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Financial and capital market Commission, the provisions of regulations No 109 in Riga in 2008 (25 July. No 30 p. 3)
"The amendments to the insurance company, mutual insurance cooperatives and insurers Affiliate Member annual report and the consolidated annual report rules ' Issued in accordance with the insurance companies and supervision article 49 of the law on the first, second and third subparagraph and article 49 of the law on Reinsurance to make financial and capital market Commission 13.01.2006. Regulation No 21" insurance company, mutual insurance cooperatives and insurers Affiliate Member annual report and the consolidated annual report for the preparation of the rules "(hereinafter-the rules) the following amendments : 1. Express provisions of title as follows: "insurance company, insurer of the Member not affiliate, reinsurance and the reinsurers Affiliate Member annual report and the consolidated annual report of the legislative provisions".
2. To make provision for the picking grounds by the following: "Issued in accordance with the insurance companies and supervision article 49 of the law on the first, second and third subparagraph and article 49 of the law on Reinsurance".
3. paragraph 1 shall be expressed by the following: "1." insurance company, insurer of the Member not affiliate, reinsurance and the reinsurers Affiliate Member annual report and the consolidated annual report of the legislative provisions "(hereinafter-the rules) are binding on the insurance companies and affiliates of the Member insurer that operates in accordance with the insurance companies and the supervisory law and reinsurance undertakings and reinsurers, branches of the Member States, acting in accordance with the reinsurance Act (hereinafter insurer) When preparing the annual accounts, consolidated accounts and the accounts of the sort. "
4. Make the following point 2.3: "2.3. notification of the insurer (the parent company of the group management) responsibility."
5. Add to paragraph 3 to the sixth sentence the following wording: "With insurance related financial statements (consolidated financial statements) for the assessment of items, which is not defined in international financial reporting standards, the requirements of this regulation."
6. turn off point 8.
7. Turn off the chapter II.
8. Express 18.104.22.168.2. point as follows: "22.214.171.124.2. customers from reinsurance, ceded reinsurance and retrocession operations".
9. Make the following paragraph 18.1.13: "Ceded the 18.1.13. reinsurance and retrocession contracts."
10. Make the following paragraphs 18.3.1:18.3.1. Insurance and reinsurance obligations ".
11. Express 126.96.36.199.2. point as follows: "188.8.131.52.2. reinsurance ceded from the vendor, in respect of reinsurance and retrocession operations".
12. Express points 24 and 25 as follows: "24. The item" held for trading financial assets "reflecting their share of the estimated fair value of financial assets with the presentation of the income statement, which under international accounting standard 39. in particular, the insurer is classified as held for trading financial assets such as debt instruments, equity instruments. Derivative financial instruments are often held for trading, except those used for the non-trading portfolio assets to limit the risks.
25. The item "classified as fair value financial assets evaluated the presentation of profit and loss statement" reflects the portion of the fair value of financial assets with an estimated coverage of profit or loss, which under international accounting standard 39. in particular, the insurer shall be classified as classified as fair value financial assets estimated by the presentation of the income statement, such as debt and equity instruments. "
13. off 26.
14. Express 27 the following: "item" 27. Held-to-maturity investments "reflects the market has traded debt instruments and other financial investments with a fixed maturity, as well as term deposits with credit institutions which are in accordance with international accounting standard 39. down the insurer are classified as held-to-maturity investment."
15. off the last sentence of paragraph 29.
16. Make the paragraph 32 as follows: "32. The item" Receivables from reinsurance, ceded reinsurance and retrocession operations, "reflects the insurer's claims against reinsurers arising from reinsurance, ceded reinsurance and retrocession operations, as well as claims against the reinsurance intermediaries if they have been nominated under reinsurance or brokerage agreement. If the insurer carried out both at the same time, both the ceded reinsurance in reinsurance and retrocession, the attachment of the customer requirements shall be shown separately. "
17. Make the first sentence of paragraph 33, as follows: "item" deposits "ceding insurer, to which reinsurance risks reflects the contributions as a guarantee deposit, which are deposited with ceding undertakings or to third parties, if the reinsurance treaty provides for this procedure."
18. Make 35 the following:
"35. The item" deferred acquisition costs "reflects their customer acquisition expense part of the conclusion of the insurance contract the associated customer acquisition costs, such as insurance intermediaries in the payment of commissions and expenses for the presentation of documents relating to the next financial year. Non-life insurance, calculating how much each contract associated with customer acquisition costs relate to the deferred client acquisition costs, a proportion of which types of unearned premiums, of the technical reserves ratio of gross premiums written with each insurance contract. If the life insurance technical reserves is included in the calculation of the customer acquisition costs, it is written off in accordance with Cilmerizācij of the editions or in proportion to the duration of the contract, but for not more than five years, reflecting the outstanding part of this item. This calculation needs life insurance mathematically calculated the amount of the technical reserves may not be reduced on certain insurance contracts the adverse mathematical provisions. The insurer which reinsurance, this item reflects the portion of reinsurance commissions relating to the next financial year, in accordance with the calculation referred to in this paragraph. "
19. Turn off the last sentence of paragraph 36.
20. Express 38 as follows: "38. The item" Ceded reinsurance and retrocession agreements "reflect, in accordance with the procedure approved by the management of the insurer to the reinsurer's share of the estimated provision for unearned premiums, for outstanding claims and life insurance technical provisions, subject to the provisions approved by the Commission for the establishment of technical provisions and the procedure for calculating the requirements."
