Regulation Of The Minister Of Finance Of 28 December 2009 On Specific Accounting Policies Of Insurance And Reinsurance

Original Language Title: ROZPORZĄDZENIE MINISTRA FINANSÓW z dnia 28 grudnia 2009 r. w sprawie szczególnych zasad rachunkowości zakładów ubezpieczeń i zakładów reasekuracji

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On the basis of article. 81 paragraphs 1 and 2. 2, point 6 (a). (a) the Act of 29 September 1994 on accounting (OJ of 2009 # 152, item 1223, No 157, item 1241 and # 165, item 1316) are managed as follows: Chapter 1 General provisions § 1. [Range] The regulation lays down specific rules on the accounting of insurance and reinsurance, including: 1) the creation of insurance technical reserves;

2) the scope of the information carried in the notes, the rules for consolidated financial statements of capital groups, including the scope of information included in the consolidated financial statements of capital groups and activity reports.

§ 2. 1. in Regulation shall mean: 1) Act – the Act of 29 September 1994 on accounting;

2) Act on insurance business-law of 22 May 2003 on business insurance (OJ No 124, item 1151, as amended. 3));

3) Division and section I of the annex to the law on insurance business;

4) Division II section II of the annex to the law on insurance business;

5) the transferor – the insurance or reinsurance undertaking, referred to in article 1. 2. 1 paragraph 1a of the law on insurance business;

6) reinsurer – insurance or reinsurance undertaking performing the reinsurance activities referred to in article 1. 3 paragraphs 1 and 2. 1A the insurance business Act;

7) an insurance contract is a contract and the contract guarantee insurance;

8) reinsurance-reinsurance and retrocession;

9 reinsurance reinsurance contract-agreement) and the agreement of retrocession;

10) active reinsurance-reinsurance and retrocession active;

11) the contract of reinsurance and reinsurance contract active contract of retrocession active;

12) reinsurance passive – passive reinsurance and retrocession passive;

13) the contract of reinsurance reinsurance agreement and a passive-passive retrocession passive;

14) koasekurator leading – the insurance company selected out of the participants in the agreement for the implementation of co-insurance operations referred to in this agreement on behalf of yourself and the rest of the koasekuratorów;

15) premiums-the amount of contributions: a) in respect of insurance contracts due in the reporting period, regardless of whether those amounts paid, in the case of groups of the Department and, b) due for the entire period of responsibility, regardless of its length, with the title contained in the reporting period, contracts of insurance, regardless of whether those amounts paid, in the case of groups of section II, as far as the length of the period of liability is determined , (c)) in respect of contracts of insurance, payable in the reporting period, regardless of whether those amounts paid, in the case of groups of section II, as far as the length of the period is not specified, d) in respect of reinsurance contracts active – apply the amount referred to in point (a). and (c), subject to the provisions of the relevant reinsurance contracts;

16) premium earned – the contribution assigned during the reporting period, minus the State premiums at the end of the reporting period plus the status of reserve contributions at the beginning of the reporting period;

17) gross premiums, gross premiums written, gross earned premiums, compensation and benefits, other income, other technical charges, gross technical provisions, claims ratio, respectively, gross positions before taking into account the reinsurance balance;

18) contributions to the participation of its own, for its own share of premiums written, premiums earned for own share, compensation and benefits, share other income on the net amount, other technical costs, technical provisions-insurance participation of own positions respectively after taking into account the reinsurance balance;

19) acquisition costs – the costs related to the conclusion and renewal of contracts of insurance and reinsurance contracts covering: a) the direct costs, including:-commissions of insurance intermediaries-salary along with Yo personnel acquisition, the cost of physical examinations, – the cost of certification and expertise in assessing risk, costs of issuing the insurance policies, the costs include the insurance contract to the portfolio insurance, costs include a reinsurance contract for reinsurance portfolio – commissions and profit sharing ceding undertakings , b) indirect costs, including: – the costs of advertising and promotion insurance products – general expenses associated with the examination of applications and the issuance of insurance policies;

20) the costs of settling claims and recovery of recourses – direct and indirect costs associated with the performance of the activities referred to in article 1. 3 paragraphs 1 and 2. 1A, point 2 and 4, paragraph 1. 3 paragraph 2, paragraph 1. 4 paragraphs 2, 3 and 5 and paragraph 1. 5 (1) and (2) of the law on insurance business, including: wages along with Yo, the costs of expert opinions and approvals relating to the assessment of the damage, the injury elimination process support costs, the payment of compensation, recourse proceedings and debt collection;

21) the costs of the charges-internal and external costs arising from insurance or reinsurance charges, including investment management charges, bank fees, commissions, brokerage offices and depreciation and maintenance costs of real estate, with the exception of depreciation and maintenance costs for property used for their own needs;

22) administrative costs – the costs of the business of insurance or reinsurance business failed to acquisition costs, compensation and benefits, the cost of settling claims and recovery of recourses or expense charges, associated with the collection of premiums, insurance portfolio management, portfolio management of reinsurance contracts and the General management of an insurance undertaking or a reinsurance undertaking, including depreciation and maintenance offices and property used for their own purposes, postal and telecommunications costs , services rendered, energy costs, materials, depreciation of tangible assets and intangible assets, including bedspreads, travel expenses and the cost of advertising, with the exception of advertising costs associated with the insurance product; in administrative costs not recognised the costs associated with the performance of the activities referred to in article 1. 3 paragraphs 1 and 2. 7 and 8 of the law on insurance business-these costs are recognised in other operating costs;

23) rate-the interest rate used in the calculation: a) insurance technical reserves in life insurance and reinsurance Department, Insurance Department and, (b)) in the value of the remaining section of rent in capitalised insurance and property insurance and reinsurance undertaking insurance chapter II;

24) the sum of equity capital, subject to paragraph 2. 2: a) for life insurance sum insured, b) for insurance, where the benefit is payable at the end of the period of insurance is the sum insured in the amount paid at the end of the period of insurance, c) for deferred annuities-capitalised value of the pension at the start of the annuity payments, d) for insurance with the insurance capital fund not listed before greater values:-the sum insured in the event of death, the value of the units resulting from the contract of insurance , plus the sum of the contributions to be paid by the end of the duration of the insurance contract, but no longer than up to 75 years of age of the insured person;

25) claims ratio-the ratio of compensation and benefits, taking into account the change in the provision for outstanding claims and benefits to premiums earned; When calculating the indicator takes into account the costs of settling claims, the cost of recovery of the costs incurred and recourses for the grant, as well as regresy, recoveries and donations received;

26) class accounts, in the case of: (a)) Department and including all groups.

(b)) Department II – the following class accounts:-01 the consequences of accidents and sickness (1 and 2), 02-communication-liability (Group of 10)-03-communication (Group 3),-04 marine, aviation and transport (4, 5, 6, 7),-05 fire and other damage to property (8 and 9), – 06 civil liability (11, 12, 13), – 07 credit and guarantees (14, 15) ,-08 assistance (group 18),-09 legal protection (Group 17) – 10 (Group 16);

27) the parent undertaking, subsidiary, an współzależna, an associate, an entity subordinate to, the units associated with the respective unit within the meaning of article 3. 3 paragraphs 1 and 2. 1 paragraph 37 and paragraphs 39 to 43 of the Act;

28) group is a holding company within the meaning of article 3. 3 paragraphs 1 and 2. 1, paragraph 44 of the Act;

29) related parties – related parties within the meaning of paragraph 1. 4 point 2 of the additional information and explanations of annex 1 to this Act;


30) shares, financial assets, the adjusted purchase price, financial assets held for trading, loans and receivables own, financial assets held-to-maturity, available-for-sale financial assets, fair value – the terms referred to in article 1. 3 paragraphs 1 and 2. 1 paragraph 4, art. 3 paragraphs 1 and 2. 1 paragraph 24, art. 28 paragraph 1. 8A Act, § 6-9 and § 15 of the regulation of the Minister of Finance of 12 December 2001 on detailed rules for the recognition, valuation methods, the scope of the disclosure and presentation of financial instruments (OJ No 149.1674, 2004 # 31, item 266, 2005 No. 256, item 2146 and 2008 No 228, item 1508);

31) the main branch and the branch of a foreign insurance undertaking, the main branch and the branch of the foreign reinsurance, respectively the main branch and the branch within the meaning of article 3. 2. 1 paragraphs 3 and 6 of the law on insurance business;

32) the native-insurance undertaking or reinsurance undertaking, which is the main place of business within the meaning of the Act of 2 July 2004, the freedom of economic activity (Journal of laws of 2007, # 155, item 1095, as amended. 4));

33) deposits available funds of the insurance undertaking-insurance undertaking investments are not considered by the head of the unit for deposits which cover the technical provisions;

34) deposits free money reinsurance-reinsurance placements are not considered by the head of the unit for deposits which cover the technical provisions;

35) the cost of compensation and benefits shall be determined for the calendar year of the injury for the purposes of enumeration estimate referred to in § 37 para. 1-compensation and benefits paid gross plus the status of reserves for outstanding claims and claims incurred to the balance sheet date; in determining the cost of compensation and benefits, account shall be taken of the costs of settling claims, and no account shall be taken of the recourses and recoveries and cost recovery associated with them, and grants and the costs incurred in order to obtain them;

36) grant is a special grant received by the insurance company to cover part of the compensation due to agricultural producers for damage caused by the drought in the meaning of the Act of 7 July 2005 on insurance of agricultural crops and farm animals (OJ No 150, item. 1249, as amended. 5));

37) the costs incurred in order to obtain grant-costs related to the preparation grant application and the grant settlement and, in particular wage along with Yo, cost of services, the costs of the preparation of the reports on settlement of the grant, as well as the costs incurred in connection with the adaptation of information systems, necessary for the correct use of the grant;

38) group and types of insurance – group and types of insurance referred to in article 1. 4 of the law on insurance business;

39) balance with the active contribution of reinsurance the reinsurance – with assigned Active less compensation and benefits paid to reinsurance, bonuses and rebates paid to the cedentom and commissions and shares in the profits of ceding undertakings;

40) balance settlement with passive reinsurance-premium on participation of reinsurer, minus compensation and benefits paid to the participation of reinsurer, bonuses and rebates paid to the participation of reinsurer and reinsurance commissions and shares in the profits of the reinsurer.

2. For all cases referred to in paragraph 1. 1 paragraph 24 shall not be awarded a bonus. In the insurance contracts referred to in paragraph 1. 1, point 24, in which the period of payment of contributions is less than the duration of the insurance contract, the sum of capital means the value of the mathematical reserves for the risk of death or survival calculated at the end of the period of payment of contributions.

§ 3. 1. The provisions of the regulation concerning life assurance (groups 1-5 chapter I) shall also apply to insurance included in groups 1, 2, 10-13 Chapter II, taking into account existing differences resulting from these creatures.

2. In the case of contracts of insurance falling within chapter II there will be benefits paid periodically in the form of rent, provision for the capitalised value of the pension is determined using actuarial methods as provided for for life insurance (groups 1-5 chapter I) in accordance with § 42.

§ 4. The main offices and branches of foreign insurance companies, as well as the main offices and branches of foreign reinsurance undertakings shall apply the accounting rules set out by the parent, unless they are contrary to the provisions of the Act.



Chapter 2 Keeping the accounts of the insurance and reinsurance undertaking insurance and reinsurance documentation § 5. [Accounts] 1. The accounts of the insurance and reinsurance accounts are carried out in accordance with the provisions of the Act.

2. In the case of the exercise of the activity in the Group 3 section and created from insurance premiums and invested in the manner specified in the insurance contract the insurance capital funds assets subject to divestiture.

3. The insurance company records to date, in particular: 1) in the framework of the activity of the business of insurance: (a)) that the insurance contract, b) reported damage, c) regresy and recoveries in respect of contracts of insurance, d) insurance capital funds;

2) within the framework of the activity of reinsurance contracts active reinsurance;

3) within the framework of the activity of insurance or reinsurance activities included reinsurance contract.

4. The reinsurance records on a regular basis, in particular: 1) that active reinsurance contract;

2) concluded a reinsurance contract.

5. Insurance and reinsurance updates, with the possibility of verification of previously made recordings, books of account and records at least at the end of each month.

6. The main branches of foreign insurance companies are required to keep records referred to in paragraph 1. 3.7. Branches of foreign insurance undertakings are exempted from the obligation to keep records referred to in paragraph 1. 3, provided that the provisions in force in the country of the parent company on a foreign insurance undertaking the obligation to collect information at least to the extent specified in the regulation.

8. The main branches of foreign reinsurance undertakings are required to keep records referred to in paragraph 1. 4.9. Branches of foreign reinsurance undertakings are exempted from the obligation to keep records referred to in paragraph 1. 4, provided that the provisions in force in the country of the parent company require foreign reinsurance obligation to collect information at least to the extent specified in the regulation.

§ 6. 1. the register concluded insurance contracts should be carried out in such a way that getting on the contract for the insurance of at least the following information: 1) group and the type of insurance that the insurance contract concerned;

2) the identity of the insurance contract (policy number, the date of registration of the policy, the policy issue date, date of conclusion of the contract);

3) the identity of the policyholder, in the case of individual agreements and also the identity of the insured and of the beneficiaries of the insurance contract;

4) the identity of the insurance intermediary, if the insurance contract is concluded through it;

5) period of insurance, the premium payable, or its method of calculation and the sum insured or the amount of cover, in case the insurance contracts with the insurance capital fund-the value of the Fund units or funds of the remedies available to the insured person.

2. That agreement co-insurance should be extracted in the registry and contain the identity of the koasekuratora.

3. In the case of co-insurance due data contributions and the sum insured or the sum of the guarantee referred to in paragraph 1. 1, paragraph 5, shall be registered in part attributable to the insurance company and, in the case of joint and several liability of the plant in addition to data on the total amount of the premiums and the full extent of liability arising from the contract.

4. in the case of insurance covered by the General agreements, referred to in § 7 para. 2, paragraph 3, can apply cumulative registration of insurance contracts, provided records of the information referred to in paragraph 1. 1 for each policyholder separately and in addition to personally determine the scope of the liability of the insurance undertaking.

