IT ' S SMART

Instructions to implement some of the provisions of the Digital Protocol 45 /2007/NĐ-CP 27th

March 2007 by the Government of the Government to rule out certain conditions.

of the Insurance Business Law and Digital Decree 123 /2011/NĐ-CP the date

December 28, 2011 of the Government rules the details of certain provisions of the Law

amended, the addition of some of the provisions of the Insurance Business Law

______________________

The National Insurance Business Base. 24 /2000/QH10 December 9, 2000;

The amended Law Base, which adds some of the provisions of the Digital Insurance Business Law 61 /2010/QH12 November 24, 2010;

Base of Protocol 45 /2007/NĐ-CP March 27, 2007 of the Government Regulation details of certain provisions of the Insurance Business Law;

Base of Protocol 123 /2011/NĐ-CP December 28, 2011 stipulate details of some of the provisions of the Amendment Law, which adds some of the provisions of the Insurance Business Law and the amendment, adding some of the provisions of the Protocol. 45 /2007/NĐ-CP March 27, 2007 of the Government Regulation details of certain provisions of the Insurance Business Law;

Base of Protocol 118 /2008/NĐ-CP November 27, 2008 of the Government Regulation, mandate, authority, and organizational structure of the Ministry of Finance;

On the recommendation of the Director of the Bureau of Management, monitoring of insurance;

Minister of Finance issued a guide to enforce certain provisions of the Fourth Protocol. 45 /2007/NĐ-CP March 27, 2007 of the Government Regulation details the implementation of some of the provisions of the Insurance Business Law and Digital Protocol. 123 /2011/NĐ-CP December 28, 2011 of the Government rules the law enforcement of certain provisions of the amended Law, which adds some of the provisions of the Insurance Business Law,

Chapter I

GENERAL REGULATION

What? 1. The adjustment range

This information guides the establishment and operation of life insurance, non-human life, health, reinsurance, insurance brokerage, non-life insurance business branch, foreign life insurance business; life insurance business, non-human life, health and health insurance. well, reinsurance, insurance broker, insurance agent; the establishment and service of the representative office of life insurance business, non-human life, health, reinsurance, foreign insurance brokerage in Vietnam.

What? 2. Subject applies

Life insurance businesses, life-life, health, reinsurance, insurance brokers, foreign-life insurance business affiliates, insurance agents and organizations, individuals with compliance with responsibility for compliance at this Smart. and the provisions of the relevant law; guarantee cooperation, healthy competition, and antitrust in the insurance business.

What? 3. Explain words

The words in the daily Notice are understood as follows:

1. The insurance business is a life insurance business, life-life insurance business, health insurance business, reinsurance business, insurance brokerage.

2. Business insurance business is a life insurance business, life insurance business, business insurance business.

3. The insurance holding company is a life insurance holding company, the non-life insurance holding company, the health insurance business holding company, the reinsurance holding company, the insurance brokerage holding company.

4. Insurance limited liability company is a life insurance limited liability company, a non-life insurance LLC, a limited liability company that specializes in health insurance business, LLC reinsurance company, public health insurance company, and more. A limited liability company.

5. The foreign branch is a branch of foreign life insurance business.

6. Commercial Bank is the established bank and legal operation in Vietnam.

Chapter II

SPECIFIC REGULATION

Item 1

LICENSE LEVEL CREATION AND ACTIVITY

What? 4. General Conditions of Establishment and Operations

1. Organization, the individual that contributes to the insurance business must meet the conditions under regulation at Article 63 The Insurance Business Law, paragraph 8 Article 1 The amendment law, the addition of a number of provisions of the Insurance Business Law and point a, paragraph 1 Article 6 of the Digital Protocol 45 /2007/NĐ-CP The foreign non-human life insurance business established foreign branches in Vietnam must meet regulatory conditions at 1 Article 9 of the number of countries. 123 /2011/NĐ-CP.

2. The insurance business has a charter capital that has contributed no lower than the regulatory capital rate at Article 4 Digital Protocol 46 /2007/ND-CP (for business insurance business, insurance brokerage business), paragraph 4 Article 43 Digital Protocol. 123 /2011/NĐ-CP (for the reinsurance business). The foreign branch has capital that is granted no lower than the specified legal capital at the point of a 1 Article 19 digital decree. 123 /2011/NĐ-CP.

3. The organization, the individual that contributes to the profile of the proposed license to form and operate under the regulation at Article 64 Insurance Business Law, Article 7 Digital Protocol 45 /2007/NĐ-CP (for the life insurance business, the nonprofit insurance business, the insurance brokerage business), Article 40 of the Digital Protocol. 123 /2011/NĐ-CP (for businesses that specialize in health insurance business), paragraph 2 and paragraph 3 Article 43 digital decree 123 /2011/NĐ-CP (for the reinsurance business). Foreign non-foreign life insurance business established branch in Vietnam must have a prescribed profile at Article 10 of the number of digits. 123 /2011/NĐ-CP.

4. The insurance business is envisage to have a business type, the Charter of Organization and Operations in accordance with the Insurance Business and Insurance Law that is relevant. The foreign branch is organized and operated in accordance with the Insurance Business Law and related legislation.

5. The administrator, the expected executive of the insurance business, the foreign branch must meet the conditions of management competability, the prescribed career expertise at Article 13 of the number of foreign states. 45 /2007/NĐ-CP (for the insurance business), paragraph 2 Article 12 Protocol No. 123 /2011/NĐ-CP (for the foreign branch) and the direction of the Ministry of Finance.

6. Enterprise insurance, foreign branch must have a technical facilities, equipment, information technology system to be able to operate after being granted a license to establish and operate.

What? 5. Charter Level Conditions established and operates the insurance business.

In addition to the general conditions specified in this Article 4, the organization, the individual who contributes to the insurance business must respond to the following conditions:

1. For the establishment of the insurance holding company

1.1. There are a minimum of 2 founding shareholders. For the reinsurance holding company, the shareholder is the organization that has to operate in the financial, banking, insurance sector.

