Azerbaijan, Baku, Dec.13 / Trend , corr. U.Ismayilova /Azerbaijani Finance Ministry has approved the form of prudential norms of supervision and accountability in insurance activity.
The indicated below reports must be represented on quarterly and yearly basis:
- the format of the bookkeeping balance of insurer
(overcautious person) and of insurance broker;
- report on profits and losses, insurance agreements, insurance rewards and
payments, calculated by insurance and reinsurance agreements;
- on insurance payments and rewards on reinsurance on reinsurance operations,
reinsurance rewards on reinsurance risks of insurer (overcautious person).
Also on quarterly and yearly basis it must be represented format:
- insurance payments on compulsory insurance of civil
liability of owners of vehicles;
- rewards on recovered insurance (reinsurance), rewards by insurance
(reinsurance) agreements with government enterprises;
- expenditures on performing of work;
- on required reserves of additional financing,
- commission for insurance mediators accepted;
- report on the activity of insurance brokers;
- report on the activity of persons (shareholders), who participate in
regulation capital of insurer (overcautious person).
The form of timed report on insurance (reinsurance) operations must be represented on monthly, quarterly and annual basis.
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