5. in the case of group insurance contracts the data referred to in paragraph 1. 1, paragraph 5, shall be registered in the values for each insured person.

§ 7. 1. The basis of the records of premiums written is a copy of the insurance policy or other evidence of the conclusion of the insurance contract, including the annexes to contracts of insurance containing the calculation of contributions, hereinafter referred to as "insurance documents". Insurance documents shall specify at least the following: the parties to the contract of insurance, liability insurance, insurance period, the amount of insurance or the guarantee and the amount of the contributions payable.

2. Cumulative insurance documents may apply: 1) where a document of insurance is issued upon payment of all contributions;


2) in settlements with the insurance intermediaries-for each intermediary separately;

3) in settlements with policy holders of insurance covered by contracts General – for each policyholder separately.

3. Cumulative insurance documents shall be drawn up according to the groups and types of insurance.

4. The policy or other evidence of the conclusion of the insurance contract, together with all attachments and additional documents relating to the insurance contract be exposed in a chronological, preventing their double registration.

5. unused prints of policies and other forms of strict for all confirming the conclusion of a contract insurance inventory at least once a year, and any differences in the number of these printed clearly in the same fiscal year.

6. Records of premiums written should be carried out in a manner that allows the identification of the insurance contract, which contribution applies.

§ 8. The registry contained active reinsurance contracts should be carried out in such a way as to obtain at least the following information: 1) data identifying the reinsurance agreement (type of contract, contract number);

2) data identifying the assignor and identification data broker, if the contract is concluded through it;

3) the date of registration of a reinsurance contract, date of entry into force of the agreement and the period of validity of the contract;

4) groups and types of insurance covered by the agreement;

5) data to determine the participation and responsibility of the insurance undertaking or of the reinsurance undertaking in a reinsurance contract active;

6) personally identifiable data at the balance sheet date, the balance of accounts with each of the assignor with a reinsurance contract.

§ 9. The register concluded reinsurance contracts reactive should be carried out in such a way as to obtain at least the following information: 1) the terms of a reinsurance contract reactive and contract number, if any;

2) data identifying the reinsurers and their shares in the assignment and identification data broker, if the contract is concluded through it;

3) the date of registration of the reinsurance contract reactive, the date of entry into force of the agreement and the period of validity of the contract;

4) groups and types of insurance covered by the contract of reinsurance passive;

5) data to determine excess and the maximum liability of the insurance undertaking or of the reinsurance undertaking in a reinsurance contract reactive;

6) personally identifiable data at the balance sheet date, the balance of accounts with each reasekuratorem with a reinsurance contract.

§ 10. The basis for the entries in the registers referred to in § 8 and 9, are the reinsurance contract and issued on the basis of the relevant billing documents (bills) or other documents that specify at least the following: the parties to the agreement, the types of risks covered by the contract, the duration of the contract, the data for determining the scope of protection of the reinsurance and all the necessary data for determining the share of the insurance undertaking or of the reinsurance undertaking in the agreement, in particular in the field of insurance technical reserves , as well as profit from the contract, if this is due to the terms of the agreement.

§ 11. 1. The records within the scope of the damage (claims) reported are carried out in such a way as to obtain for each injury separately for at least the following information: 1) date and registration number of the injury, the date of the injury and the date of filing of damage (claims);

2) data identifying the insurance contract, which the damage concerned;

3) group and the type of insurance, of which the damage concerned;

4) data identifying the person, if it is determined the perpetrator of the damage;

5) the value of the claim for compensation or assessment;

6) values (part or whole) of compensation and the date of payment;

7) value of the unpaid compensation included in the reserve.

2. The records shall be kept in such a way that the drawing up of the balance sheet date the list of damage reported to an insurance undertaking, referred to in § 12 para. 3, broken down by calendar years damage report and by years of damage.

3. Records in terms of damage referred to in paragraph 1. 1, leads only for direct business.

§ 12. 1. for each injury is created szkodowa documentation bearing the registration number of the damage.

2. Documentation of the szkodowa contains numbered documents relating to events and related damage report, documents showing the description of the damage, the details of the deposits and withdrawals associated with injury.

3. At the balance sheet date, for each class separately, shall be made, subject to paragraph 2. 5:1) a list of the damage reported in the reporting period, covering for each injury: injury registration number, the filing date of injury, the date of the injury occurred, the amounts paid in the current reporting period in respect of the damage, the value created at the end of the reporting period provisions for injury reported;

2) a list of the damage reported in previous reporting periods, and niezlikwidowanych to the end of the previous reporting period, including for each injury: injury registration number, the filing date of injury, the date of the injury occurred, the value created at the end of the previous reporting period provisions for damage reported, the amounts paid in the current reporting period, and the value created to the detriment of the reserve at the end of the reporting period reported.

4. insurance, which does not lay down provisions for outstanding claims by an individual in the list of damages reported, respectively, rather than the value of the reserve to the detriment of the reported for each injury separately represent the total value created for these damages provisions for damages reported.

5. At the balance sheet date shall be drawn up, in addition to the list referred to in paragraph 1. 3, a list of the damages for which the insurance company refused to pay part or all of the compensation, the creditor and on the way to legal proceedings. The above list includes for each injury separately: the registration number of the injury, the date of filing of injury, the date of the injury, the value of the contested the amount of the claim, the cost of the judicial process, including and for damages for which the insurance company refused to pay part or all of the compensation value of provisions for disputes for damages reported.

§ 13. 1. Records of recourses and recoveries should be carried out exclusively for direct business and in a manner to obtain at least the following information: 1) registration number and the amount of harm, which regressed or recovery;

2) identification data: a) the debtor, in the case of recourses, b) item recovery – in the case of recoveries;

3) the value of claims;

4) values obtained recourses and recoveries.

2. The records shall be kept in such a way as to determine the value of recourses and recoveries related to the injury, as well as to determine the value of recourses and recoveries by year of filing and the years of damage, which regresy and recoveries.

3. Records in terms of recourses and recoveries, referred to in paragraph 1. 1, only insurance undertakings carrying out activities in section II.

§ 14. 1. The insurance company performs activities in the Group 3 section and keep records of the funds separately for each insurance fund capital.

2. the registry aims to establish Fund net asset value per unit of account of the Fund, and where the investment risk shall be borne by the insurance undertaking, respectively the value of liabilities attributable to the unit.

3. Income and expenses and assets and liabilities of the Fund cannot be compensated with other revenues and expenses and assets and liabilities of the insurance undertaking.

4. in the case of life insurance, if investment risk shall be borne by the policyholder, the records of the Fund is carried out in such a way as to determine the value of the investments referred to in § 43.

5. The records shall be kept in such a way as to determine the size of the extracted of the Fund's assets and changes in the size of those assets during the reporting period, including at least determine for each Fund: 1) the value of the contributions received by the insurance company and the Fund before deduction of any fees and account values income from investments under the income of the Fund;

2) the value of the fees deducted from contributions, the value of the fees deducted from the resources of the Fund, the value of the cost of managing investments of the Fund, as part of the cost of the Fund;

3) States and changes in assets and liabilities of the Fund, in particular with regard to the investments of the Fund;

4) the value of the assets of the insurance undertaking for the increase of the insurance capital fund where the guaranteed rate of return on investments of the Fund is higher than the actually achieved by the insurance company during the reporting period.

6. Records must be conducted in such a way as to determine the value of the acquisition of the units assigned to each insured person, the current values of these units and the value of the units, after which they are remitted.

§ 15. 1. the insurance section (II) incurred during the reporting period acquisition costs in part attributable to future reporting periods are accounted for at the time, the rules for creating the reserve contributions.


2. reinsurance insurance chapter II incurred during the reporting period acquisition costs in part attributable to future reporting periods are accounted for at the time, the rules for creating the reserve contributions.

3. Transferred to future reporting periods acquisition costs referred to in paragraph 1. 1 and 2, are recognized in the assets of the balance sheet.

4. in the event of termination of the insurance contract activated acquisition costs relating to this Agreement shall be included in the costs in the same month in which the termination of the contract of insurance.

§ 16. 1. Insurance and reinsurance and Insurance Department and incurred during the reporting period acquisition costs in part attributable to future reporting periods are accounted for at the time.

2. Transferred to future reporting periods acquisition costs referred to in paragraph 1. 1, are recognized in the assets of the balance sheet, provided that were not included in the calculation of life assurance provisions.

3. Insurance and reinsurance and Insurance Department and acquisition costs are amortised in time only using actuarial methods.

4. in the event of termination of the insurance contract before the date of the activated acquisition costs relating to this Agreement shall be included in the costs in the same month in which the termination of the contract of insurance.

5. Acquisition costs are not activated in life insurance, if investment risk shall be borne by the policyholder, if the insurance is not specified the frequency and amount of paid contributions, as well as in insurance with a single calculated assuming commissions akwizycyjnej.

§ 17. 1. In respect of transactions: 1) the connection of an insurance undertaking of another insurance undertaking or the acquisition of another insurance undertaking, by the insurance undertaking, 2) reinsurance undertaking to another reinsurance undertaking or other reinsurance for reinsurance-shall apply mutatis mutandis the provisions of Section 4a of the Act.

2. With regard to the transfer of the portfolio of insurance referred to in article 2. 181 of the Act on the business of insurance, or reinsurance portfolio transfers referred to in article 2. 186A. 223zzi of the law on insurance business, shall apply mutatis mutandis the provisions relating to the taking over of another insurance undertaking, by the insurance company or the acquisition of another reinsurance undertaking by the reinsurance undertaking, subject to the provisions of paragraph 2. 3-6.

3. At the date of acquisition of the portfolio insurance or reinsurance portfolio by the insurance undertaking of the insurance technical reserves are valued in an insurance policy in the recipient, and the differences appropriately increase or decrease arising as a result of the acquisition of goodwill or negative goodwill.

4. At the date of acquisition of the portfolio of reinsurance for reinsurance insurance technical reserves are valued according to the rules in force in the reinsurance undertaking in the recipient, and the differences appropriately increase or decrease arising as a result of the acquisition of goodwill or negative goodwill.

5. The value of the company was established as a result of the acquisition of a portfolio of insurance or reinsurance portfolio is remitted in proportion to the time limits for resolving of acquired insurance technical reserves, but may not exceed 5 years. In cases justified by the specific nature of the acquired obligations the insurance undertaking or the reinsurance undertaking may extend the amortization period to 20 years.

6. If, as a result of the transfer of the insurance portfolio day occurring after or reinsurance portfolio of events or information, it was concluded that the carrying amount of assets and liabilities determined on the day of the transfer of a portfolio of insurance or reinsurance portfolio was inappropriate, to be made by the end of the next fiscal year, the year in which the transfer of the insurance portfolio or portfolio of reinsurance, the corresponding adjustment to goodwill or negative goodwill goodwill , provided that the unit provides recovery values of future economic benefits. Otherwise the adjustment includes up to other revenue or operating costs.

§ 18. In the case of loss of communication in accordance with the provisions of the Uniform Agreement between bureaux National-the rules of procedure referred to in article 2. 2. 1 point 15 of the law of 22 May 2003 on insurance mandatory. Insurance guarantee fund and the Polish Office of insurers (OJ No 124, item 1152, as amended. 6)), proof of an accountant which is the basis of the records of an economic event can be load document submitted in the form set out in these terms and conditions.



Chapter 3 special accounting rules in the field of insurance and reinsurance undertaking's investments § 19. [Investment Valuation] 1. Insurance and reinsurance undertaking shall be made, subject to the precautionary principle, valuation at the balance sheet date, subject to the provisions of paragraph 2. 2:1) of financial assets intended for trading, and available-for-sale financial assets when it is possible to determine the fair value reliably-at fair value;

2) of financial assets intended for trading, and available-for-sale financial assets when the fair value cannot be reliably determined: a) in the case of financial assets for which there is a fixed due date – according to the adjusted purchase price, taking into account the deductions for permanent loss of value, (b)) in cases other than those referred to in (a). and-according to the purchase price, taking into account the deductions for permanent loss of value;

3) financial assets held-to-maturity-according to the adjusted purchase price, taking into account the deductions for permanent loss of value;

4) loans and receivables of its own – according to the adjusted purchase price, taking into account the deductions for permanent loss of value;

5) shares in subordinated units – equity method;

6) real estate-according to the purchase price or production cost, less input value at the balance sheet date redemption, taking into account the permanent loss of value.

2. Deposits, which the policyholder bears the risk, are valued by the insurance company performs activities in the life insurance section at fair value.

3. deposit from ceding undertakings are valued in the amount required for payment referred to in accordance with the terms of the reinsurance contract, taking into account where the deposit is a financial instrument, also the valuation of this instrument. When pricing the deposit account shall be taken of any write-downs for permanent loss of value.

4. In determining the permanent impairment of financial assets the insurance and reinsurance undertaking shall take into account the financial situation of the entities, in which the assets are located and, in particular, the decline in the value of the net assets of these entities, which occurred between the date of acquisition and the balance sheet date, attributable to held by the insurance undertaking or the reinsurance undertaking financial assets. In the case of financial assets covered by the guarantees in determining the permanent loss of the value of the account shall also be taken of the financial situation of the guarantor.

§ 20. 1. The insurance company, managing respectively portfolios of financial assets intended for trading, held-to-maturity, available for sale and loans and own duties, shall take account in particular of the existing and projected receipts and expenses of operating activities and investing activities, the due dates for the obligations arising from the contracts of insurance and reinsurance contracts, based on the adopted by the insurance company investment strategy and, in the case of Group 3 Insurance Department and on the basis of the principles laid down in the rules of the placement of insurance capital fund measures referred to in article 2. 13 paragraph 1. 4 paragraph 3 of the law on insurance business.

2. Reinsurance managing respectively portfolios of financial assets intended for trading, held-to-maturity, available for sale and loans and own duties, shall take account in particular of the existing and projected receipts and expenses of operating activities and investing activities, the due dates for obligations arising out of reinsurance contracts, based on the adopted by the reinsurance investment strategy.

§ 21. 1. Insurance and reinsurance of short-term deposits include deposits which, due to the degree of liquidity are feasible within less than a year and that the insurance undertaking or the reinsurance undertaking intends to accomplish during this period.