1.2. There is a regulatory capital structure that has contributed to the following regulation:

a) A shareholder is personally owned by a maximum of 10% of the charter capital;

b) A shareholder organization is owned by a maximum of 20% of the charter capital;

c) The shareholder and those involved are owned up to a maximum of 20% of the charter capital;

d) The founding shareholders must jointly own a minimum of 50% of the common shares of the insurance holding company in the minimum term of three (03) years from the date the company was granted a license to establish and operate.

1.3. The organization contributes to the following conditions:

a) Must use equity and do not use the loan capital, the investment trust of the organization, the other individual to participate in the capital; has equity subtracted from long-term investments formed from equity that is greater than the amount of capital expected to contribute to the business. The insurance business in the five adjacent year of filing a license to grant permission to establish and operate;

b) The organization to participate in capital contributions from 10% of the proposed capital becomes profitable business and there is no rampart in the three (03) years adjacent to the year filing the proposed license to establish and operate;

c) There is a minimum equity equity of 50% of the legal capital of the insurance business; the capital with no more than 25% of the equity of that organization;

d) The case of organising participation is the insurance business, the commercial bank, the financial firm, these organizations must ensure the maintenance and response of capital safety conditions and other financial conditions under the rule of specialist law. The field

1.4. The individual contributes to the following conditions:

a) Have to use your own capital and not use the loan capital, the investment trust of the organization, the other individual to contribute.

b) Have to demonstrate the possibility of capital funds: the bank's confirmation of the balance of the Vietnamese currency (including the savings deposit) or the free foreign currency converts in the account at the bank (the minimum amount must be equal to the amount of money that contributes capital). The bank's confirmation moment is not too late for thirty (30) days as of the date of filing a permit to establish and operate the insurance business.

2. For the establishment of an LLC (Limited) liability company.

2.1. The owner of the venture capital must be the organization that has a legal status, in which:

a) The organization of Vietnam participated in the contribution of the terms of regulation at paragraph 2 Article 39 of the number. 123 /2011/NĐ-CP (for business insurance business), paragraph 3 Article 43 Digital Protocol 123 /2011/NĐ-CP (for the reinsurance business).

b) The foreign organization participating in the capital must meet the conditions of regulation at paragraph 2 and paragraph 3 Article 6 of the number of Protocol 45 /2007/NĐ-CP.

2.2. The participating organization meets the stipulation conditions at 1.3 paragraph 1 This Article.

What? 6. Charter Level Conditions for the establishment and operation of foreign branch

Foreign insurance business wants the establishment of foreign branches in Vietnam must meet regulatory conditions at point c and point 2 Article 9 of the number of countries in Vietnam. 123 /2011/NĐ-CP; regulation at Article 4, save and save 1.3 paragraph 1 Article 5 This message.

What? 7. Profile of the establishment and operational license level

1. The application to issue a license to form and operate under the prescribed pattern at Annex 1 issued by this Information.

2. Draft the Rules for Organization and Operations (for the insurance business) or the draft of the Regulation and Operations Regulation (for the foreign branch). The draft and operation charter of the insurance business must be fully signed by the competent representative of the parties to the provisions of the law. The draft of the Organization for the Organization and Operations of the Foreign Branch must be ratified by the non-foreign life insurance business.

3. The business of business activity of the year (05) the first year of the insurance business, the foreign branch that includes the following main content:

a) Joint assessment of the business method of the insurance business, the foreign branch in the general context of the market, including the challenges, the prospects set out;

b) Assessment of competitive participation in the market of the insurance business, the foreign branch expected to establish which proves the advantage of the business, the branch when participating in the market;

c) The analysis of the insurance business, customer object, and the mining network is expected to deploy;

d) The conditions of deploying the insurance business under the rule of law (for the conditional insurance professions);

The strategy of the insurance business, the foreign branch in developing the expansion of the operational network;

e) To result in business results, revenue, compensation of each business, cost management, financial investment from equity and insurance business funds. The forecasts are expected to be based on bases, assuming facilities;

g) Draft of the extraction processes, regulations, compensation, internal control, financial management, and investment management, management of reinsurance programs;

) Expected the method of extracts the insurance business under the regulation at the Digital Protocol. 46 /2007/ND-CP and the execs of the execs;

i) Proposition of payment capacity by regulation at the Digital Protocol 46 /2007/ND-CP and the execs of the execs;

) The investment method for information technology, which states: the scale of investment, the time to implement investment, the type of technology that is expected to apply, the ability to apply information technology in the functioning of the insurance business, the foreign branch;

l) Preliminary modeling organization; describe the functional function of each department; the structure and number of cadres of each department; the initial training and regular training of the insurance business, the foreign branch.

4. List, preliminary of the calendar, copy of the proof of competen-proof texts, the professional level of management of the administrative offices of the insurance business, the foreign branch. For the title of Chairman of the Board (Chairman of the Board of Directors, Chairman of the Company), the Director General (Director) of the insurance business and the title of General Manager (Director) of the foreign branch must have a judicial background.

5. The documents related to the shareholder (or member) founded or contributed from 10% of the charter capital onwards:

5.1. For the shareholder (or member) the capital is the organization:

a) A copy of the established decision-making, the license to establish and operate, the organization's business registration certificate for capital participation in the time of no more than three (03) months as of the date of filing of the license issue.

b) the organizational and operational charter of the capital contribution;

c) The text of the granting authority determines the participation of the capital that established the insurance business, the foreign branch in Vietnam;

d) The authorized text for the authority of the organization to participate in a contribution of capital to which specifies the deadline for the mandate and the authorized content (if any). The representative must have legal personal certificates (copy of the testimony) in accordance with the rule of law;

The financial report has been audits for three (03) years adjacent to the year filing a licensing offer, and the documents that demonstrate the ability to participate in accordance with the regulation at 1.3 paragraph 1 Article 5 This message.

5.2. For shareholders (or members) that are inherently personal:

a) The legal personal certificate (a copy of the testimony) and legal background in accordance with the rule of law;

b) The documents demonstrate the capacity to be provided by the regulation at 1.4 paragraph 1 Article 5 This message.

5.3. Commercial banks ' validation of the number of capital provisions at the bank's blockade account, which has the number of capital provisions submitted by each shareholder (or member) founded or contributed from 10% of the specified capital.

5.4. The commitment text of the shareholders (or members) that contributes to the funding of the insurance business, the foreign branch is a legal source, not a loan or investment trust in any form.

