Article 23. The name of the insurance (reinsurance) organization of the Insurance Law

Home / RLA / Article 23. The name of the insurance (reinsurance) organization of the Insurance Law

1. An insurance (reinsurance) organization uses as its name the one that is written in its charter.

2. The full name of an insurance company operating in the general insurance industry must necessarily contain the word "insurance" or a word derived from it.

2-1. The full name of an Islamic insurance organization operating in the general insurance industry must necessarily contain the words "Islamic insurance" or words derived from them.

3. The full name of an insurance company operating in the life insurance industry must necessarily contain the words "life insurance" or words derived from them.

3-1. The full name of an Islamic insurance organization operating in the life insurance industry must necessarily contain the words "Islamic" and "life insurance" or words derived from them.

4. The full name of a reinsurance organization operating exclusively on reinsurance must necessarily contain the word "reinsurance" or a word derived from it.

4-1. The full name of an Islamic reinsurance organization that carries out activities exclusively for the conclusion and execution of Islamic reinsurance contracts must necessarily contain the words "Islamic" and "reinsurance" or words derived from them.

5. An insurance (reinsurance) organization is prohibited from using the words "national", "central", "budgetary", "republican", "state" in full or abbreviated form in any language in its name, with the exception of an insurance organization that, in accordance with the legislation of the Republic of Kazakhstan, has the status of a national company.

6. It is not allowed to use designations that are identical or confusingly similar to the names of previously established insurance (reinsurance) organizations, including insurance (reinsurance) organizations that are non-residents of the Republic of Kazakhstan. This prohibition does not apply to a subsidiary insurance (reinsurance) organization if it uses the name of the parent organization.

7. A branch of a non-resident insurance (reinsurance) organization of the Republic of Kazakhstan uses as its name the one indicated in the regulations on the branch of a non-resident insurance (reinsurance) organization of the Republic of Kazakhstan.

A branch of a non-resident insurance (reinsurance) organization of the Republic of Kazakhstan must use the name of the non-resident insurance (reinsurance) organization of the Republic of Kazakhstan in its name, as well as the word "branch".

The Law of the Republic of Kazakhstan dated December 18, 2000 No. 126.

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Republic of Kazakhstan

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