2. for the long-term investments include investments other than those mentioned in paragraph 1. 1. § 22. 1. Insurance and reinsurance differences from revaluation of investments referred to in § 19 paragraph. 1, captures, respectively, in revenue or cost charges, subject to the provisions of paragraph 2. 2 and 3.


2. Differences from revaluation of investments included in the category of available-for-sale financial assets that are not included in the determination of the value of the technical provisions, are recognised directly in equity under the heading "revaluation" pursuant to § 21 para. 2 paragraph 2 of the regulation of the Minister of Finance of 12 December 2001 on detailed rules for the recognition, valuation methods, the scope of the disclosure and presentation of financial instruments, subject to paragraph 2. 4.3. Differences from the revaluation of investments included in the category of subordinated units shares are recognised in equity in the item "revaluation reserve", subject to article 22. 35 paragraph 1. 4 and 5 of the Act.

4. Created in the reporting period, copies of the permanent impairment of the investment shall be charged to the profit of an insurance undertaking or reinsurance undertaking.

5. a detailed presentation of the income and expenses of the investment income of the insurance undertaking or of the reinsurance undertaking shall specify the paragraph. 6, 7, 15, 16 and 19 of the annex 2 to the regulation.

§ 23. 1. In the case of implementation of investment equal or recognised as equal because of the similarity of their nature or end-use of these components issue the insurance and reinsurance undertaking shall be measured sequentially after prices (costs) of these assets, which the insurance undertaking or the reinsurance undertaking has acquired (created) at the earliest, or average prices laid down in the height of the weighted average prices (costs) of the asset.

2. when making a valuation, the insurance and reinsurance undertaking shall apply the principles of valuation of the portfolio investments of identical or considered equal because of the similarity of their kind.

§ 24. 1. Recognized as a result of the financial year both realised and unrealised investment income and expenses charges insurance implementing activities in Division I and reinsurance undertakings carrying out reinsurance activities in the Department and present in the life-assurance technical account, subject to the provisions of paragraph 2. 2.2. Investment income free resources of the insurance undertaking or of the reinsurance undertaking are transferred to the technical account-life-assurance business to the overall profit and loss account and included in "net investment income after taking into account costs, transferred from the life-assurance technical account.

3. income referred to in paragraph 1. 2, shall be reduced by the cost of charges relating to such income.

§ 25. 1. Recognized as a result of the financial year, the revenue and expenses charges insurance implementing activities in section II and reinsurance undertakings carrying out reinsurance activities in section II presents in the overall profit and loss account, subject to the provisions of paragraph 2. 2.2. Investment income taken into account in the calculation of the provision for capitalised value of the rent and the reserve for bonuses and discounts for insured persons are transferred from the profit and loss account to the technical account and presented under the heading "investment income net after taking into account costs, moved from the General profit and loss account".

3. income referred to in paragraph 1. 2, shall be reduced by the cost of charges relating to such income.

§ 26. Both realised and unrealised foreign exchange differences related to the activity as the insurance and reinsurance are recognised in the same way as realised and unrealised income and expenses of the investment return.

§ 27. 1. Insurance and reinsurance undertaking shall keep a register of the investments and related revenues and expenses in such a way that: 1) the determination of the values of individual types of investments representing technical provisions-insurance and other investments, subject to paragraphs 2 and 3. 2 and 3;

2) to determine the value of the different types of investments, referred to in § 19 paragraph. 1;

3) identification of the different types of revenues and costs related to the investments referred to in paragraphs 1 and 2, the recognised technical insurance account, respectively, the overall profit and loss account and in the equity of the insurance undertaking.

2. The insurance referred to in article 2. 146a of the law on insurance business, shall keep a register of the assurance undertaking's investments and related revenues and expenses in a way that allows the determination of: 1) the different types of investments representing technical reserves of insurance with direct insurance;

2) different types of deposits representing the technical provisions-insurance of active reinsurance;

3) other deposits.

3. The reinsurance undertaking performing the reinsurance in respect of chapter I and II shall keep a register of the undertaking's investments and related revenues and expenses in a way that allows the determination of: 1) the different types of investments representing technical reserves of insurance with reassurance and Department;

2) different types of deposits representing the insurance technical reserves of insurance reinsurance chapter II;

3) other deposits.

§ 28. 1. organizational fund the insurance and reinsurance undertaking treats as other special funds and keeps them in a separate bank account.

2. the measures referred to in paragraph 1. 1 the insurance undertaking may only be used for expenses associated with the establishment of the administration of the insurance undertaking and organising its network of delegations.

3. the measures referred to in paragraph 1. 1, the reinsurance undertaking may only be used for expenses associated with the establishment of the administration of the reinsurance undertaking.

4. How to create an organizational Fund and how spending the Fund determines the Statute of the insurance undertaking or of the reinsurance undertaking.

5. the measures in respect of foreign insurance undertaking's or foreign reinsurance deposit for the main branch comprises accounts, unless these measures are assets.

6. revenue title of the measures referred to in paragraph 1. 5, obtained by the main branch, respectively, increase the value of the deposit, unless the statutes main branch provides otherwise.

section 29. To the specific accounting rules on the investment of insurance and reinsurance, to the extent not regulated in this chapter, shall apply mutatis mutandis the rules set out in the regulation of the Minister of Finance of 12 December 2001 on detailed rules for the recognition, valuation methods, the scope of the disclosure and presentation of financial instruments.



Chapter 4 special rules for creating insurance technical provisions § 30. [Creating insurance technical reserves] 1. The insurance company creates technical provisions-insurance, intended to cover current and future liabilities, which may arise from contracts of insurance and reinsurance contracts.

2. Reinsurance creates technical provisions-insurance, intended to cover current and future liabilities, which may arise from contracts of reinsurance.

§ 31. 1. insurance technical provisions include the following types of provisions: 1) reserve contributions;

2) reserve for unexpired risks;

3) reserves for claims and benefits, including a provision for the capitalised value of the rent;

4) equalization reserve (risk);

5) reserve life insurance;

6) reserves of life insurance, if investment risk shall be borne by the policyholder;

7) provision for bonuses and rebates for the insured;

8) provision for refund of contributions for members;

9) other technical provisions-insurance provided for in the statutes of the insurance undertaking or of the reinsurance undertaking.

2. Insurance and reinsurance undertaking is obliged to have documentation that allows you to reproduce the calculations insurance technical reserves.

§ 32. 1. the amount of the technical provisions-insurance with direct insurance shall be determined in accordance with the provisions of the relevant insurance contracts on the basis of the calculations and estimates of the insurance undertaking.

2. the amount of the technical provisions-insurance of active reinsurance shall be determined in accordance with the provisions of the relevant reinsurance contracts based on calculations, estimates and information provided by ceding undertakings and calculations and estimates of the insurance undertaking or of the reinsurance undertaking.

§ 33. 1. Technical provisions-insurance direct insurance creates using the method: 1) individual-by determining separately for each insurance contract or any damage to the exact size of the reserves and, in the case of inability to determine the exact size of the reserves – use the reliable estimate;

2) flat-rate-by determining the reserve collectively for the whole or part of the insurance portfolio, as a fixed percentage (flat-rate) contributions or the value of the paid compensation and benefits; the flat-rate method can be applied only if obtained using the results will be similar to the results obtained using the methods of the individual; flat-rate indicator should be determined while maintaining the principle of continuity; unreasonable changes the size of a pointer is not permitted;

3) actuarial-based on determining the reserve using insurance, financial mathematics and statistics.


2. insurance technical provisions of reinsurance undertakings active formed in accordance with the provisions of the relevant reinsurance contracts, using the method: 1) individual-by determining separately for each reinsurance contract or any damage to the exact size of the reserves and, in the case of inability to determine the exact size of the reserves – use the reliable estimate;

2) flat-rate-by determining the reserve in bulk for the entire portfolio of reinsurance contracts or any part thereof, as a fixed percentage (flat-rate) contributions or the value of the paid compensation and benefits; the flat-rate method can be applied only if obtained using the results will be similar to the results obtained using the methods of the individual; flat-rate indicator should be determined while maintaining the principle of continuity; unreasonable changes the size of a pointer is not permitted;

3) actuarial-based on determining the reserve using insurance, financial mathematics and statistics.

3. where the available information does not allow the insurance undertaking or reinsurance undertaking to determine the amount of insurance technical provisions of reinsurance undertakings active according to the methods referred to in paragraph 1. 2, insurance technical reserves are created in amount of documented by ceding undertakings.

4. the Equalization Reserve is created, using the method: 1) in the case of the direct insurance: a) for classes of chapter II, with the exception of a group of 14 – the method referred to in § 40 paragraph 1. 3-4, b) for a group of 14 chapter II-methods referred to in annex 7 to the regulation;

2) in the case of reinsurance undertakings: a) for reassurance chapter II, with the exception of a group of 14 – the method referred to in § 40 paragraph 1. 5, b) for reinsurance insurance group 14 chapter II-methods referred to in annex 7 to the regulation.

§ 34. 1. direct insurance premiums Reserve is created individually for each of the insurance contract, as the contribution assigned per the next reporting periods, in proportion to the period for which the contribution was assigned, and in the case of insurance contracts whose risk is not evenly distributed during the period of insurance, the provision creates in proportion to the estimated risk in the following reporting periods.

2. Reserve contributions from active reinsurance is created individually for each reinsurance contract, as the contribution assigned per future reporting periods, in proportion to the period for which the contribution was assigned, and in the case of reinsurance contracts whose risk is not evenly distributed during the period of insurance, the provision creates in proportion to the estimated risk in the following reporting periods.

3. Assurance undertakings and reinsurance undertakings carrying out reinsurance activities in the section and may take into account in the calculation of premiums reserve the life insurance reserve, subject to the provisions of paragraph 2. 4-5.

4. Assurance undertakings form a separate reserve contributions from direct insurance for these insurance contracts, in which the provision of contributions is not included in the reserve for life insurance.

5. Assurance undertakings carrying out reinsurance activities in Division I and reinsurance undertakings carrying out activities in the section and create a separate reserve contributions from active reinsurance for those reinsurance contracts, in which the provision of contributions is not included in the reserve for life insurance.

section 35. Provision for unexpired risk is created as a supplement to the premium provision. This provision is intended to cover future damage, the benefits and costs arising from the concluded insurance contracts and to cover future damage, the benefits and costs arising from the concluded reinsurance contracts.

2. the insurance section II for unexpired risk reserve represents the difference between the expected value of future compensation, benefits and costs of the insurance undertaking with direct insurance and the sum of the size of the premiums and possible, anticipated in accordance with already concluded insurance contracts, future contributions.

3. Insurance reinsurance Division II for unexpired risk reserve represents the difference between the expected value of future compensation, benefits and costs of an insurance undertaking or a reinsurance undertaking with a reinsurance undertaking active and the sum of the amount of premiums and possible, anticipated in accordance with already concluded insurance contracts subject to a reinsurance undertaking, the future contributions of the reinsurance undertaking.

4. Insurance and reinsurance and Insurance Department and provision for unexpired risk is determined by actuarial methods.

§ 36. 1. The provision for outstanding claims, related to direct business benefits and creates in the amount corresponding to the established or expected ultimate value of future compensation payments and benefits related to committing, to the day, on which shall be a reserve, damages, plus costs of settling claims. In particular, this includes the damage that: 1) have been reported to an insurance undertaking to the day on which the reserve is created, and for which it has been determined the amount of compensation and benefits, or where the information allow to assess the amount of compensation and benefits;

2) have been reported to an insurance undertaking to the day on which the reserve is created, and the information does not allow for an assessment of the amount of compensation and benefits;

3) exist, but have not been reported to an insurance undertaking to the day on which the reserve is created.

2. Part of the reserve, which covers the cost of settling claims, should be created separately for each class of insurance.

3. in determining the value of the reserves for the damage referred to in paragraph 1. 1, paragraph 3, the insurance undertaking shall take into account the current process of settling claims in the insurance group, including the number and size of the damage reported in subsequent reporting periods, after the period for which the reserve was created.

4. in determining the value of the reserves referred to in paragraph 1. 1, do not use discounting or deductions arising from the adoption of the present value of the injury, when the insurance company provides that the final cost of the settlement of claims and the payment of compensation would be higher, subject to § 3. 2 and § 46.

5. A provision for benefits for rent in classes 1-4 chapter and creates as part of reserve life insurance.

6. the amount of the reserve for claims and benefits, without taking into account the estimated recourses recoveries and grants, in liabilities balance sheet on a gross basis and the participation of reinsurers.

§ 37. 1. in the group insurance final value of future compensation payments and benefits, the insurance company performs the activities in section II an estimated the value of the expected future returns of the costs of the plant as a result of the acquisition of claims against third parties (regresy), property rights for insured property (recoveries), and grants.

2. Estimate referred to in paragraph 1. 1, shall be determined in relation to the damage incurred to the balance sheet date, reliably, with the principle of prudence, based on comparative analyses of existing and projected volume of claims paid, compensation and to collect the recourses and recoveries.

3. When estimating the size of recourses, recoveries and the insurance company performs the activities in section II shall take into account the costs of recovery of recourses and recoveries and the costs incurred in order to obtain the grant.

4. When estimating the value of future reimbursement of the plant as a result of the acquisition of claims to third parties and property rights for insured property, in the case of business for more than three years in the group insurance, part of the sum received and the estimated recourses and recoveries in the cost of compensation and benefits in a given year injury shall not exceed the arithmetical share received recourses and recoveries in the cost of compensation and benefits with three consecutive years of damage , the immediately preceding the year for which it is made.

5. the estimate referred to in paragraph 1. 4, shall be determined separately for each year of the injury.

6. Claims of recourse action not covered by the estimate referred to in paragraph 1. 1, are recognised, in accordance with the principle of prudence, as soon as you receive them.

7. The value of the received recourses, recoveries and the grant shall be reduced by the value of the compensation and benefits paid.

8. the estimated value of recourses, recoveries and grants is presented in the balance sheet liabilities.

§ 38. 1. The provision for outstanding claims and benefits of active reinsurance creates in the amount corresponding to the established or expected ultimate value of future payments to cedentom with the participation of the insurance undertaking or of the reinsurance undertaking in the compensation and benefits that were not settled by ceding undertakings.