6. Rules, terms, insurance costs of the insurance products that are expected to deploy. This regulation does not apply to the proposed record for the establishment and insurance brokerage enterprise.

7. Evidence that demonstrates the construction and setting of technical facilities for insurance business activities including:

a) The right to use the location is expected to set the headquarters and branches of the business (if any) established;

b) The setup is ready to system infrastructure, equipment, information technology software that ensures support of the business activities, the monitoring of business activities adheres to the provisions of the law and the internal processes of the business. Insurance, foreign branch.

What? 8. The profile offers to form a license to establish and operate the insurance holding company.

1. The filing recommended a license to establish a insurance holding company that includes the following documents:

a) The documents prescribed at this Article 7;

b) The meeting of the investors ' meetings on:

-In addition to the creation of the insurance holding company, it comes with a list of founding shareholders, or 10% of the capital's capital.

-Through a draft of the organizational and operational charter of the insurance holding company.

c) The authorship of the authorization for a representative of the investment owners is responsible for implementing the proposed procedures granting the license to the establishment of the insurance holding company.

d) The pledged text of the investment owners to contribute to the provision of regulatory capital regulations by regulation of 1.2 paragraph 1 Article 5 This information.

2. The specified margin at point b and point c 1 This must have the signature of all the investment owners as the founding shareholder of the capital.

What? 9. The profile offers to license the establishment and operation of the insurance company.

The file recommended granting a license to establish a insurance company that includes the following documents:

1. The specified documents at this Article 7.

2. The meeting of the investor ' s meeting (for the filing of the proposal to establish 2-member-member Ltd) on:

-In addition to the creation of the insurance company, it comes with a list of founding members, or 10% of the capital.

-Through a draft of the organizational charter and operation of the insurance company Limited.

3. A joint venture contract (for domestic organization cases and foreign organization jointly funded by the two-member insurance company).

4. The text of the competent agency of the country where the owner of the investment is based (for the foreign investment owner) confirmed:

a) The investment owner is allowed to establish an insurance business in Vietnam;

b) The investment holder does not seriously violate the regulations on insurance business practices and other law regulations of the country where the investment holder is headquartered in three (03) years adjacent to the year filing a license to grant the license;

c) The text of the competent agency of the country where the headquarters of the capital headquarters confirms the investment holder is in a healthy financial condition as of the end of the fiscal year adjacent to the five-issue licensing offer.

The law school of the country where the owner of the headquarters does not rule the authorities with a written authority, there must be confirmation evidence.

5. The authorized text for the expected person will be appointed as the General Manager (Director) in Vietnam (for the proposed record of the license to establish a 1 member) and the legally mandated personal certificate of the authorized person (public copy). according to the law.

What? 10. The profile offers to license the establishment and operation of foreign branch.

The profile offers to grant the establishment and operation of foreign branches including regulatory documents at paragraph 6, paragraph 7, paragraph 8 Article 10 of the Digital Protocol. 123 /2011/NĐ-CP And the documents are regulated at this Article 7.

What? 11. The procedure for the establishment and operation licensing procedure

1. The filing offers a license to establish and operate the insurance business, the foreign branch sent to the Ministry of Finance three (03) orders, which has a minimum of one (01) set as the main. For the proposed filing of the license issued by the foreign insurance business or foreign partners, each set includes a copy in Vietnamese and one in English. Documents with signatures, titles, seals of foreign countries at the filing of a permit issued a license to obtain a legal legalization. Vietnamese-language copies and translations from foreign languages to Vietnamese must be attested by law. The owner of the investment is responsible for the accuracy of the proposed record of the establishment and operation licenses.

2. During the thirty (30) days from the date of receiving the profile of the investment holder's license, if the profile is incomplete and valid, the Ministry of Finance announces the written statement to the additional investment holder, revision of the profile. The additional deadline, the modification of the maximum investor profile is six (06) months from the date of the announcement. An additional non-complementary investment case, which amends the filing under the specified deadline, the Ministry of Finance has a written refusal to review the license level. The review deadline, the license level is calculated only since the filing of a full, valid license level.

3. During the sixty (60) days of the day since the date of receiving the full record and the validity of the investment holder, the base on the actual appraisal results of the Ministry of Finance on the basis of technical material, the Ministry of Finance granted the establishment and operation of the insurance business. In addition, the foreign branch is prescribed by Appendix 2.

What? 12. The insurance business content, the foreign branch must perform before the official operation is officially operational.

1. In the thirty days (30) days of the day since the date of being granted the established and operational license, the insurance business, the foreign branch must carry out the procedures below:

a) Complete the procedure of appointing the Chairman of the Board of Directors (Chairman of the Board of members, Chairman of the Company), General Manager (Director) of the insurance business; General Manager (Director) foreign branch;

b) The operation is in accordance with Regulation 1 Article 9 of the Digital Decree 45 /2007/NĐ-CP (for the insurance business) and the sum of 1 Article 15 of the digital decree 123 /2011/NĐ-CP (for the foreign branch).

2. In the twelve-month (12) months, since the date of the creation of the established and operational license, the insurance business, the foreign branch must complete the procedures below to officially operate the insurance business:

a) Nblisters of the state budget for issuing a licence fee under the rule of law;

b) The transfer of capital sent at the blockade account into a charter capital (or capital granted) after being established and operated by the Ministry of Finance;

c) Nbb enough funds to be prescribed at Article 6 of the number 46 /2007/ND-CP (for insurance business) and paragraph 2 Article 19 Digital Protocol 123 /2011/NĐ-CP (for the foreign branch) at a commercial bank;

d), mark, register the tax code, open a transaction account at the bank according to the rule of law;

There are procedures for the Ministry of Finance:

-Approval of the plan to extract the business of the case under the rule of law. This regulation does not apply to the insurance brokerage business;

-Approval of the planned insurance product, which approx the title of expert calculation, approx the method of separation of funds and the surplus division between the equity fund and the co-equity fund sharing interest (for the life insurance business);

-Approval of health insurance products (for insurance business businesses, foreign branches business insurance business);

e) enacted the process of exploitation, regulation, compensation, internal control, financial management and investment, reinsurance program management.

