Adoption of reporting of insurance institutions to the international standards

On April 2, 2021, at the initiative of the Insurance Supervision Management, it was hosted a presentation “Procedures for calculating the normative ratio of equity (capital) and assumed liabilities by the insurance (reinsurance) company” the NBT, where the participants - chief accountants and responsible persons of the country's insurance institutions were instructed on the provision of reports in accordance with this procedure.

These Procedures were approved by the Resolution of Board of the NBT dated from October 9, 2020, No.135 and registered with the Ministry of Justice of the Republic of Tajikistan dated November 11, 2020, No. 1042.

It is the first document developed in the field of insurance that regulates the movement of equity capital of insurance institutions on the insurance market in accordance with international standards.

The document was developed with the aim of ensuring an acceptable level of liquidity and financial stability of insurance institutions and can contribute to the correct placement of assets, prevention of unjustified expenses and money laundering through insurance institutions, a growth of capital of insurance sector in the real sector of national economy and increase of public confidence in the insurance services.

Then other topical issues were discussed with representatives of insurance institutions.