2. future payment referred to in paragraph 1. 1, also include the amounts allocated to compensate for the costs of settling claims, ceding undertakings.


3. future payment referred to in paragraph 1. 1, are associated with the damage that occurred to the day on which the insurance undertaking or reinsurance undertaking shall be the value of the reserve. In particular, this includes the damage that: 1) have been reported by ceding to the insurance undertaking or the reinsurance undertaking to the day on which the reserve is created, and for which it has been determined the amount of liabilities of the insurance undertaking or of the reinsurance undertaking or where the information that allow the assessment of the amount of liabilities of the insurance undertaking or of the reinsurance undertaking;

2) have been reported by ceding to the insurance undertaking or the reinsurance undertaking to the day on which the reserve is created, and the information does not allow for an assessment of the amount of liabilities of the insurance undertaking or of the reinsurance undertaking;

3) occurred, but were not reported by ceding to the insurance undertaking or the reinsurance undertaking to the day on which the reserve is created.

4. in determining the value of the reserves referred to in paragraph 1. 1, do not use discounting or deductions arising from the adoption of the present value of the damage when the insurance undertaking or the reinsurance undertaking provides that the final cost of the settlement of claims and the payment of compensation would be higher, subject to § 3. 2 and § 32 para. 2.5. Provision for termination benefits rent with reinsurance in insurance groups 1-4 chapter and creates as part of reserve life insurance.

§ 39. 1. in the case of life insurance, the value of the reserve for claims and benefits should be equal to the amount payable to the insured, legal or uposażonym, plus the costs associated with the payment of benefits.

2. in the case of reinsurance, Insurance Department and the value of the reserve for claims and benefits should be equal to the amount payable for the cedentom, in accordance with the provisions of the relevant reinsurance contracts.

3. If the contract of reinsurance presupposes the participation of reinsurer in the costs of settling claims, the assignor, the amount referred to in paragraph 1. 2, also includes an amount intended to compensate for the costs of settling claims the assignor.

§ 40. 1. the Equalization Reserve (risk) is created by: 1) insurance undertakings carrying out activities in section II;

2) reinsurance undertakings carrying out activities of re-rope in section II;

3) reinsurance undertakings carrying out reinsurance activities in Division I and II.

2. the Equalization Reserve (risk) is created in the amount intended to ensure the alignment of future fluctuations in the claims ratio for the participation of its own.

3. the Equalization Reserve (risk) of direct insurance is created for insurance groups, subject to section 41, where there are significant fluctuations in the claims ratio for the participation of its own. Jitter claims ratio shall be deemed to be essential, if the next four changes on their own share claims ratio, calculated from year to year, corresponding to the next five fiscal years preceding the creation of the reserve, at least double the experience a reduction in claims ratio on net amount by more than 20% or double the increase by more than 25% of its value.

4. the Equalization Reserve (risk) insurance creates for each class separately on the last day of the financial year, provided that in each of the last 5 financial years preceding the year of contribution earned in this group was greater than zero. Reserve for the group insurance is created such that, when you change the status of the reserve claims ratio for the financial year is calculated for the amount of damages adjusted to change the reserve was equal to the weighted average, where the weight is the premium earned, of the claims ratio in the group insurance of the last 5 financial years preceding the year, calculated without taking into account the changes to the Equalization reserve (risk). Where an insurance undertaking operates for less than 6 years, for the group insurance does not create equalisation reserves (risk). For the group insurance the size of the reduction in the reserve may not exceed its current height, and the size of the increase of the reserve may not exceed 5% of premiums earned for own share in the group, for which the reserve is created. The size of the Equalization reserve must not also exceed the 30% of the compensation payments for the participation in the financial year in the group insurance. If the group insurance premium earned in the fiscal year was equal to zero, the provision in this group are solved completely this year.

5. Insurance undertakings carrying out reinsurance and reinsurance form the Equalization reserve of active reinsurance on the principles referred to in paragraph 1. 2-4 for accounting classes specified in § 2 paragraph 1. 1 paragraph 26 (b). (b) subject to section 41.

§ 41. 1. Insurance and reinsurance undertaking carrying out the activity in a group of 14 Division II form the Equalization reserve (risk) that is designed to cover the negative Technical result achieved in this group in the financial year or to compensate for higher than the average claims ratio in this group in the financial year, before taking into account the change in the equalisation provision (risk).

2. The reserve is formed by one of the methods set out in annex 7 to the regulation, selected by the head of the unit.

3. The choice of methods to create a reserve shall be made on the basis of available statistical information resources unit, except that the insurance and reinsurance undertaking performing activities in a group of 14 Division II for a period of less than five fiscal years creates a provision referred to in paragraph 1. 1-method # 1 or # 2, which is set out in annex 7 to the regulation, using the appropriate medium growing according to the period of conducting these insurance.

§ 42. 1. Reserve life insurance forms, subject to the precautionary principle, determined a prospective actuarial method, subject to the provisions of paragraph 2. 2, taking into account: 1) all obligations under the concluded insurance contracts, including in particular: a) guaranteed insurance contract benefits, including guaranteed surrender value, b) provide optional rights in accordance with the terms of the insurance contract;

2) operating costs and costs associated with the payment of compensation and benefits.

When creating the reserve life insurance shall take into account the future proceeds of the insurance premiums payable under the insurance contracts.

2. the use of a retrospective method, provided that it gives the value of the reserve not less than the value of the reserve established a prospective method or when the insurance contract, it is not possible to use a prospective method.

3. The whole thing to be taken into account, directly or indirectly, the costs referred to in paragraph 1. 1, paragraph 2, should not be less than the forecast of future expenditure estimated in accordance with the principle of prudence.

4. the life insurance Reserve is created individually for each insurance contract. Provisions may be laid down for certain groups of a total of contracts of insurance, provided that they give approximately the same results as individual method, subject to the provisions of paragraph 2. 8.5. The insurance company shall, at least once every 5 years, to determine for all insurance contracts gross life assurance reserve size and the participation of its own method of the individual, as at the same date, subject to the provisions of paragraph 2. 8.6. In determining the value of reserve life insurance the insurance undertaking is required to take into account the likelihood of future periods of unfavorable factors that may affect the change in the level of these reserves, as well as to change the value of the assets covering them.

7. If the insurance contract provides for guarantees, life insurance reserve created for this contract may not be lower than the guaranteed surrender value.

8. The provisions of paragraphs 2 and 3. 4 and 5 shall not apply in the case of life assurance reserve that is created due to the risks of not having the nature of an individual, but on the whole or part of the portfolio of life insurance contracts.

9. the provisions of paragraphs 1 and 2. 1 to 8 shall apply mutatis mutandis in determining the value of the life insurance reserve of active reinsurance.

§ 43. The reserve life insurance, if investment risk shall be borne by the policyholder, in the amount of the value of the investments made in accordance with the provisions of the contract of life insurance.

§ 44. 1. The reserve for bonuses and discounts for insured persons with direct insurance is formed taking into account all expected amounts that will be magnified future benefits or reduced future premiums, in accordance with the contract of insurance.

2. in the case of life insurance, the method of calculating the reserve for bonuses and discounts for insured persons should be consistent with the assumptions used in the calculation of life assurance provisions and take into account the current method for granting premiums and discounts.


3. Reserve for bonuses and discounts for insured persons with active reinsurance for reinsurance contracts, which the provisions provide for the participation of reinsurer in bonuses and discounts paid or earned by the insurance which is the assignor to insured persons, uposażonym or authorized in accordance with the concluded insurance contracts.

§ 45. 1. The provision for reimbursement of contributions for members of the society is created by: 1) insurance undertakings carrying out activities in the form of the mutual society;

2) reinsurance undertakings carrying out activities in the form of reinsurance mutual.

2. In the case of mutual associations and mutual provision for refund of contributions for members of society creates to positive technical result achieved as far as the obligation to reimburse contributions arises from an insurance contract.

3. the provisions referred to in paragraph 1. 2, broken down by class of insurance for each year of the conclusion of contracts of insurance separately.

4. in the case of insurance contracts concluded on a reciprocal membership the reserve referred to in paragraph 1. 2, is created in relation to insurance contracts concluded on a reciprocal membership.

5. in the case of reinsurance mutual provision for refund of contributions for members of society creates to positive technical result achieved as far as the obligation to reimburse contributions results from reinsurance contract.

6. the provisions referred to in paragraph 1. 5, broken down by class accounts for each year of the conclusion of contracts of reinsurance separately.

7. in the case of reinsurance contracts concluded on a reciprocal membership the reserve referred to in paragraph 1. 5, is created in relation to reinsurance contracts concluded on a reciprocal membership.

§ 46. 1. the technical Rate used by the insurance company may not be higher than 80% of the weighted average of the rate of return on investments representing technical reserves in the last three financial years, as calculated using the method described in annex 8 to regulation, in the case of insurance contracts, fixed in foreign currency, shall take into account the rate of return on investments made in that currency.

2. the technical Rate used by the insurance company when valuing liabilities: 1) must not be higher than the corresponding technical rate used by the insurance company on the day of conclusion of the contract of insurance, from which derive these commitments;

2) must not be higher than the maximum rate of support shall be that applicable on the day of conclusion of the contract, with respect to the newly concluded insurance contracts, both in the case of obligations fixed in gold and foreign currencies.

3. the amount of the maximum rate of support shall determine and announce the supervisory authority, no later than 31 January of each year. How to determine the amount of the maximum rate of support set out in annex 9 to regulation.

4. Published in a given year the amount of the maximum rate of support is valid from 1 may of this year, subject to the provisions of paragraph 2. 5.5. Published in a given year the amount of the maximum rate of support does not apply in the calculation of technical provisions-insurance obligations insurance undertaking arising after 30 April of that year, as a result of: 1) made changes to the terms of insurance contracts concluded by that date, provided that these agreements was provided for the possibility of making the above changes; in particular, this applies to: increase the amount of the sum insured, the indexation of contributions swaps on non-contributory insurance;

2) accession of subsequent insured for group life assurance contract.

6. Restriction on the used technical interest, referred to in paragraph 1. 1 and 2, shall not apply to: 1) contracts of insurance in life insurance section, in which the premium is paid once, and the period for which the contract was concluded, is not more than 8 years, 2) life insurance contracts with the insurance capital fund-the used technical interest rate must not deviate from the rates of return on investment of the assets covering insurance technical reserves relating to these contracts.

7. Restriction on the used technical interest, referred to in paragraph 1. 1 and 2, shall not apply also to the determination of the value of life annuities capitalised chapter II, the technical rate used in section II does not deviate from the return on investment of the assets covering reserves on the capitalised value of the pension.

8. insurance may apply a lower interest than the technical rate of return advertised by the supervisory authority.

§ 47. 1. Adopted the creation policy and methods for the determination of insurance technical reserves, as well as assumptions about the data and statistical indicators to be used in determining the reserves should be used on a continuous basis; unwarranted change of principles, methods and assumptions are unacceptable.

2. in the case of life insurance, the rules for determining the profit participation due in respect of an insurance contract should be applied in a uniform manner for the entire duration of the insurance contract.

§ 48. The amount of technical provisions-insurance participation of reinsurer is determined by the insurance and reinsurance undertakings in accordance with the provisions of the relevant reinsurance contracts.

§ 49. 1. For all types of insurance contracts, where it is possible the life insurance reserve enumeration using the net contributions, you can use the Zillmera method, with the exception of insurance contracts in a timely manner in the event of death, and all insurance contracts accident and sickness.

2. Settlement at the time of the Zillmera method are subject to direct and indirect costs associated with the acquisition and the conclusion of an insurance contract and the costs associated with the use of optional capabilities by the policyholder to increase contributions in the course of the contract.

3. The maximum level of overhead, which can increase the net contribution is equivalent to 3.5% of the sum of capital distributed for the entire period of payment of contributions using the assumptions used in the calculation of life assurance provisions.

4. increased Contribution referred to in paragraph 1. 3, may not be higher than the premium paid by the client.

5. Acquisition costs settled using zillmerising may not be higher than the value of gross premiums written in the first year of the polisowym.

6. If, as a result of the zillmeryzacji the life insurance reserve is obtained a negative result, it is assumed to be the value of this reserve equal to "0".

7. subject to the reinsurance contracts of insurance referred to in paragraphs 1 and 2. 1, paragraph 1 shall apply. 2-6.

§ 50. If, in determining the amount of the technical provisions of insurance can be obtained in the course of calculation of negative values, for further calculations, the value equal to "0", excluding the result taking into account the value of estimated recourses, recoveries and grants in the reserve for claims and benefits.



Chapter 5 specific rules for the preparation of financial statements of insurance and reinsurance undertaking § 51. [Preparation of insurance technical account] 1. the life-assurance technical account non-life insurance technical account and is prepared by the insurance group.

2. active reinsurance technical account shall be drawn up by the accounting class.

§ 52. 1. Flows from operating activities insurance show separately the proceeds and expenses of direct business and reinsurance, separately and expenditure from passive reinsurance and separately influence and spending the rest of the operations.

2. Flows from operating activities reinsurance show separately receipts and expenditure of active reinsurance separately and expenses of reinsurance passive and separately influence and spending the rest of the operations.

3. investment income flows the insurance undertaking or the reinsurance undertaking has shown receipts and expenditure of the different types of investments. Receipts and expenditure related to the purchase of, the implementation of other assets than the investment of the insurance undertaking or reinsurance undertaking is recognised properly in the proceeds and expenses from the remaining operational activities or financial flows.

4. financial flows the insurance undertaking or the reinsurance undertaking shall recognise the proceeds and expenses associated with the financing of the business of an insurance or reinsurance undertaking both internal, including the proceeds from the issuance of shares, of aid to the capital, and external, including: loans, issuance of debt securities.

5. expenditure in respect of acquisition and expenditure of an administrative nature are recognised in full in the expenditure of: 1) direct business and reinsurance undertakings active in the event of an insurance undertaking;

2) reinsurance undertakings active in the case of reinsurance.

§ 53. An integral part of the financial statements of the insurance undertaking or of the reinsurance undertaking is the notes to the financial statements of the insurance undertaking or of the reinsurance undertaking, shall be drawn up in accordance with annex 4 to the regulation.