3. If the 12-two (12) deadline dates from the date of the creation of the established and operational license, the insurance business, the foreign branch does not begin operations, the Finance Ministry will revoking the established and operational license granted to the business, the branch.

Item 2

CHANGE OF CREATION AND OPERATION CONTENT

What? 13. Change your insurance business, foreign branch

1. The insurance business, the foreign branch that wants to rename the business, the branch must send to the Ministry of Finance 01 of the documents that include the following documents:

a) Text to change the name of the business, the branch according to the prescribed form at Annex 3 issued by this message;

b) The accepted text of the granted authority pursues to the Regulation and Operations Charter (for the insurance business) or the Regulation and Operations Regulation (for the foreign branch) on the renaming of the business, the branch.

2. In the twenty-one (21) days of the date from the full date of the filing of the specified file at 1 Article, the Ministry of Finance issued a prescribed license under the prescribed form at Appendix 7. In the case of refusal to accept, the Ministry of Finance must specify a degree in writing.

What? 14. Increase or decrease the rate of regulation (or capital granted)

1. The insurance business wants to change the charter capital level, the foreign branch wants to change the level of capital that is granted to the Ministry of Finance 01 of the documents that include the following documents:

a) The proposed text is changed the charter capital level (or capital granted) by the specified template at Annex 3 issued by this message;

b) The accepted text of the grant has jurisdiction over the change of the charter capital level (or capital granted);

c) The method of increasing the charter capital (or capital is granted). The specified capital increase (or capital) of the specified capital (or capital) needs to be specified:

-Demand increased capital and capital use;

-Business effectiveness on a new (or capital) charter capital;

-Governance capacity, management capacity, surveillance of insurance business, external sales branch to capital scale and increased operational scale;

-The feasibility of the capital increase: the total capital increase, the method and time of capital raising.

d) The shareholder list (or member) is expected to own from 10% of the return charter of the insurance business after capital increases; the document that proves shareholders (or members) meet regulatory conditions at paragraph 1 Article 4 and Article 5 This Smart (rule). This is not applicable to shareholders (or members) that have owned up to 10% of the capital's upward insurance capital before capital increases.

The regulatory capital reduction (or capital that is granted) must prove that the insurance business, the foreign branch guarantees the payment of all other debt and other asset obligations after the loss of capital. The reduced capital was not implemented for a member.

2. In a time of fourteen (14) days from the date of receiving eligible valid records at 1 Article, the Ministry of Finance announced in writing of the approval or refusal to accept the recommended capital change (or capital granted). In the case of rejection, the Ministry of Finance must specify the reason.

For an increase in the charter capital by the method of releasing the stock to the public, after being approved by the Ministry of Finance in principle, the insurance business makes its release under the provisions of the Securities Law.

3. During the time of the six (06) months from the date approved by the Ministry of Finance to offer a change of charter capital (or capital granted), the insurance business, the foreign branch that completes the change of capital and submit the Finance Ministry a (01) of the filing included:

a) The summary report on the results of the implementation of the regulatory capital change (or capital granted) relative to the change of capital was approved by the Ministry of Finance;

b) Evidence that shareholders (or members) have already submitted enough capital amounts to the business, branch (for the case of capital increases); proof of corporate proof, the branch has completed the payment, payment to shareholders (or). ) which contributes to the amount of capital that is reduced (for the loss of capital).

The case did not implement the approved capital change method, the insurance business, the foreign branch had to report the Ministry of Finance to the disposal.

4. During the time of seven (07) days of work since the date of receiving valid valid records at the expense of this 3 Article, the Ministry of Finance issued a prescribed license under the prescribed form at Appendix 7.

What? 15. Open or terminate branch activity, representative office

1. Open the branch, the representative office of the insurance business

a) The insurance business wants to open the branch, the representative office must meet the stipulation conditions at 1 Article 11 Digital Protocol. 45 /2007/NĐ-CP and the following specific instructions:

-equity and charter capital have contributed to the regulatory conditions of the law;

-No administrative violation of a total of 200 million or more of these violations in the insurance business sector within twelve (12) months as of the time of filing the opening of the branch, the representative office;

-There is a suitable information technology system, which guarantees support for the business operations of the insurance business;

b) The profile offers to open the branch, the office office is made in accordance with the provisions at paragraph 2 Article 11 of the Digital Protocol 45 /2007/NĐ-CP and the following specific instructions:

-The offer is to open the branch, the representative office under the prescribed pattern at Annex 3 issued by this message;

-The approval text of the competent authority pursues to the Regulation and Operations Charter of the insurance business on the opening of the branch, the representative office;

-Judicial Li, the certificate office (a copy of the certificate) that demonstrates the expected presentation of the expected head of the branch, the representative office;

-Evidence of the experience of the head of the branch, the representative office;

-Proof of the head of the branch, the representative office terminated the labor contract with the old unit;

-Draft the organizational Regulation and operations of the branch, the representative office guarantees no contrary to the rule of law and the organizational and operational charter of the insurance business;

-Evidence of the right to use the location of branch headquarters, representative office;

-Branch proof, established representative office has established a system of information technology software that meets the regulation at point a, paragraph 1 This.

c) In the twenty-one (21) days of time since receiving sufficient valid records by regulation at point b 1 This, based on actual appraisal results, the Ministry of Finance has written approval or refused to approve the license. In the case of refusal to accept, the Ministry of Finance must specify a reason. In the case of approval, the Ministry of Finance issued a prescribed license under the prescribed form at Appendix 7.

d) The branch, the representative office of the insurance business must be formally operational in the time of six (06) months from the date granted by the Ministry of Finance. If this deadline, the branch, the representative office of the insurance business does not begin operation, is revoked in the Adjustment Permit.

2. End the operation of the branch, the insurance business representative office.

a) The insurance business at the end of the operation of the branch, the representative office must submit the One (01) Ministry of Finance to the proposed termination of the operation to include the following documents:

-The document proposes to end the operation of the branch, the representative office under the prescribed pattern at Annex 3 issued by this message;

-The approval text of the competent authority pursues to the Regulation and Operations Charter of the insurance business on the termination of branch operations, representative office (original);

-Report the operational situation of the branch, the representative office in the last three (03) years. In the branch case, the office of the representative office has not yet been three (03) of the year reporting the operational situation since the beginning of operation;

-Responsibility, issues of birth and treatment at the end of branch activity, the office of the electric office.

b) In the twenty-one (21) days from the date of receiving eligible valid records at this point, the Ministry of Finance has a written approval or refused approval. In the case of refusal to accept, the Ministry of Finance must specify a reason. In the case of approval, the Ministry of Finance issued a prescribed license under the prescribed form at Appendix 7.