21. Make 52 as follows: "item" 52. Held for trading financial liabilities "reflects the financial obligations arising out of the held for trading financial derivatives, short positions in other company equity instruments and debt instruments, and other obligations of the insurer under 39. International Accounting classified as specified in satndart held for trading financial liabilities."
22. Make 53 by the following: "53. The item" deposits of reinsurers ' insurer reflects the ceded reinsurance and retrocession contract deposits received from reinsurers or the amounts withheld. If the insurer has received as a deposit financial instruments, which are passed to the property of this item reflects the obligations of the insurer for the deposit to the extent specified in the agreement. "
23. Make 57 as follows: 57. "under" accounts payable from reinsurance, ceded reinsurance and retrocession operations, "reflects the obligations of the insurer against the reinsurers arising from ceded reinsurance, the retrocession and reinsurance operations, as well as obligations to reinsurance intermediaries if they formed under reinsurance or brokerage agreement. If one has concluded a number of reinsurers, reinsurance contracts is not acceptable mutual reinsurance transaction account closing balance (balance) calculation, except when it is provided in a reinsurance contract. If the insurer carried out both at the same time, both the ceded reinsurance in reinsurance and retrocession, the annex reflects the breakdown of commitments. "
24. in paragraph 61 of the expression as follows: 61. "under" accrued expenses and deferred income "reflects the income that is received by the insurer before the end of the reporting year, but relating to the next financial year, as well as the costs relating to the financial year and for earlier years, but the date for payment of the balance sheet date are not yet joined, except that in accordance with international financial reporting standards include the fixed financial obligations at fair value or amortized acquisition costs. This item reflects, for example, the accrued rent expenses and unearned ceded reinsurance and retrocession of commissions. Unearned reinsurance reinsurance and retrocession of commissions scrapped income in proportion to the insurance, reinsurance and retrocession contract of reinsurance transactions. "
25. Express 62.8.4. point as follows: "62.8.4. reinsurance and retrocession Reinsurance commissions and participation in profits (-)".
26. Express the point following 62.13:62.13. Net realized profit/loss from the acquisition value of the amortized rate financial assets and financial liabilities ".
27. To supplement the provisions under paragraph 62.13.1 as follows: "62.13.1 the net realized gains/losses on available for sale financial assets".
28. Make 62.19.2 readkcij in this paragraph: "62.19.2. in respect of reinsurance and retrocession Reinsurance contract in the value of the loss".
29. Make 63 the first sentence as follows: "under" gross premiums written "reflects all the reference year signed insurance premiums on contracts under international financial reporting standards defined in the insurer's classification as insurance contracts, which have entered into force during the reference year, regardless of whether or not the premiums received."
30. Make paragraph follows 39.2:39.2. short-term insurance contracts in non-life and life insurance ".
31. Express readkcij in the following paragraph 63.5 "63.5. reinsurance premiums pursuant to paragraph 39.2-63.4 conditions;".
32. paragraph 63.6.2 be expressed as follows: "63.6.2. cancelled and terminated the insurance premium amounts."
33. Make 65. paragraph by the following:
65. The item "Reinsurers ' share in premium reflects the" signed the reinsurance premiums in accordance with the reference year concluded the ceded reinsurance and retrocession contracts. If under of ceded reinsurance contract of reinsurance premiums shall be payable in advance (minimum deposit and bonus), reinsurance premiums in proportion to the ceded reinsurance contract period. The amount of such reinsurance premiums shall not be less than the ceded reinsurance treaty reinsurance premiums correct that would have become payable, in the light of the signed insurance premiums. Reinsurance premiums part of the accounting year is not applied to this item reflects balances 184.108.40.206. active item. Reinsurers share in premiums reduced signed on that part of the premium on the expiry of the term of the contract of reinsurance, the reinsurer shall repay the transferor, as well as before the end of the ongoing reinsurance premiums. "
34. To turn off the second sentence of paragraph 68.
35. Make 74, second sentence as follows: "If the insurer reinsurance risks, that this item reflects the reinsurance commissions the transferor."