§ 54. 1. Explanation of the scope of information included in the financial statements of the insurance undertaking or of the reinsurance undertaking, referred to in annex 3 to this Act, specify as appropriate:


1) notes to the balance sheet items – Appendix # 1 to the regulation;

2) notes on the life insurance technical account non-life insurance technical account, and a general profit and loss account – annex 2 to the regulation;

3) notes to the cash flow statement – Appendix # 3 to the regulation.

2. scope of information to report on the activities of the insurance undertaking or reinsurance undertaking is set out in annex 6 to the regulation.

§ 55. 1. The financial statements of the insurance undertaking resulting from the merger of two insurance companies shall be drawn up on the day of the call.

2. The financial statements of the insurance, which made the acquisition of another insurance undertaking, there shall also be at the date of acquisition of another insurance undertaking.

3. The financial statements of the insurance undertaking for which were transferred: 1) portfolio of insurance or reinsurance portfolio of another insurance undertaking, reinsurance reinsurance portfolio 2)-there shall also be a on the day of the transfer of portfolio insurance or reinsurance portfolio.

4. The financial statements of the reinsurance undertaking resulting from the merger of two reinsurance shall be drawn up on the day of the call.

5. Financial statements reinsurance, which made the acquisition of another reinsurance undertaking, shall be drawn up on the date of acquisition of another reinsurance undertaking.

6. Financial statements reinsurance undertaking for which the reinsurance portfolio was transferred to another reinsurance undertaking or the insurance undertaking shall draw up on the day of the transfer of a portfolio of reinsurance.

§ 56. Export credit insurance corporation S.A. to financial statement appends the statement extracted a bank account referred to in article 2. 10 paragraph 1. 1 of the Act of 7 July 1994 on guaranteed by State export insurance (Journal of laws of 2001, no. 59, item. 609, as amended. 7)).



Chapter 6 of the consolidated financial statements of the Group § 57. [Company a parent] An insurance undertaking which is the parent undertaking or a reinsurance undertaking which is the parent undertaking, established on the territory of the Republic of Poland, shall draw up an annual consolidated financial statements of the group.

§ 58. 1. consolidated financial statements consists of, subject to paragraph 2. 5:1) from the consolidated balance sheet and off-balance-sheet items, but excluding information on measures of their own, solvency margin and the coverage of insurance technical reserves the relevant assets;

2) from the consolidated insurance technical account, subject to the provisions of paragraph 2. 4;

3) from the consolidated General profit and loss account;

4) from the consolidated cash flow statement;

5) [1] from the consolidated statement of changes in equity;

6) with additional information, including an introduction to the consolidated accounts and additional information and explanations.

2. [2] to the annual consolidated financial statements shall be accompanied by the report on the activities of the Group prepared respectively according to the conditions referred to in article 1. 49 paragraphs 1 and 2. 2, 2a and 3 of the Act, except that the information referred to in article 1. 49 paragraphs 1 and 2. 2, paragraph 5, of the law, you must provide information about the shares (shares) your own owned by its parent, the units that make up the Group and persons acting on their behalf. Report on the activities of the Group should take into account the information referred to in annex 6 to the regulation.

3. Notes to the consolidated financial statements of the Group should take into account the scope of the information specified in annex 5 to the regulation.

4. If the parent and the subsidiary from the parent and interdependent units conduct business of insurance or reinsurance activities in different departments of insurance, in the consolidated financial statements shall be drawn up separately life-assurance technical account non-life insurance technical account and personal information.

5. consolidated financial statements shall be drawn up in accordance with annex 3 to the Act, except that: 1) in the consolidated balance sheet extracts in addition: a) in assets – "the value of the company subordinated units", b) in liabilities:-under A "foreign exchange differences from the conversion of subordinated units" by exchange rate gains and losses, was in position A – "copies with net profit during the financial year (negative value)" ,-"negative goodwill of subordinated units", "minority";

2) in the consolidated technical account non-life insurance and in the consolidated the life-assurance technical account extracts in addition: a) income and charges subordinated units, b) under the heading "non-life insurance technical result" and "Technical result life insurance"-"Technical result of subordinated units";

3) in the consolidated General profit and loss account extracts in addition: a) income and charges subordinated units, (b)):-"copy of the goodwill of subordinated units", "copy of a negative goodwill of subordinated units," – "profit/loss from shares in subordinated units accounted for under the equity method", is a "profit/loss minority";

4) in the consolidated statement of changes in equity is in addition: [3] and) "exchange rate differences from the conversion of subordinated units", b) "copies of net profit during the financial year (negative value)".

§ 59. 1. insurance undertakings or reinsurance undertakings covered by the consolidated financial statements and, in particular, the subsidiaries and interdependent, should use the same method for the valuation of assets and liabilities and the preparation of financial statements in accordance with the accepted rules of accounting policies of an insurance undertaking which is the parent undertaking or of the reinsurance undertaking, which is a parent undertaking.

2. The rules for the consolidated financial statements of the group, in terms of unregulated in this chapter, shall apply mutatis mutandis the principles set out in the implementing rules pursuant to article 114. 81 paragraphs 1 and 2. 2 section 3 of the Act.



Chapter 7 transitional and final provisions § 60. [The provisions of previous] To the financial statements of the insurance and reinsurance undertakings established for the fiscal year beginning in 2009, the existing rules apply.

§ 61. The regulation shall enter into force on 1 January 2010, 8) 1) Finance Minister heads the Government Department-public finances, based on § 1 paragraph 1. 2 paragraph 2 of the regulation of the Prime Minister of 16 November 2007 on the detailed scope of the Minister of Finance (OJ No 216, 1592).

2) this regulation within the scope of its regulation transposes directive 2002/83/EC of 5 November 2002 concerning life assurance (OJ. EC-L 345, 19.12.2002, p. 1; Oj. EU Polish Special Edition, chapter. 6, vol. 6, p. 3-54, as amended. d.) and Directive 2005/68/EC of the European Parliament and of the Council of 16 November 2005 on reinsurance and amending Council Directives 73/239/EEC, 92/49/EEC as well as directives 98/78/EC and 2002/83/EC (OJ. EU L 323 of 09.12.2005, p. 1, as amended. d.).

3) changes to the said Act were announced in the journal of laws of 2004, no. 91, item. 870 and No. 96, item. 959, 2005 No. 83, item. 719, # 143, item. 1204, # 167, item. 1396, no. 183. 1538 and # 184, item. 1539, 2006 No 157, item. 1119, 2007 No. 50, item. 331, no. 82, item. 557, No 102, item. 691 and No. 112, item. 769, 2008 # 171, poz. 1056 and # 234, poz. 1571 and of 2009. # 18, item. 97, no. 42, item. 341, # 97, poz. 802, no. 115, item. 962, # 165, item. 1316 and No 166, item. 1317.4) Change the consolidated text of the said Act were announced in the journal of laws of 2007. # 180, item. 1280, 2008 No. 70, item. 416, no. 116, item. 732, no. 141, item. 888, # 171, poz. 1056 and # 216, item. 1367 and 2009 # 3, item. 11, no. 18, item. 97, # 168, item. 1323 and No. 201, item. 1540.5) amendments to the said Act were announced in the journal of laws of 2006, no. 120, item. 825, and No 157, item. 1119, 2007 No 49, item. 328, 2008 # 145, item. 918 and 2009 # 18, item. 97.6) amendments to the said Act were announced in the journal of laws of 2004, no. 26, item. 225, no. 96, item. 959, no. 141, item. 1492, no. 273, item. 2703 and # 281. 2778, 2005 No. 167, item. 1396, 2006 No 157, item. 1119, 2007 No 49, item. 328, # 82, item. 557, No 102, item. 691 and No 133, item. 922, 2008 # 225, item. 1486 and from 2009, # 91, poz. 739 and # 97, poz. 802.7) amendments to the consolidated text of the said Act were announced in the journal of laws of 2004, no. 96, item. 959, 2005 # 143, item. 1204 and 2009 # 161. 1277 and # 215, poz. 1662.


8) the scope of the matters governed by this regulation was regulated in the regulation of the Minister of Finance dated 23 December 2008 on specific accounting policies of insurance (Journal of laws No. 236, poz. 1634), which is repealed with effect from 1 January 2010 on the basis of article. 20 of the Act of 13 February 2009 amending the law on the business of insurance and certain other laws (Journal of laws No. 42, item 341).

Annex 1. [NOTES TO THE ITEMS IN THE BALANCE SHEET OF INSURANCE AND REINSURANCE UNDERTAKING]

The annexes to regulation of the Minister of Finance dated December 28, 2009 (1825) Appendix 1 NOTES to the ITEMS in the BALANCE SHEET of insurance and reinsurance undertaking 1. In position B and assets ' real estate ' is recognised both real estate intended for investment and real estate used for their own needs;

2. In item URB.III. 2 assets, debt securities and other fixed-income securities "are securities issued by credit institutions, other private or public institutions at guaranteed interest income, regardless of whether the interest rates on these securities is determined according to the rate constant or variable. This does not recognise the debt securities and other fixed-income securities issued by the subordinated units. These securities shown under B II. 2 the assets side of the balance sheet.

3. In item URB.III. 3 of assets, interests in joint ventures investment "is recognised in the case of entrusting the funds of the insurance undertaking or of the reinsurance undertaking other parties to mutual funds. In the case of entrusting the funds of the insurance entities subordinate to the insurance undertaking of the shares is recognised properly in position (B). II. 3 of the assets side of the balance sheet. In the case of entrustment measures reinsurance entities bonded reinsurance shares these are recognised properly in position (B). II. 3 of the assets side of the balance sheet.

4. In item URB.III. 4 "secured loan mortgage insurance undertaking shall recognise the loan, for which the main security is established, even if the mortgage loan is secured in addition policies. This reinsurance undertaking shall recognise the loan, for which the main security is established mortgage.

5. position URB.III. 5 assets "other loans" are recognised: 1) loans secured by financial institutions;

2) loan to the insured, whose main security policy;

3) other loans.

6. In item URB.III. 6 assets "term deposits in credit institutions" are recognised deposits in banks and other institutions receiving deposits and granting loans. This Bank not recognised titles wierzytelnościowych to deposits, for example. certificates of deposit, savings vouchers-these securities are recognised properly in position (B). II. 2 or in URB.III. 2 assets balance sheet if you are an investment in the subordinated units. Funds in bank accounts niezdeponowane to the specified term shall be shown under the heading e. II assets balance sheet, even if they are interest-bearing.

7. Under item URB.III. 7 assets the balance of "other investments" are investments that were not included in B OI 1 to 6. This is m.in. abnormal deposits which are not investments in subordinated unit. If the value of the investments shown in the position URB.III. 7 assets balance sheet total exceeds 2% position (B) assets balance sheet "investments", it should be indicated in the notes to the financial statements, taking into account its values and generic structure.

8. In item (B). (IV) assets receivables deposits from ceding undertakings, "the insurance undertaking or the reinsurance undertaking risk taker shows amounts owed by ceding undertakings and corresponding to granted guarantees fulfilment of the obligations arising out of reinsurance contracts, which have been deposited with ceding undertakings or third parties or have stopped by these units. Duty deposit may not be combined with other amounts owed by an insurance undertaking or reinsurance undertaking to host the risk from the assignor, as well compensated with the obligations of the insurance undertaking or of the reinsurance undertaking in the host exposure to the assignor. Securities or other financial assets deposited with ceding undertakings or third parties by way of security obligations in respect of contracts of reinsurance, and remaining owned by an insurance undertaking or a reinsurance undertaking of the host risk, are reported by the company on the balance sheet, with a separate indication of their character.

9. In item (C) of the assets of the balance sheet "net assets of life insurance, if investment risk (investment) shall be borne by the policyholder" – are recognised net assets for the account and risk of the policyholder. This recognises the assets, the value of which is used to measure the value of profit from insurance contracts related to the insurance fund and to cover liabilities that are determined in respect of the specified indexes. Measures of the insurance undertaking, invested including measures creating the insurance capital funds, shown under (B) assets of the balance sheet.

10. Under the heading URD.III. 2 the assets of "other receivables" are recognised, in particular, the claims arising in connection with the operations emergency Commissioner, performed on behalf of other insurance or reinsurance undertakings.

11. Balances in respect of Community co-insurance is recognised, including accounts arising out of direct insurance by making the relevant extract in the notes to the financial statements.

12. In item (E). (II) assets cash and cash equivalents "are also bills foreign cheques, etc. cash in transit, meaning measures between cash and own a bank account insurance (reinsurance) or between the two in their own bank accounts, foreign cheques submitted for execution by the bank until the recognition of the bank account of insurance (reinsurance) or bills.

13. In item (F). (II) assets "activated acquisition costs" are to be acquisition costs, in part attributable to future reporting periods.

14. In the position of URF.III assets "i.accrued" are to be interest and rent accrued as of the reporting date, which are not by grouping those or payable, and that were not included in the value of the investments.

15. a. and liabilities "core capital"-branches of foreign insurance undertakings and branches of foreign reinsurance show reserves extracted from equity accordingly foreign insurance undertaking or a reinsurance undertaking foreign and recognised by the company as capital.

16. a. V liabilities "revaluation" is m.in. the difference created by the update value of available-for-sale financial assets. In this position, in the case of debt securities classified as available-for-sale financial assets shows the differences between the fair value and the adjusted purchase price. The difference between the adjusted purchase price and the cost of debt securities and, in the case of a previously revalued – respectively revalued, is recognised directly in the income from the investment in position II. 2.2 or II. 3.2 technical account-life-assurance business or in position II. 2.2 or II. 3.2 General profit and loss account.

17. In item (B) liabilities "subordinated liabilities" are obligations, which in the event of the liquidation or bankruptcy of an insurance undertaking or reinsurance undertaking shall be repayable after satisfaction of all other creditors of the insurance undertaking or of the reinsurance undertaking.

18. In item (C) liabilities "technical provisions" of the recognised technical provisions-insurance before taking into account the participation of reinsurer in these reserves.

