance) company and insurance group and other mandatory norms and limits.

Additional information for calculating indicators of prudential standards and other mandatory norms, and limits of an insurance (reinsurance) company as of "" _20