36. To make 76. the first sentence as follows: "under" administrative expenses "reflect the General administrative costs, formed by charging insurance premiums, making insurance contract administration, reinsurance, ceded reinsurance and retrocession, the t.sk. staff remuneration, social security costs, as well as mission expenses, payments to Auditors, consultants, the Commission, the insured and the insurer to the Foundation of protection Association. "
37. Make 77. paragraph by the following: "item" in 77. reinsurance and retrocession Reinsurance commissions and participation in profits "reflects the ceded reinsurance and retrocession of the commissions due from reinsurers. Here also reflect the insurer due to the Commission on the participation of reinsurer's profit. Here represents the item reflected in 18.3.7 earned the ceded reinsurance and retrocession Commission changes during the year. "
38. off 78, second sentence.
39. Make 82 as follows: "82. The item" Net realized profit/loss from the acquisition value of the amortized rate financial assets and financial liabilities "represents the profit/loss from the held-to-maturity investments and other amortized acquisition value prized financial assets sales or other forms of removal from the balance sheet, as well as amortized value of acquisition of a prized investment contracts financial liabilities and other financial obligations."
40. To supplement the provisions of the following paragraph 82.1: "82.1 Net realized the item" profit/loss on available for sale financial assets "reflects the previous reporting periods balance sheet item ' revaluation reserve ' reflected in gains/losses on available-for-sale financial assets fair value, if available-for-sale financial assets are sold or otherwise excluded from the balance."
41. paragraph 88 of the following expressions: "88. The item" impairment losses "reflect amortized acquisition value assessed in the held-to-maturity investments and other financial assets, which are valued at fair value through profit or loss, the impairment losses and ceded reinsurance and retrocession contract impairment losses reduced by previous periods recognised impairment losses reverse amounts. This item shall also, tangible assets land and buildings of the same activity, investment property, goodwill and intangible assets impairment losses reduced by previous periods recognised impairment losses reverse. "
42. Make 93.1.5 93.1.6., 93.1.7., and 93.1.8. the point as follows: "93.1.5. Cash received for ceded reinsurance and retrocession of the 93.1.6. (paid) for the ceded reinsurance and retrocession of 93.1.7. Cash received on reinsurance 93.1.8. (paid) money on reinsurance".
43. the express 94. paragraph by the following: "94. Cash flow statement reflects the cash and its equivalent income and charges in the year, dividing them as cash flows from insurance activities, investment activities and financing activities in accordance with international accounting standard 7."
44. off 98., 99, 101, 100, 102, 103, 104, 105., 106, 107, 108, 109, 110 and 111...
45. paragraph 127.1.11 be expressed as follows: "27.1.11. insurance used to hedge risk management policies, information on insurance risk concentration and information on the interest and credit risk arising from ceded reinsurance and retrocession contracts;".
46. Express point following 131.1:131.1. the following income statement figures for non-life insurance, broken down between direct insurance and reinsurance (if reinsurance accounts for 10 percent or more of gross premiums written premiums): ".
47. Make paragraph follows 131.2:131.2. the following income statement figures for life insurance, broken down between direct insurance and reinsurance (if reinsurance accounts for 10 percent or more of gross premiums written premiums): ".
48. Make a point following 131.3:131.3. profit or loss calculation result in reinsurance and retrocession reinsurance. "
49. in paragraph 132 of the expression as follows: "annex 132. profit or loss of the non-life insurance distribution between direct insurance and reinsurance, taking into account the conditions of paragraph 131.1 reflects such allocation".
50. To supplement the provisions of the following paragraph 138.1:
"138.1 provides information about each agreement not included in the balance sheet, indicating its nature, objectives and financial impact, if such agreement related risks or benefits is essential and if information about such risks or benefits is necessary to assess the financial position of the insurer."
51. To supplement the provisions of Chapter XV "final questions" with 148 points as follows: "the amendments to these provisions 148. Chapter II of the Act, come into force on July 1, 2008 and is applicable to the insurer when submitting and publishing the annual report (consolidated accounts), starting with the year 2008."
52. To supplement the rules with the informative reference to European Union directives as follows: "the provisions included in the law arising from: 1) of the Council of 19 December 1991, the directive on the annual accounts and consolidated accounts of insurance undertakings 91/674/EEC based on article 54 of the Treaty, paragraph 3 of the" g "and refers to the annual and consolidated accounts;
2) of the European Parliament and of the Council of 18 June 2003 of Directive 2003/51/EC in respect of certain types of companies, banks and other financial institutions and insurance undertakings annual and consolidated accounts, amending Directives 78/660/EEC, 83/349/EEC, 86/635/EEC and 91/674/EEC;
3) of the European Parliament and of the Council of 14 June 2006, Directive 2006/46/EC, amending Council Directives 78/660/EEC concerning the annual accounts of certain types of companies, 83/349/EEC concerning consolidated accounts, 86/635/EEC on banks and other financial institutions the annual accounts and consolidated accounts and 91/674/EEC on the annual accounts and consolidated accounts of insurance undertakings. '
Financial and capital market Commission of Krūman I.
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