19. In item (C). And liabilities "reserve contributions and provision for unexpired risks" are recognised, including the provision of contributions and the provision for unexpired risks. The value of the reserve for unexpired risks shall be disclosed in the notes on the accounts. Assurance undertakings and reinsurance undertakings carrying out reinsurance activities in the section and put in this position, the value of the premiums not included in item (C). (II) liabilities of the balance sheet.

20. In item (C). (IV) liabilities, provisions for bonuses and rebates for insured persons ' insurance undertaking shall recognise the amount provided for the insured or beneficiaries of the insurance contract in the form of a share in the profits or returns, in part of the unrecognised in item 1 liabilities "obligations to the insured" or in position (C). (II) liabilities "reserve life insurance". In the case of the execution of the business of reinsurance under the heading c. IV liability "provision for bonuses and rebates for insured persons ' insurance recognises a provision for bonuses and rebates for insured persons with active reinsurance.

In position (C). (IV) liabilities, provisions for bonuses and rebates for the insured "reinsurance are recognised a provision for bonuses and rebates for insured persons with active reinsurance.

21. Under item C. V liabilities "equalisation reserves (risk of)" the Equalization reserve shall be designed to protect against fluctuations in the claims ratio in future financial years.


22. Under item URC.VII liabilities "other technical provisions-insurance as defined in the Statute" has other insurance technical provisions set out in the statutes of the insurance undertaking or of the reinsurance undertaking, not included in C-C.VI and C-VIII liabilities.

23. Under item (C). VIII liabilities "life assurance provision where the investment risk (investment) shall be borne by the policyholder" shall be the technical provisions established to cover the obligations corresponding to the value of the deposits, when the value of the policy depends on the rate of return on investments referred to in paragraph 1. 9, or when the rate of return of the policy depends on the specified indexes. Additional technical provisions for life assurance, created in order to cover the risk of death, operating costs and other risks (such as bonuses paid at maturity or guaranteed benefits which are equivalent for the surrender by the insured person of the rights deriving from the insurance contract), are shown in item (C). (II) liabilities.

24. Under item URF.III liabilities "other provisions" has all the other provisions not covered by previous items.

25. Under item (G) liabilities liabilities deposits received from reinsurers "-insurance undertaking which is the assignor and the assignor a commitment recognised reinsurance of financial resources received from the reinsurer or withheld under reinsurance contracts. These amounts may not be combined with other commitments to the reinsurer as well compensated with receivables from him. Cash guarantees reinsurer and remaining its property shall be subject to the records in the books of the assignor on account pozabilansowym, and shall be presented in the financial statements in the off-balance-sheet "received assurances and guarantees".

26. position H liabilities "other liabilities and special funds", with the exception of item H.VI liabilities "special funds", the obligation shall be disclosed in the notes by the obligations laid down in the Polish currency and in foreign currency.

27. In the position of H.V. 2 liabilities "other liabilities" shall be disclosed in the notes also the obligations arising in connection with the operations referred to in article 3. 3:7 and 8 of the law on insurance business.

28. Under item H.VI liabilities "special funds" has created funds both by law and by virtue of the resolutions of the General Assembly. These include in particular preventive Fund, organizing Fund and any funds for employees.

29. Technical provisions-insurance (liability item C), the share of reinsurer in insurance technical reserves (item D liabilities), the remaining reserves (position F liabilities), deposit liabilities to reinsurers (position G liabilities) and reinsurance (h. II liabilities) shall be disclosed in the notes.

30. To reinsurance undertakings do not apply paragraph 1. Article 5, point 2, paragraph 2. 9, 11, 23 and 27.

Annex 2. [NOTES TO THE TECHNICAL ACCOUNT LIFE INSURANCE, NON-LIFE INSURANCE TECHNICAL ACCOUNT AND A GENERAL PROFIT AND LOSS OF INSURANCE AND REINSURANCE UNDERTAKING]

Annex No 2 NOTES to the TECHNICAL ACCOUNT LIFE INSURANCE, non-life insurance TECHNICAL ACCOUNT and a GENERAL profit and loss of insurance and reinsurance undertaking 1. In all positions of technical insurance accounts and a general profit and loss account must be presented comparative data for the same reference period for the preceding financial year.

2. In item 1 "gross premiums written", included in the life-assurance technical account and in the technical account non-life insurance and personal, are recognised amounts due during the reporting period in respect of contracts of insurance and reinsurance contracts, regardless of whether such amounts relate in whole or in part to future reporting periods. In this position you must take into account, among other things: 1) contributions become the title provided in the reporting period cover, where the actual settlement occurs in subsequent reporting periods;

2) single premiums, including contributions for pension insurance, life assurance, single premiums resulting from the provisions for bonuses and rebates for the insured, if this is due to the insurance contracts;

3) additional premiums in the case of half-yearly, quarterly or monthly payments and additional payments from policyholders for expenses borne by the insurance undertaking;

4) in the case of co-insurance, the part of the premiums for the insurance;

5) reinsurance premiums due from ceding undertakings, including also the title of the entry in the wallet the assignor after deduction of unused premiums from insurance, withdrawn from the portfolio for insurance undertakings that are cedentami.

Contributions are reported together with all the Extras and additions for periods of outstanding, after deduction of the clunky, returns, discounts, any discounts and rebates and taxes and parafiscal burden.

3. In item 2 "reinsurance premiums attributed to" technical account life insurance and non-life insurance technical account and personal are recognised reinsurance premiums paid or payable to pay due to the reasekuratorowi during the reporting period on the basis of reinsurance contracts reactive proportional and disproportionate, concluded by the insurance undertaking or reinsurance undertaking. Portfolio entries payable to pay at the time of the conclusion or amendment of a reinsurance contract increase this amount while items due to the withdrawal of the portfolio to reduce this amount.

4. In item 3 "change in reserves and provisions for risks together with the gross" on the technical account-life insurance and life insurance technical account are to be differences between the status of the reserve for unexpired risk reserve and contributions at the end of the reporting period and at the beginning of the period on a gross basis, arising from direct insurance or reinsurance undertakings. This is a change of State reserves included in position (C). And liabilities side of the balance sheet.

5. In item 4 "reinsurance change in premium provisions" on the technical account-life insurance and life insurance technical account are to be differences between the status of the reserve for unexpired risk reserve and contributions at the end of the reporting period and at the beginning of the period in terms of the participation of reinsurer, resulting from direct insurance or reinsurance undertakings. This is a change of State reserves included in position (D). And liabilities side of the balance sheet.

6. In item II. 4 "positive value adjustments on investments" technical account-life-assurance business and a general profit and loss account are to be m.in. revenue title solutions previously created copies of the permanent impairment of the investment.

7. Under item III "unrealised gains on investments" technical account-life-assurance business and a general profit and loss account shall be recognised, subject to paragraph 2. 6, in particular the positive difference between the carrying amount and the purchase price (cost of manufacture) of investments, and, in the case of investments previously revalued – respectively revalued with the exception of a positive difference value adjustments on investments are reported in equity. In this position, in the case of debt securities, which valuation differences are not recognised in equity is reported positive differences between the fair value and the adjusted purchase price. The difference between the adjusted purchase price and the cost of debt securities and, in the case of a previously revalued – respectively revalued are recognised directly in the income from the investment in position II. 2.2 or II. 3.2 technical account-life-assurance business or in position II. 2.2 or II. 3.2 General profit and loss account.

8. In item IV. 1.1 technical account non-life insurance and personal or in V. 1.1 technical account-life-assurance business "compensation and benefits paid gross" are recognised: 1) all payments and charges (settlements in compensation of receivables) conducted during the reporting period in respect of compensation and benefits for damages and accidents occurring during the reporting period and prior periods (including pension payments and buyouts in life insurance) , including all direct and indirect, external and internal costs of settling claims and recovery of recourses and the costs incurred to obtain the subsidy, less any refunds received, regresy, any recoveries (including recoveries from the sale of the residue after the injury) and grants. The costs of settling claims and recovery of recourses shall also cover the costs of the proceedings;

2) compensation and benefits of co-insurance, in part attributable to the share of the insurance undertaking;

3) settled by ceding undertakings compensation and benefits for the insurance undertaking or the reinsurance reinsurance.


9. In item IV. 1.2 technical account non-life insurance and in position V. 1.2 technical account-life-assurance business "the reinsurers in the compensation and benefits paid" is compensation and benefits paid during the reporting period attributable to reinsurers under reinsurance.

10. Under the heading IV. 2 on the technical account-life insurance and in position V. 2 technical account-life-assurance business "status change of the provision for outstanding claims, and to provide for the participation of its own" is recognised: 1) in the case of an insurance undertaking carrying out the activities in section II state change of position URC.III liabilities balance sheet adjusted for change in the provision for the participation of reinsurer of heading URD.III liabilities and for a change the estimated recourses recoveries, and grants from the position of E liabilities balance sheet;

2) in the case of an insurance undertaking carrying out activities in Division I and reinsurance change in reserves from the position URC.III liabilities balance sheet adjusted for change in the provision for the participation of reinsurer of heading URD.III liabilities of the balance sheet.

11. In item VI of the non-life insurance technical account and in position VII technical account-life-assurance business "bonuses and rebates on net amount including changing the provision" shall be shown, after taking into account the participation of reinsurer: 1) in the case of the direct insurance premiums, discounts, paid or considered by an insurance undertaking to insured persons entitled or uposażonym in accordance with the contract of insurance. In this position, the amount shall be credited to the payment during the reporting period, paid or payable payments to the insured, holder or beneficiary, including the amounts allocated to increase the insurance technical reserves or intended to reduce future contributions, to the extent that these amounts are the transfer of surplus or profit of the entire business or its part, sums of amounts that are included in previous reporting periods that are no longer required. Discounts (discounts) include relief or partial reimbursement of the contributions arising from a course of individual insurance contracts. The size of the bonuses and discounts (discounts) should be recognised separately, if they are significant values;

2) in the case of active reinsurance share of insurance undertaking or of the reinsurance undertaking in bonuses and discounts paid or belonging to insured persons entitled or uposażonym by the insurance which is the assignor under the insurance contract, plus the status of the reserve for bonuses and discounts for insured persons with active reinsurance at the end of the reporting period, minus the status of the reserve for bonuses and discounts for insured persons with active reinsurance at the beginning of the reporting period.

12. In position VII. 1 non-life insurance technical account and in item VIII life insurance technical account 1 "acquisition costs" are to be incurred during the reporting period acquisition costs with direct insurance or reinsurance undertakings, adjusted for change of status of the activated acquisition costs and the value of the acquisition costs still would have been avoided, and the for the premiums earned during the reporting period.

13. In item VIII life insurance technical account 3 and in position VII. 3 technical account non-life insurance and personal "reinsurance commissions and profit shares received from reinsurers" shows the value of the position – as the negative. Reinsurance commissions are amortised at a time, by analogy to the billed at the time of acquisition costs incurred in respect of the conclusion of contracts of insurance or reinsurance contracts active covered by contracts of reinsurance.

14. in the position of the non-life insurance technical account VIII and XI in the position of technical account life insurance "other technical charges on net amount" shall be in particular: 1) due to the payment to the Insurance guarantee fund;

2) due to the payment of the cost of supervision over the activities of insurance and reinsurance mediation 3) due to the payment for the Polish Chamber of insurance;

4) copies to fund preventive or preventative cost of doing business, if the insurance company does not create a Prevention Fund;

5) due to the payment for Connection of volunteer Firefighters of the Republic of Poland;

6) other costs on the net amount included in the calculation of contributions;

7) value impairment debtors arising out of direct insurance and reinsurance;

8) losses arising out of direct insurance and reinsurance.

15. In item IX. 3 technical account-life-assurance business and in position V 3 a general profit and loss account "negative value adjustments on investments" is the value created in the reporting period, copies of the permanent impairment of the investment.

16. In heading X "unrealised losses on investments in the life insurance technical account" and in item VI "unrealised losses on investments" overall profit and loss account shall be recognised, subject to paragraph 2. 15, and in particular the negative difference between the carrying amount and the purchase price (cost of manufacture) of investments, and, in the case of investments previously revalued – respectively revalued fixed at the beginning of the reporting period, with the exception of the negative difference value adjustments on investments reported in equity. In this position, in the case of debt securities, which valuation differences are not recognised in equity, shows a negative difference between the fair value and the adjusted purchase price.

17. For the production of technical insurance accounts for individual classes or classes of account administrative costs shall be subjected to appropriate settlement according to the rules set out in the accounting policies of the insurance undertaking. For the production of technical insurance accounts according to particular classes of accounts administrative costs shall be subjected to appropriate settlement according to the principles specified in the accounting policy of the reinsurance undertaking.

18. Reinsurance undertakings carrying out reinsurance activities in Division I and II in the position and a general profit and loss account "technical Result non-life insurance or life assurance" show the sum of the values of: 1) as a result of the technical life-assurance, recognised in the 13TH position on the technical account-life-assurance business and 2) as a result of technical property insurance and personal, recognised in position X technical account-life insurance.

19. Under item II.4. "a positive result from the implementation of investments" and II. 5 "a negative result from the implementation of the investment of" a general profit and loss account shall be, respectively, either positive or negative differences between the revenue from the sale of investments and the cost of its own sale of those deposits covering the cost of investments and, in the case of investments previously revalued, appropriately revalued those deposits and transaction costs the implementation of the investment, taking into account the amounts recognised in equity capital revaluation. This is also the redemption of securities by the issuer.

20. In item VIII "other operating income" overall profit and loss account shall be in particular: 1) other income;

2) income from duty emergency Commissioner;

3) business income akwizycyjnej for the benefit of Open pension funds;

4) other operating income.

21. Under item (IX) other operating expenses overall profit and loss account shall be in particular: 1) other financial expenses;

2) costs associated with the exercise of the Commissioner's activities of the emergency;

3) costs associated with the akwizycyjnej activity for the benefit of Open pension funds;

4) other operating costs.

22. To reinsurance undertakings do not apply paragraph 1. 2, points 1-4, paragraph 2. 8 paragraphs 1 and 2, paragraph 1. 14 paragraphs 1 and 5, paragraph 1. 20 paragraph 3 and paragraph 4. 21 paragraph 3.