3. The procedure to open or terminate the operation of the branch, the electric office of the insurance business abroad performs under the laws of the insurance business, law on investing abroad and must be approved by the Ministry of Finance. The procedure is recommended by the law of the current law.

What? 16. Change the location of its headquarters, branch, representative office and business location.

1. The insurance business wants to change the location of its headquarters, branch, representative office; the foreign branch wants to change the location of the headquarters that must be sent to the Ministry of Finance (01) the case includes the following documents:

a) The proposed text changes the location of the headquarters, the branch, the representative office according to the prescribed form at Annex 3 issued by this message;

b) The accepted text of the competent authority pursues to the Regulatory and Operations Charter (for the insurance business) or the Regulation and Operations Regulation (for foreign branch) on changing the site to its headquarters, branch, office, and office. representative;

c) Evidence of the right to use the location of the headquarters, branch, office of representation.

2. In the twenty-one (21) days from the date of receiving eligible valid records at 1 Article, the Ministry of Finance has a written approval or refused approval. In the event of a refusal to accept the reason.

3. During the fifteen (15) days from the date of changing business points (including opening and ending operations), the insurance business, the foreign branch must notify the Ministry of Finance and customers who know about those changes.

What? 17. Change of content, scope and time of activity

1. The insurance business, the foreign branch wants to expand the content, scope and duration of operation to meet the stipulated conditions at 1 Article 12 digital decree. 45 /2007/NĐ-CP and the following specific instructions:

a) The equity and capital capital that has contributed (or the granted capital) to meet the conditions under the rule of law;

b) Non-administrative violation of a total of 200 million or more of these violations in the insurance business sector within twelve (12) months as of the time of filing proposals extending content, scope and time of operation;

c) For the case of content expansion, the scope of operations, the head of the content deployment division, the newly expanded operational range must meet the specified standard at Article 28 of this Information;

2. The insurance business, the foreign branch who wants to change the content, scope, and the operating deadline must submit the One (01) Ministry of Finance to approve the approval.

3. The profile offers to change the content, scope and duration of the activities of the insurance business including the following documents:

a) The proposed text is extended (or narrowing) the content, scope and duration of operation under the prescribed pattern at Annex 3 issued by this message;

b) The approval text of the granted authority pursues to the rules of the organization and operation of the insurance business on the expansion (or narrowing) content, scope, and time of operation (original);

c) The rule, clause, the cost of the new insurance product is expected to deploy (if any) for the application of content expansion, operating range;

d) A copy of the evidence of documents, certificates, evidence evidence, qualifications, working experience of the expected head of the department to deploy the content, new activity range expanded (for the case of applying for content expansion, scope, etc.) active service);

The solution of the solution to the insurance contracts is in effect, the obligation to process obligations on the relevant parties in the case of a narrow, functional range.

4. The profile offers to change the content, scope and duration of the activity of the foreign branch carried out by regulation at point a, point b and point 2 Article 16 of the Digital Protocol. 123 /2011/NĐ-CP.

5. In the twenty-one (21) days from the date of receiving valid valid records at paragraph 3 This Article (for insurance business) and paragraph 4 This Article (for foreign branch), the Ministry of Finance has an answer to either the approval or the word. deny the business ' s offer, the branch. The refusal of the agreement should be clear. In the case of approval, the Ministry of Finance issued a prescribed license under the prescribed form at Appendix 7.

What? 18. Divide, merge, merge, merge, convert the insurance business form

1. Split, split, merge, merge, transform the form of insurance business is done under the regulation at the Enterprise Law, Article 16 of the Digital Protocol 45 /2007/NĐ-CP (for the case of division, separation, merge, merger), Article 42 Digital Protocol 123 /2011/NĐ-CP (for the case of formalization), other laws of law have specific relevance and guidelines at this Smart.

2. Organization, individuals who contribute to the insurance business after division, separation, merge, merge, conversion of the form must meet regulatory conditions at paragraph 1 Article 4 and Article 5 of this.

3. The insurance business formed after the split, separation, merge, merger, form conversion must meet regulatory conditions at paragraph 2, paragraph 4, paragraph 5 and paragraph 6 Article 4 This message (corresponding to each of the established business types). after the split, split, merge, merge, convert the form).

4. Split, merge, merge, merge, transform the form of insurance business is not made to affect the legal rights and interests of the insurance buyer, the worker and the State; ensure that maintaining the steady functioning of the insurance business.

5. Split, merge, merge, merge, transform the form of insurance business must be approved by the Ministry of Finance prior to the execution.

6. The procedure of offering approval of the split, separation, merge, merger, conversion of the insurance business:

Prior to the implementation of the split, separation, merge, merger, conversion of the form, the insurance business must submit to the Ministry of Finance one (01) the proposed filing order includes the following documents:

a) The proposed text is divided, split, merged, merged, convert the insurance business in accordance with the prescribed form at Annex 4 issued by this message;

b) The accepted text of the competent authority pursues to the organizational and operational Charter of the insurance enterprise on the division, separation, merge, mergers, transformation of enterprise form;

c) The report on the dividing method, which handles the contract in effect with the customer, the debt obligation, obligations to the State, committed to the worker when split, split, merge, merged, converted the form of insurance business;

d) List of shareholders (or members) of capital, charter capital and regulatory capital structure of the insurance business formed after division, separation, merge, merger, conversion of form;

p) Contract contracts for merger, merger (for merger integration case, merger (copy of the witness);

e) The opinion of the established body and the legal operation has the function of determining the value of the asset, which specifies the determination of the rate of equity conversion or the portion of the contribution of capital (for the merged case, the merger); determine the value of the distribution asset. divided by the parties (for division, separation of insurance businesses);

g) Financial reports have been audits for three (03) years adjacent to the merger year, the merger of the merged organization, merged with the insurance business (copy of the witness). The case for a period of time since the end of the nearest fiscal year to the time of the filing of the merger, the merger exceeded ninety (90) days, that the organization had to submit additional financial statements to the nearest quarter;

h) Primary background, legal individual certificates under the rule of law to shareholders (or members) that are inherently new; a certificate of business registration for shareholders (or members) is a new capital organization that owns up to 10% of the capital. the upward charter of the insurance business (copy of the testimony);

i) The degree, proof of the competence of the administrator, the executive is expected to be the new appointment of the insurance business after the split, separation, merge, mergers, form conversion (copy of the witness);

n) The proof of organizational proof, the individual who contributes to the insurance business after division, separation, merge, merge, conversion form response to regulatory conditions at paragraph 2;

l) The proof that the insurance business is formed after division, separation, merge, merger, conversion of the form meets regulatory conditions at paragraph 3 This.

