Article 74. Financial and other reporting Chapter 13. Reporting and other issues of the Insurance Law

Home / RLA / Article 74. Financial and other reporting Chapter 13. Reporting and other issues of the Insurance Law

 1. An insurance (reinsurance) organization and an insurance broker keep records of their transactions in accordance with international financial reporting standards and the legislation of the Republic of Kazakhstan on accounting and financial reporting.

1-1. An insurance (reinsurance) organization and an insurance broker are required to submit reliable and complete financial and other reports to the National Bank in a timely manner.

A branch of a non-resident insurance (reinsurance) organization of the Republic of Kazakhstan and a branch of a non-resident insurance broker of the Republic of Kazakhstan are required to promptly submit reliable and complete accounting and other reports to the National Bank.

IZPI's note! Paragraph 2 is provided for in the wording of the Law of the Republic of Kazakhstan dated 30.06.2025 No. 205-VIII (effective sixty calendar days after the date of its first official publication).

2. Insurance (reinsurance) organizations and insurance brokers submit financial and other statements, including financial and other statements on a consolidated basis, to the National Bank in accordance with the regulatory legal acts of the National Bank.

Branches of a non–resident insurance (reinsurance) organization of the Republic of Kazakhstan and branches of a non–resident insurance broker of the Republic of Kazakhstan submit accounting reports and other reports to the National Bank in accordance with the regulatory legal acts of the National Bank.

2-1. Excluded by the Law of the Republic of Kazakhstan dated 05.07.2012 No. 30-V (effective after ten calendar days after its first official publication).

3. An insurance (reinsurance) organization and an insurance broker are required to provide the authorized body, upon request, with information about their property, including those located outside the Republic of Kazakhstan, on the amount of risks assumed, guarantees and guarantees provided, on insurance and reinsurance transactions made and ongoing, information on participation in the authorized capitals of legal entities, including information constituting an insurance secret for the purpose of exercising its control and supervisory functions.

3-1. The authorized body has the right to require an adjustment of reporting based on accounting data and other reporting of a branch of an insurance (reinsurance) organization that is a non-resident of the Republic of Kazakhstan, a branch of an insurance broker that is a non-resident of the Republic of Kazakhstan in case they submit unreliable (incomplete) reporting.

4. Excluded by the Law of the Republic of Kazakhstan dated 07/15/2010 No. 338-IV (for the procedure of entry into force, see art. 2).

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

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