Annex 3. [NOTES TO THE CASH FLOW STATEMENT OF INSURANCE AND REINSURANCE UNDERTAKING]

Annex # 3 NOTES to the CASH FLOW STATEMENT of insurance and reinsurance undertaking 1. Influence of gross premiums include: 1) in the case of the insurance proceeds received during the reporting period arising out of direct insurance or reinsurance active per share insurance without taking into account the repayments of contributions, which are recorded under the heading a. II. 1.1 the cash flow statement.

2) in the case of reinsurance revenues in the reporting period, with the active participation of their reinsurance reinsurance without included returns of contributions, which are recorded under the heading a. II. 1.1 the cash flow statement.

2. The proceeds of gross contributions (item. A. and 1.1) and expenditure in respect of acquisition (after: a. II. 1.3) should be recorded separately, even if a settlement with the insurance intermediaries are made per the balance.

3. a. i. 1.2 "influence of recourses, recoveries and returns the gross compensation": 1) an insurance undertaking shall demonstrate the value of the proceeds in respect of recourses, recoveries, returns the gross compensation and grants without reduction of the costs of the investigation, recourses, recoveries, damages and costs incurred in order to obtain the grant;


2) insurance and reinsurance undertaking shall demonstrate the value of the proceeds in respect of participation in the regresach, the odzyskach and returns payments received by ceding undertakings, in accordance with the provisions of reinsurance contracts.

4. a. i. 2.1 "deposit reinsurers in respect of participation in the compensation": 1) an insurance undertaking shall recognise the amount actually received from reinsurers in respect of their participation in the compensation and benefits paid by the insurance undertaking with direct insurance together with the amounts intended to compensate for the costs of settling claims, unless they are part of the reinsurance commissions;

2) an insurance undertaking or reinsurance undertaking shall recognise the amount actually received from reinsurers in respect of their participation in the compensation and benefits paid by the insurance undertaking or the reinsurance undertaking with a reinsurance undertaking.

5. Deposit reinsurers in respect of participation in the compensation (item. A. i. 2.1) and the proceeds of reinsurance commissions and participation in profits the reinsurer (item. A. i. 2.2) should be recorded separately, even if the settlement of reinsurance entities made Minesweeper balance.

6. a. i. 2.3 shows deposits received from reinsurers.

7. a. II. 1.2 "compensation and benefits paid gross" is the amount actually paid by: 1) title insurance claims settlement (benefits) and other events covered by the insurance contract;

2) an insurance undertaking or a reinsurance undertaking cedentom in respect of the implementation of the risks or events covered by the agreement.

8. The proceeds from the issuance of shares (item. C.i. 1) means the amounts obtained NET-after deduction of the costs of emissions – regardless of the date of registration of an increase in share capital; mutual societies and the reinsurance mutual in that position against the deposit of shares in the share capital.

Annex 4. [SCOPE OF THE NOTES TO THE FINANCIAL STATEMENTS OF INSURANCE AND REINSURANCE UNDERTAKING]

Appendix 4 the SCOPE of the NOTES to the FINANCIAL STATEMENTS of insurance and reinsurance undertaking [4] notes to the financial statements of the insurance and reinsurance undertaking includes an introduction to financial statements and additional information and explanations.

I. Introduction to the financial statements of the insurance undertaking or of the reinsurance undertaking shall include, in particular: 1) the name and Head Office of the insurance undertaking or reinsurance undertaking and indication of the competent court or other authority of the leading registry, and in the case of a branch or the main branch of a foreign insurance undertaking or a branch or main branch of a foreign reinsurance also the name and registered office of the parent company;

2) an indication of the period covered by the financial statements, the reason, if the financial statements are for a period other than the fiscal year;

3) indicate that the financial statements contain aggregate information, if the insurance undertaking or of the reinsurance undertaking consists of internal organizational units producing its own financial statements;

4) indication as to whether the financial statements were prepared assuming continuation of the insurance undertaking or the reinsurance business in the foreseeable future, and whether there are circumstances indicating a threat of continuing activity;

5) in the case of the financial statements to be drawn up for the period during which there has been a combination or transfer of a portfolio of insurance or reinsurance portfolio, an indication that it is the financial statements after connecting or after you move the portfolio insurance or reinsurance portfolio, and an indication if the connection method used for settlement;

6) made during the financial year the accounting policy changes, including methods of valuation, together with the reasons for their introduction, if they have a material impact on the financial statements, with an indication of the changes caused by the difference in profit;

7) made in relation to previous financial statements changes the way the preparation of financial statements, together with the reasons for their introduction and the effects in terms of presentation of the assets and financial insurance undertaking or reinsurance undertaking;

8): a) of committed an error referred to in art. 54 paragraph 1. 3 of the Act, (b)) the amount of the correction relating to periods prior to, where an insurance undertaking or a reinsurance undertaking has made correction of error;

9) information about significant in an insurance or reinsurance undertaking events that occurred after the balance sheet date and were not included in the financial statements;

10) information about significant in an insurance or reinsurance undertaking events relating to previous years, which have been recognised in the financial statements of the fiscal year;

11) information about significant events relating to the financial year affecting significant change in the structure of balance sheet items and profit;

12) figures to ensure comparability of data of the financial statements for the year preceding the report for the financial year;

13) information on the remuneration of the statutory auditor or the entity authorised to audit financial statements, paid or payable for the financial year separately: a) mandatory examination of the annual financial statements, (b)) other services certifying c) tax consultancy services, d) other services.

II. additional information and explanations disclosure are subject to the information necessary to a better understanding of the financial situation and assets, as well as the financial and solvency of an insurance undertaking or a reinsurance undertaking, in particular: 1) with respect to the investments of the insurance or reinsurance undertaking: a) the assignment of the deposits which are financial assets listed on the balance sheet to: – financial assets intended for marketing,-loans and receivables financial assets-own held-to-maturity -available-for-sale financial assets, (b)) the purchase price (cost) of investments-where the investments are shown in the balance sheet at fair value, the fair value of the investments, where the investments are shown in the balance sheet at cost, the value of the existing write-offs, in the case of investments, the value of which has been partially cancelled or permanent loss of value; with regard to investments in real estate valuation of fair value shall be made not less than once every 5 years, c) investment related entities by: investments in subsidiaries, investments in units of interdependent, investments in associates and investments in the parent-for each unit separately, d) domestic and foreign investments, this located in the European Union and other , detailing the securities admitted to official listing on a regulated market of securities with unlimited zbywalnością unquoted and not regulated OTC securities issued or guaranteed by the State or international organizations, which is a member of the Republic of Poland, and investments issued or guaranteed by government entities; by foreign investments means deposits located outside the country. Placement of deposits in the case of:-estate determined – their location, deposits listed on regulated markets, the country their issuer,-other deposits – a place for their implementation, which means in particular: l for debt securities, loans and receivables and other financial instruments with guaranteed interest income – country of incorporation of the issuer, the country of the borrower, the country of the debtor, l for shares and other financial instruments conferring the right to participate in the company's capital is the seat of the company , l for units and investment certificates in investment funds or in other common funds to invest, the country seat of the management of the Fund, e) deposits in foreign currencies, if their share in the total investments of the insurance undertaking or of the reinsurance undertaking is significant, f) specification value of unsecured lending insurance, if their share in the total investments of the insurance undertaking or of the reinsurance undertaking is a major, g) to specify the investments included under the heading "other investments" If their participation in the total investments of the insurance undertaking or of the reinsurance undertaking is important) information which investment risk of changes to the interest rate, and credit risk investments load information), and in particular about the estimated maximum amount of losses for which the entity is exposed, without taking into account the fair value of any adopted or made security in the event that the creditor failed to comply with the provision of , including information about the concentration of that risk;

2) in respect of deposits with ceding undertakings: a) deposits in the country and deposits made abroad, including complex within the European Union and beyond, b) deposits on units associated with an insurance undertaking or a reinsurance undertaking;


2A) in respect of other assets shall be shown in the notes to the data about the shares (shares) of its own acquired, disposed of or forfeited during the reporting period;

3) in respect of the deposit liabilities reinsurance: a) the commitments expressed in the Polish currency and in foreign currency, b) liabilities to affiliated undertakings of an insurance undertaking or a reinsurance undertaking and the other;

c) liabilities to entities, whose head office is situated outside the territory of the Republic of Poland, in the territory of a Member State of the European Union and beyond, 4) for subordinated liabilities: a) the value of the individual loans and the currency in which they were incurred, (b) the due dates for interest rates and conditions);

5) with respect to receivables and liabilities shall be shown: (a)) the value of the receivables and liabilities from the passive reinsurance, b) the value of the receivables and liabilities from reinsurance, c) impairment of receivables according to the balance sheet items, (d)) the Division of duties and liabilities by balance sheet items remaining at the balance sheet date, the expected contract maturity up to 3 months (inclusive), for more than 3 months to 1 year (inclusive) above 1 year and the value of the receivables and liabilities overdue, e) debts and obligations to the units, whose head office is situated outside the territory of the Republic of Poland, in the territory of a Member State of the European Union, f) list of contingent liabilities and commitments secured by the assets of the insurance undertaking or of the reinsurance undertaking, with an indication of its kind, including separately on the related entities;

6) data on the accounting of derivatives hedging the value of the assets representing the technical provisions, including security description, a description of the financial instruments designated as hedging instruments and their valuation at the balance sheet date;

7) in respect of equity must be indicated in the notes: a) data about the ownership structure of the share capital and the number and nominal value of the subscribed shares, preferred shares, b) related profit distribution or loss coverage for the year, (c)) changes the value of the deposit for the main branches, taking into account the status at the beginning of the financial year, the increases and decreases during the reporting period and at the end of the financial year , d) (repealed);

8) in respect of insurance technical reserves shall be shown: (a)) the value of the reserve for unexpired risks, regardless of its amount, (b)) the value of the reserves for claims and benefits broken down by class, including separately:-for an insurance undertaking carrying out the activities in section II the value of the reserves for claims incurred during the reporting period, the value of the estimated recourses, recoveries and subsidies included in the reserve and in the income statement – for an insurance undertaking carrying out activities in Division I and reinsurance value reserves for claims incurred during the reporting period, c) in the case of the use of discounting or deductions in determining the provision for capitalised pension value, respectively, broken down by class, the amount of provisions before discounting and write-offs, description of the methods used, in particular, the technical rate used and the criteria adopted in determining the period of It took until the total elimination of injury, d) the value of the unit of insurance equity at the balance sheet date and the value changes during the reporting period in the case of an insurance undertaking performing insurance business in the Group 3 section I, e) the value of the provision for reimbursement of contributions for members in the case of mutual insurance and reinsurance mutual, f) data on the accounting of derivatives hedging the value of technical provisions-insurance , including a description of security, a description of the financial instruments designated as hedging instruments and their valuation at the balance sheet date;

9) in respect of other items of assets and liabilities shall be shown amount if their share in the total of the balance sheet of the insurance undertaking or of the reinsurance undertaking is important;

10) in life insurance and the reinsurance of life insurance you will need to demonstrate the value of gross premiums written during the reporting period broken down between direct insurance and reinsurance active indicating contributions: a) individual insurance (including individual continuation of group insurance) and group insurance.

(b)) of insurance with a single (including the assumption that insurance) and insurance with paid periodically, c) of the insurance premium and non-bonus, d) with insurance capital in nature, including: insurance insurance capital fund (including separately, if investment risk shall be borne by the policy holder) and the insurance of a foundation Charter, belonging to group 1 Department and, with an indication of the portion of contributions niezwiązanęj from the insurance coverage , e) in the case of a mutual amount of contributions in respect of contracts concluded with those non-member mutual societies, as well as the value of the benefit paid gross during the reporting period and the cost of the acquisition and administration by direct insurance and reinsurance reinsurance settlement balance active substance and balance billing of reactive reinsurance;

11) in respect of non-life insurance and reinsurance and property insurance gross premiums assigned gross premiums earned during the reporting period, compensation and benefits paid (including for direct insurance separately the costs of settling claims and costs incurred in order to obtain grants and regresy, recoveries and donations), and acquisition costs and administrative expenses, broken down between direct insurance and reinsurance active according to the classes of the accounting , the balance of the accounts of the active reinsurance and reinsurance settlement balance reactive according to the classes of the accounts;

12) the size of the gross direct premiums from contracts concluded outside of the Republic of Poland, this included the territory of the Member States of the European Union;

13) information on the process of settling claims (in the case of insurance chapter II by the accounting class): the average time the settlement of claims and information about the amount of claims incurred during the reporting period in respect of insurance contracts concluded in this period (including compensation and benefits paid in respect of such damage and the size of the created at the end of the year the reserve for claims and benefits);

14) for a list of the main tax items different income tax position accounting profit (including technical activities, in respect of extraordinary gains and losses), the height of the incriminating financial result income tax for the financial year, broken down by part of the current and the deferred part, information about the value of assets and created provisions for deferred income taxes, resulting from temporary differences between the shown in the accounts of the value of assets and liabilities and their tax base and tax loss possible to settle in the future;

15) in terms of income and expenses charges to extract income and expenses from the investment of insurance capital funds, including separate deposits, which the policyholder bears the risk;

16) in relation to the cost-value commissions from activities in the field of direct insurance or reinsurance undertakings active in the fiscal year, including: commissions for solicitation, commissions in respect of the renewal of the polis, the commissions for the collection of contributions and commissions for handling contracts of insurance and reinsurance contracts; data structure: acquisition costs, administrative costs, costs of loss and recovery of recourses, the costs of the charges by the internal and external costs, including: a) internal costs, including the consumption of materials and energy, personnel costs (salaries, insurance and other benefits, depreciation and others), b) external costs, including foreign service (separate commissions, advertising costs);

17) where the size and amounts are significant (significant number or the consequences for the insurance undertaking or reinsurance undertaking), you must provide information about revenues, costs and results of discontinued operations in the financial year or to cease in the following year;

18) information about the pay gap, including remuneration with profit, paid to members of the Management Board and the supervisory authorities of the insurance or reinsurance undertaking, as well as loans granted to such persons;

19) information about transactions with members of the Management Board and the supervisory authorities of the insurance or reinsurance undertaking and with the units in which they are shareholders (shareholders) or partners, if they are, directly or indirectly, voting rights of at least 33% of all the voting rights at the meeting of shareholders (the general meeting of shareholders);


20) information about the transactions with affiliates of capital;

21) information about significant transactions (together with their amounts) concluded by the insurance undertaking or reinsurance undertaking on other conditions than normal market with related parties-along with information specifying the nature of the transaction. Information about individual transactions may be grouped according to their type, except in the case of information about individual transactions are necessary for the understanding of their impact on the situation of financial assets and profit or loss of the insurance undertaking or of the reinsurance undertaking;

22) information on the nature and purpose of economic contained by an insurance undertaking or reinsurance contracts that are not included in the balance sheet to the extent necessary to assess their impact on the situation of financial assets and profit or loss of the insurance undertaking or of the reinsurance undertaking.