7. For a period of fourteen (14) days from the date of receiving eligible valid records at paragraph 6 This, the Ministry of Finance has the written consent document or refuses to approve the insurance business ' s proposed method. The refusal of the agreement should be clear.

In the time of the seven (07) days of work since the completion of the split, merge, merge, conversion of form according to the approved method, the insurance business must report the Ministry of Finance to perform. In the absence of the approved method, the insurance business must report the Ministry of Finance to process.

In the time of seven (07) working days since the date of receiving the insurance business ' s report on the results of the implementation of the split, separation, merger, merger, conversion of the form, the Ministry of Finance granted the establishment and operation under the prescribed pattern at Women. The two boards are on this one.

What? 19. The equity transfer, the capital contribution from 10% of the charter capital returns

The equity transfer, which contributed from 10% of the adjusted capital of the insurance business under regulation at the point of E 1, paragraph 2 Article 69 The Insurance Business Law, Article 16 of the Digital Protocol. 45 /2007/NĐ-CP and the following instructions:

1. The transfer of the shares, the portion of the capital that accounted for from 10% of the upward capital of the insurance business belonging to one of the following cases:

a) The transfer is then, an individual who holds 10% of the charter capital or an organization holding from 10% of the value of the insurance business;

b) The transfer followed, an individual who no longer holds 10% of the charter capital or an organization no longer holds from 10% of the insured's return capital.

2. Terms of transfer execution:

2.1. The implementation of the transfer does not affect the legal rights and interests of the insurance buyer, the employer, and the State; ensure that it maintains the steady functioning of the insurance business.

2.2. The transfer must be approved by the Ministry of Finance prior to the implementation.

2.3. For the case of the recipient of a transfer of 10% to less than 100% of the value of the insurance business: organization, the transfer recipient must meet the regulatory conditions at 1 Article 4 and this Article 5 (corresponding to each type of form). The insurance business of the recipient's office.

2.4. For the case of the transfer of 100% the charter capital of the insurance business:

a) The organization, the recipient of the transfer must meet the regulatory conditions at point 2.3.

b) The insurance business that comes after the transfer must meet regulatory conditions at paragraph 2, paragraph 4, paragraph 5 and paragraph 6 Article 4 (corresponding to each type of insurance business).

3. The procedure recommended approval of the transfer

Prior to the transfer of the transfer, the insurance business must submit to the Ministry of Finance one (01) the proposed filing order. Documents with signatures, titles, seals of foreign countries at the profile (if any) must be legally valid. Vietnamese-language copies and translations from foreign languages to Vietnamese must be attested by law. The parties making the transfer and receiving the transfer must be responsible for the accuracy of the proposed record of ratification of the relevant transfer.

The proposed filing approved the transfer of the following documents:

3.1. The text offers to approve the transfer by the prescribed form at Annex 5 issued by this message.

3.2. The approved text of the grant is prescribed by regulation at the Organizational Regulation and the activities of the insurance business on the implementation of the transfer.

3.3. For the case of the transfer party and the recipient of the transfer is the organization: there is a document of the authority under the prescribed authority at the Charter Charter and the operation of the transfer party (for the case of transfer stipulated at the point of a Article 1). Here, the transfer side of the transfer fee (for the transfer of the specified transfer at the point b 1 Article) the approval of the transfer;

3.4. Transfer principle contract (if available);

3.5. For the specified transfer case at point 2.3 paragraph 2 This must add the following documents:

a) The documents that demonstrate the transfer of the transfer meet regulatory conditions at point 2.3.

b) The list of shareholders (or members) of capital contributions and capital structures after the implementation of the transfer.

3.6. For the specified transfer case at 2.4 paragraph 2 This must add the following documents:

a) The document stipulated in a three-paragraph sum of three.

b) The documents that prove that the insurance business that formed after the transfer meet the regulatory conditions in place of 2.4 paragraph 2 This.

In the twenty-one (21) days of the date since the date of the receiving of valid records, the Ministry of Finance has an approved text or refused to approve the insurance business ' s offer. The refusal of the agreement should be clear. In the case of approval, the Ministry of Finance issued a prescribed license under the prescribed form at Annex 7 issued by this message or issued a license to be established and operated under the prescribed form at Annex 2 issued by this Information.

What? 20. Dissolving the insurance business, foreign branch

1. Business insurance is dissolved under the regulatory circumstances at Article 82 The Insurance Business Law.

2. Before the dissolution, the insurance business had to submit the Ministry of Finance one (01) the filing of the proposed dissolution and approved by the Ministry of Finance.

3. The filing recommended that the Insurance business dissolution include:

a) The application for the dissolution, the end of operation;

b) The decision of the granted authority pursues to the rules of the organization and operation of the insurance business in the event of voluntary dissolution if it is possible to pay the debts (original);

c) The proof of proof has made all the debt, the asset obligation of the insurance business includes:

-Report the implementation of obligations to the worker in accordance with the rule of law;

-Report the implementation of the debt obligations to the co-insurers, including the payment of the obligations to the limit on the insurance contract and the transfer of the insurance contract according to the regulation (for the insurance business business);

-Report to execute obligations with the State and other creditors;

-The tax agency ' s confirmation paper on the completion of the tax obligations (copy of the testimony).

d) The establishment and operation of the insurance business (original).

4. During the time of seven (07) days of work, since the date of receiving a valid valid profile at paragraph 3 This, the Ministry of Finance makes the decision to dissolve the insurance business.

5. The foreign branch does the dissolution, ending operations by regulation at Article 22 of the number of countries. 123 /2011/NĐ-CP.

What? 21. Changing the Chairman of the Board of Directors (Chairman of the Board of Member, Corporate Chairman), General Manager (Director) of the insurance business; General Manager (Director) foreign branch;

1. The insurance business, the foreign branch before the appointment or change of President, the General Manager (Director) must send the Finance Ministry 1 sets of notice and be approved by the Ministry of Finance.

2. The profile offers to change the Chair, the Director General (Director) includes the following documents:

-The proposed text changes the President, General Manager (Director) according to the prescribed pattern at Annex 3 issued by this message;

-The approval text of the granted authority pursues to the Regulation and Operations Charter (for the insurance business) or the Regulation and Operations Regulation (for foreign branch) on the change of President, General Manager (Director);

-Judicial law; legal individual certificates (a copy of the testimony) under the law; the degree, certificate of certificate of qualifications and the expertise of the expected person appointed as President, General Manager (Director) (copy). evidence);

-The expected document of the expected person to be appointed President, General Manager (Director) on working for the insurance business, the foreign branch when approved by the Ministry of Finance.

3. During the twenty-one (21) days from the date of receiving eligible valid records at paragraph 2 Article, the Ministry of Finance has a written approval or refused approval. In the case of rejection, the Ministry of Finance must specify a reason. If too long on the Ministry of Finance does not have the text of reply, the offer to change the Chair, General Manager (Director) of the insurance business, changes the General Manager (Director) of the foreign branch of the foreign branch to be approved.

Section 3

ORGANIZATION AND EXECUTIVE OF THE INSURANCE BUSINESS,

FOREIGN BRANCH

What? 22. Administrator, executive branch of the insurance business, foreign branch

1. Administrator, executive of the insurance business, the foreign branch stipulated at this Notice include: Chairman of the Board of Directors (Chairman of the Board of Directors, Chairman of the Company); General Manager (Director); Deputy Director General (Deputy Director); member. The Board of Directors (Member Council); Head of Control; Control Officer (for the non-establishment case of the business case); Head of the audit department, internal control; Chief Accounting; Chief of the Branch, Chief Office of Representative Office (for the insurance business); the head of the career department; the calculation expert (for the insurance business employees). life); professional planning and payment (for non-human life insurance business, business insurance business, foreign branch).

2. The appointment of the administrative functions, the executive of the insurance business, the foreign branch that performs as follows:

a) For the titles of the Chairman of the Board (Chairman of the Board of the Board, Chairman of the Company); General Manager (Director); computational expert (for the life insurance business), prevarable computing, and payment margin (partner). with its non-life insurance business, the business that specializes in health insurance, foreign branch: Insurance, foreign branch appointed after the approval of the Ministry of Finance under the rule of law.

b) Other titles in addition to the prescribed titles at the point of a 2 This Article: Insurance business, the foreign branch is actively appointed. In the thirty (30) days from the official date of appointment, the business, the branch must report the Ministry of Finance in accordance with the document-proof document, the experience of the appointment of the appointment of the appointment of the conditions, the criteria. By the rules of the law.

What? 23. The general standard of the administrator, the executive

1. Do not belong to an object that is prohibited from business management by regulation at paragraph 2 Article 13 Enterprise Law.

2. Not the person who has ever been in charge of criminal responsibility, is imprisoned but has not been cleared of the case or is being pursued for criminal responsibility, imprisoned or executed by the court of law by the rule of law.

3. Never been a representative of the insurance business of the insurance business that has been bankrupt (except for the case of bankruptcy for the impossibility of resistance), the foreign branch has lost its ability to pay, or the executive manager of the insurance business, details. the foreign branch is revoked the operating license by the breach in the insurance business.

4. Full of civilian behavior.

5. In three (03) years of continuity before the appointed time as administrator, run:

a) Not to be subject to administrative violation in the insurance business area with the form of being forced to dismiss the title of governance, the executive was approved by the Ministry of Finance or forced by the suspension of the insurance business, the foreign branch added. It is

b) Not to be dealt with discipline in the form of dismissal due to the internal process violation of exploitation, regulation, compensation, internal control, financial management and investment, reinsurance program management in the insurance business enterprise, reinsurance business, and insurance. insurance, foreign branch or insurance brokerage process insurance, internal control, occupational ethics rules in the insurance brokerage;

c) At the time appointed as the administrator, which runs the insurance business, the foreign branch is not directly related to the case that has been questioned by the authorities under the rule of law.

What? 24. The Standards of the Chairman of the Board (Chairman of the Board, Chairman of the Company)

The Chairman of the Board (Member of the Board, the Chairman of the Company) must meet the regulatory conditions at 1 Article 13 Digital Protocol. 45 /2007/NĐ-CP and the following instructions:

1. Common standards stipulate at Article 23 of this.

2. Have a degree in college or in college.

3. Direct work in the field of insurance, finance, minimum bank of the year (05) years or having a minimum operating management experience of three (03) years at the operating business in the insurance, financial, banking sector.

What? 25. The standard of the Board Member, Board Member, Head of Control, Controller (for the business case not to form the Board of Control).

1. Common standards stipulate at Article 23 of this.

2. Have a degree in college or in college.

3. Direct working in the field of insurance, finance, minimum bank of three (03) years or having an operating management experience from a room level (or equivalent) return to a minimum headquarters of two (02) years at the operating business in the field. Insurance, finance, banking.

4. Board of Directors and Board of Control (for the insurance holding company) must ensure the number of permanent members residing in Vietnam by regulation at the Enterprise Law and the Organization and Operations Charter of the company.

What? 26. The standard of the General Manager (Director) or the representative before the law

The Director General (Director) or a representative before the law must meet the stipulation conditions at 1 Article 13 Digital Protocol. 45 /2007/NĐ-CP and the following instructions:

1. Common standards stipulate at Article 23 of this.

2. Have a degree in college or in college.

3. Have a degree or certificate of training on insurance due to the training facilities on the established insurance and legal activities within and outside of the country.