III. To reinsurance undertakings do not apply paragraph 1. II, point 8 (b). (c) and (d), paragraphs 12, 13 and 15.

Appendix 5. [SCOPE OF THE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS OF THE GROUP]

Appendix 5 SCOPE of the NOTES to the CONSOLIDATED FINANCIAL STATEMENTS of the GROUP and the notes to the consolidated financial statements of the Group should include: 1) the name and registered office of the parent undertaking, drawing up the consolidated financial statements;

2) data on ownership structure of the share capital of the parent undertaking of the hive-the number and value of shares (shares) owned by its parent and affiliates; This list should also include information on the percentage of shares and about participation in the management and of the profit or loss of these companies for the last reporting period;

3) goodwill and negative goodwill for each unit covered by consolidation separately, with an indication of how their findings and not yet made depreciation;

4) numeric information to ensure the comparability of data of the financial statements for the year preceding the financial report for the fiscal year;

5) figures on affiliates of the unit: a) assets financial investments in these companies, b) mutual claims and obligations, (c)) costs and revenues of reciprocal transactions, d) off-balance-sheet positions associated with related parties, e) other data necessary for the preparation of the consolidated financial statements;

6) in the case of the consolidated financial statements to be drawn up for the period in which the combination of related entity: a) in the case of settlement method of purchase, the name and description of the objects of the company acquired, number, nominal value and class of shares issued in order to connect, the price of the acquisition, the net asset value at fair value the company acquired on the day of the call, goodwill or negative goodwill and a description of the principles of its depreciation , or b) in the case of settlement of the pooling of interests method, the name and description of the objects of the company as a result of the connections are deleted from the register, the number, nominal value and class of shares issued in order to connect, income and expenses, gains and losses and changes in equity for the period from the companies combined their beginning of the financial year, during which the connection to the connection;

7) information about the remuneration of the statutory auditor or the entity authorised to audit financial statements, paid or payable for the financial year separately for: a) mandatory annual examination of the consolidated financial statements, (b)) other services certifying c) tax consultancy services, d) other services.

II. Notes on the individual items in the financial statements of the Group should provide information about: 1) joint ventures, which are not subject to full consolidation or property rights, including: (a)) name, percentage of joint venture activities, jointly owned assets and entered into commitments, including conditional, b) income received from joint venture and costs associated with them;

2) remuneration, including remuneration with profit, paid to members of the Management Board and the supervisory authorities of capital companies;.

3) loans granted to the members of the Management Board and supervisory capital companies;

4) transactions: (a)) with the members of the Board of Directors and the supervisory authorities of the insurance or reinsurance undertaking, as well as with persons who are spouses or persons actually remaining in cohabitation, relatives or people related by marriage to the second degree, adopted or adopters, those related to care or guardianship in relation to any of the persons who are members of the Management Board and the supervisory authorities of the insurance or reinsurance undertaking, (b)) with units in which stakeholders (shareholders) or members are persons mentioned in (a). and, if they are, directly or indirectly, voting rights of at least 33% of all the voting rights at the meeting of shareholders (the general meeting of shareholders);

5) transactions with related companies of capital and which are not covered by the consolidated accounts;

6) significant transactions (together with their amounts) concluded by the insurance undertaking or reinsurance undertaking, which is a parent undertaking or by other entities covered by the consolidated financial statements on different terms than the market with related parties, with the exception of transactions within the group-along with information specifying the nature of the transaction; information about individual transactions may be grouped according to their type, except in the case of information about individual transactions are necessary for the understanding of their impact on the situation of financial assets and profit or loss of the Group;

7) information about the nature and purpose of economic agreements concluded by the insurance undertaking or reinsurance undertaking, which is a parent undertaking or by other entities covered by the consolidated financial statements of contracts that are not included in the consolidated balance sheet to the extent necessary to assess their impact on the situation of financial assets and financial result of the group.

Annex 6. [SCOPE OF THE INFORMATION TO REPORT ON THE ACTIVITIES OF INSURANCE AND REINSURANCE UNDERTAKING]

Annex # 6 the SCOPE of the INFORMATION to report on the activities of INSURANCE and REINSURANCE activity report of the insurance and reinsurance undertaking should include: 1) information about events occurring in the current financial year, which significantly affected the financial status and the financial situation of the insurance undertaking or of the reinsurance undertaking;

2) information about the expected development of the insurance undertaking or of the reinsurance undertaking;

3) an indication of the risk factors of the business of insurance or reinsurance business and a description of the possible its risks;

4) the presentation of the current and projected financial situation: a) in the case of an insurance undertaking on the structure of the sale of insurance products, the profitability of investment income, the size of the costs of the business of insurance and reinsurance business, the size of the created at the end of the financial year insurance technical reserves, the State of the coverage of the solvency margin and guarantee capital, own resources, as well as the State coverage insurance technical reserves the relevant assets, b) in the case of reinsurance on reinsurance business performed , the profitability of investment income, the size of the cost of running the business of reinsurance, the size of the created at the end of the financial year insurance technical reserves, the State of the coverage of the solvency margin and guarantee capital, own resources, as well as the State coverage insurance technical reserves the relevant assets.

Annex 7. [METHODS for CREATING the EQUALIZATION RESERVE in insurance GROUP 14 CHAPTER II]

Annex No. 7 METHODS to CREATE EQUALISATION PROVISION insurance class 14 CHAPTER II Method # 1 1. The insurance and reinsurance undertaking is obliged to create a reserve for equalization for the risks of a group of 14. This reserve is intended to cover the negative result in the group 14 in the financial year.

2. The above provision increases in each business year of 75% positive result in a group of 14, but not more than the amount equal to 12% of premiums written on its own share in group 14, until it reaches the size of 150% of the world's largest collection of contributions to the participation of its own in the group 14 during the financial year in the last 5 financial years.

Method # 2 1. The insurance and reinsurance undertaking is obliged to create a reserve for equalization for the risks of a group of 14. It is intended to cover the negative result in the group 14 in the financial year.

2. The minimum size of this reserve shall be 134% of the average collection of contributions to the net amount of direct insurance and reinsurance undertakings active in a group of 14 during the financial year in the last 5 financial years.


3. The above provision increases in each business year of 75% positive result in group 14, until at least the size described in paragraph 1 (a). 2. the method # 3 (actuarial method) 1. The insurance and reinsurance undertaking is obliged to create a reserve for equalization for the risks of a group of 14. It is designed to cover a higher than the average claims ratio in the Group of 14 in a given fiscal year.

2. The above provision increases in each fiscal year, in which the claims ratio is less than the average claims ratio for the reference period, an amount equal to the product of the contributions earned in a given year, in a group of 14 by the difference between the average claims ratio for the reference period and the claims ratio for the year in question, until the required size of this reserve.

3. the Required size of the equalisation reserve is equal to the product of the six times the standard deviation of the sample claims ratio in subsequent financial years of the reference period by the amount of premiums earned in a given year, in a group of 14.

4. The above provision shall be reduced in each fiscal year, in which the claims ratio is higher than the average claims ratio for the reference period, an amount equal to the product of the contributions earned in a given year, in a group of 14 by the difference between the claims ratio in a given year and the average claims ratio in the reference period.

5. Regardless of the mileage claims and taking into account the adjustments the Equalization reserve in a given year increases in reserve each financial year about 3.5% of the required size of this reserve, until the required size of this reserve.

6. The reference period shall be not less than 15 years and not more than 30 years. the Equalization Reserve for the risks the group 14 is not formed, if in each year of the reference period the insurance undertaking or the reinsurance undertaking has not demonstrated a negative result in group 14.

7. the Required size of the Equalization reserve and the amount of the reductions should be reduced, if the analysis of the average claims ratio and the cost ratio in the reference period shows that premiums calculated is security overhead.

8. All calculations refer to revenue and costs for the participation of its own.

9. The term "cost factor" means the ratio of the cost of the business of insurance and other expenses to net amount (item. VII and VIII technical account non-life insurance and personal – Annex No 3 to the Act) to premiums earned.

Method # 4 (actuarial method) 1. The insurance and reinsurance undertaking is required to create a reserve for equalization for the risks the group 14. It is designed to cover a higher than the average claims ratio in the Group of 14 in a given fiscal year.

2. The above provision increases in each fiscal year, in which the claims ratio is less than the average claims ratio for the reference period, an amount equal to the product of the contributions earned in a given year, in a group of 14 by the difference between the average claims ratio for the reference period and the claims ratio for the year in question, until the required size of this reserve.

3. the maximum size of the required equalisation reserve is equal to the product of the six times the standard deviation of the sample claims ratio in the reference period by the amount of premiums earned in a given year, in a group of 14.

4. The above provision shall be reduced in each fiscal year, in which the claims ratio is higher than the average claims ratio in subsequent financial years of the reference period, an amount equal to the product of the contributions earned in a given year, in a group of 14 by the difference between the claims ratio in a given year and the average claims ratio for the reference period until the minimum required size of this reserve.

5. The minimum size of the equalisation reserve equals three times the standard deviation of the sample claims ratio in subsequent financial years of the reference period by the amount of premiums earned in a given year, in a group of 14.

6. The reference period shall be not less than 15 years and not more than 30 years. the Equalization Reserve for the risks the group 14 is not formed, if in each year of the reference period the insurance undertaking or the reinsurance undertaking has not demonstrated a negative result in group 14.

7. both the required size, maximum and minimum, the Equalization reserve and the amount of the reductions should be reduced, if the analysis of the average claims ratio and the cost ratio in the reference period shows that premiums calculated is the overhead safety and that safety overhead ratio is at least equal to 1,5 times the standard deviation of the sample claims ratio in subsequent financial years of the reference period. These sizes should be reduced by multiplying them by the quotient of more than 1,5 times the standard deviation of the sample claims ratio in subsequent financial years of the reference period and the overhead security.

8. All calculations refer to revenue and costs for the participation of its own.

9. The term "cost factor" means the ratio of the cost of the business of insurance, reinsurance and other technical expenses net amount (item. VII and VIII technical account non-life insurance and personal – Annex No 3 to the Act) to premiums earned.

Annex 8. [Method of CALCULATING the WEIGHTED AVERAGE of the rate of return on INVESTMENTS REPRESENTING technical reserves of INSURANCE in the last 3 YEARS]

Appendix 8 METHOD of CALCULATING the WEIGHTED AVERAGE of the rate of return on INVESTMENTS REPRESENTING technical reserves of INSURANCE in the past 3 FINANCIAL YEARS 1. The height of the average weighted rate of return (K) from deposits representing the insurance technical reserves in the last 3 financial years preceding the year (S) shall be calculated as follows: K = 50% x K1 + 30% x K2 + 20% x K3, where K1, K2, K3-means return on investment all deposits which cover all insurance technical reserves are identified using the feet with the exception of the technical reserves relating to insurance contracts referred to in § 46 para. 6 of regulation – in the following years, the KI refers to the year S-l, K2 S-2 year, and K3 until S-3.

Where the insurance undertaking is working for less than 3 years, the above formula shall apply mutatis mutandis, for the two-year period the weight is 65% for last year and 35% for the penultimate.

If the result of the calculation carried out in accordance with the above formula is a negative number is the height of the average weighted rate of return (K) is 0.

2. the rate of return on investments representing technical reserves in the financial year shall be calculated in accordance with formula: rate of return = [2 x L/(A + B-L)] x 100% where: L-means revenue from investments total investments representing the adequate technical provisions-insurance, less the cost of charges in the fiscal year, and means the value of all investments representing the appropriate insurance technical reserves at the beginning of the financial year , B – means the value of all investments representing the appropriate insurance technical reserves as at the end of the financial year.

Annex 9. [METHOD OF DETERMINING THE AMOUNT OF THE MAXIMUM RATE OF SUPPORT]

Annex # 9 the METHOD of DETERMINING THE AMOUNT of the MAXIMUM RATE of SUPPORT 1. The height of the maximum interest (J) in the financial year (R) is calculated as follows: J = 60% x (50% x I1 + 30% x I2 + 20% x I3), where I1, I2, I3-means the weighted average annual profitability of the fixed-rate Treasury bonds, with a maturity period of not less than 8 years, obtained on the primary market, in the last 3 years, with the I1 means profitability in year R-1 I2 profitability in year R-2, and I3 profitability in year R-3.

2. The term "weighted average annual yield Treasury bonds" means the weighted average profitability obtained on the original tender in the appropriate year, where the weights are the nominal values of the bonds sold to individual tenders.

[1] § 58 paragraph 1. 1 point 5 in the version set by § 1 (1) (a). (a)) of the Minister of Finance of 27 October 2015. amending Regulation on specific accounting policies of insurance and reinsurance (OJ. 1849). The change came into force on 27 November 2015.

[2] § 58 paragraph 1. 2 in the version agreed by § 1 (1) (a). (b)) of the Minister of Finance of 27 October 2015. amending Regulation on specific accounting policies of insurance and reinsurance (OJ. 1849). The change came into force on 27 November 2015.


[3] § 58 paragraph 1. 5 section 4 is added to be determined by § 1 (1) (a). (c)) of the Minister of Finance of 27 October 2015. amending Regulation on specific accounting policies of insurance and reinsurance (OJ. 1849). The change came into force on 27 November 2015.

[4] see Appendix 4 in the version set by § 1 paragraph 2 of the regulation of the Minister of Finance of 27 October 2015. amending Regulation on specific accounting policies of insurance and reinsurance (OJ. 1849). The change came into force on 27 November 2015.

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