4. There is a minimum of five (05) years of experience working in the insurance, financial, banking, including a minimum of three (03) years of holding the office of General Manager (Director) foreign branch or holding office from the Head of the Department, Head of the Department at Headquarters. It ' s the chief branch manager of the insurance business.

5. residing in Vietnam during the time of the incumbent.

What? 27. The standard of Deputy Director General (Deputy Director), Chief Accounting Officer, Branch Director, Head Office of Representative Office

1. Common standards stipulate at Article 23 of this.

2. Have a degree in college or in college.

3. Have a degree or certificate of training on insurance due to the training facilities on the established insurance and legal activities within and outside of the country.

4. There are a minimum of three (03) years of experience working in the field of insurance, finance, banking or field of expertise expected to be.

5. For the chief accountant, in addition to meeting the standards at paragraph 1, paragraph 2 and paragraph 3 This, which must meet the conditions, the standards of the accounting chief stipulated at the accounting law of accounting and a minimum of three (03) years of succession experience. accounting or audit in the field of insurance.

6. residing in Vietnam during the time of the incumbent.

What? 28. Standards for the head of the business department

Head of parts: research and development of products, exploitation, appraisals, compensation, reinsurance, investment and inspection, internal control must meet the following conditions:

1. Common standards stipulate at Article 23 of this.

2. Have a degree in college or in college.

3. Have a degree or certificate of training on insurance due to the established training facilities and legal activities within and outside of the country. For the head of the reinsurance or investment department must have a degree or certificate of reinsurance or investment training.

4. There are a minimum of three (03) years of experience working in the field of charge of charge.

5. residing in Vietnam during the time of the incumbent.

What? 29. The principle of assignment takes place

1. Member of the Board of Directors, Member Council member of the insurance business is not simultaneously as a Board Member, Member Council member of the business that operates in the same field (non-life insurance, insurance and maintenance). life expectancy, reinsurance or an insurance broker).

2. General Manager (Director), Deputy General Manager (Deputy Director) of the insurance business, foreign branches are not simultaneously working for the insurance business, other foreign branches operating in the same sector in Vietnam; General Manager, Chief Executive Officer and Chief Executive Officer. (Director) insurance business, foreign branch is not a member of the Board of Directors, member Council member of another insurance business operating in the same sector in Vietnam.

3. General Manager (Director), Deputy Director General (Deputy Director) The insurance business is only served as the head of the maximum of one (01) branch or representative office or business department of the insurance business. General Manager (Director), Deputy Director General (Deputy Director) of the foreign branch is only served as the head of the maximum of one (01) of the company's business division.

What? 30. The mission of the Appointed Actuary of the Life Insurance business.

1. The life insurance business must use a calculated expert to perform the following tasks:

a) Building the rules, terms and calculations of the premiums of insurance products, each year the arbiter arbitrate between the assumptions of charge compared to the actual implementation of each product.

b) Set up the insurance business under the rule of law.

c) The implementation of the fund and dividing the annual surplus of the sovereign fund of the insurance contracts on a fair basis, reasonable and adhering to the law. In the end of the fiscal year, the expert calculated a written report on the results of the insurance business, including a separate report on the separation of interest funds, which proposed the number of interest divided by the individual holder to grant the authority of the decision-making business.

d) evaluate the payment capacity of the life insurance business and report the Ministry of Finance on 15 monthly.

) A quarterly and yearly periodic, written report to the Board of Directors (Council of members, Corporate Chairman) on the status of financial situation and forecasts of the future financial situation of the life insurance business.

e) timely reporting by writing to the General Manager (Director), Board of Directors (Council of Membership, Corporation Chairman) on all unusual issues potentially adversely affecting the financial situation of life insurance business and the proposal to justify the development of the board. You can fix it. In serious cases that may affect the payment capacity of the life insurance business, the calculated expert must report directly to the Ministry of Finance directly.

g) Evaluation of reinsurance programs and reinsurance contracts before the Board of Directors, Board of Directors (Member Council, Chairman of the approved company).

h) Other tasks to ensure financial safety for the life insurance business.

2. The annual term, in the slowest term, is ninety (90) days from the end of the fiscal year, the calculated expert reports the Finance Ministry on matters relating to the mission of the calculated expert in accordance with this Article 1 Article. at Appendix 10 issued by this message.

What? 31. The standard of the Appointed Actuary of the Life Insurance business.

1. Training, which has a minimum working experience of ten (10) years of computation in the field of life insurance and has worked in this field minimum one (01) years since being a Fellow (Fellow) of one of the Association of Chartered Insurers. Internationally acknowledged as: the United Kingdom Insurance Mathematicians Council, the Scottish Insurance Society, the American Society of Insurance Mathematicians, The Australian Insurance Operators Association, the Australian Association of Insurance Insurers, the Society for the Insurance Council of Australia, and the Society of Insurance Accounters of Australia. Insurance operators are the official members of the International Association of Insurance Insurers; or have a minimum working experience of the year. (05) the year of computation in the field of life insurance since being a member (Fellow) of one of the above.

2. Not to violate the ethical code of conduct of insurance computing; not to be traced to criminal responsibility on charges related to his professional work.

3. As a worker at the life insurance business.

4. residing in Vietnam during the time of the incumbent.

What? 32. The procedure of appointment, change, termination of the Appointed Actuary by the Life Insurance Enterprise (Appointment).

1. Expert Appointment

a) Board of Directors (Member Council, Corporate Chairman) of the Life Insurance Enterprise or General Manager (Director General) (in the case of a non-board business, Board Member, Corporate Chairman) has the responsibility to appoint the board of directors. The calculation is to proceed with the provisions prescribed at this Article 30. Prior to the appointment of the calculated expert, the life insurance business must submit the Finance Ministry a (01) of the profile and must be approved by the Ministry of Finance's written approval.

b) The notification expert appointment message includes the following documents:

-The text announces the appointment of an appointment specialist with the signature of the Chairman of the Board of Directors (Member Council, Chairman of the Company) or General Manager (Director) (in the case of an enterprise without the Board, Board Member, Chairman). company);

-Diploma, certificate (a copy of the witness) demonstrates the capacity, qualifications, and proof of proof that work on the calculation in the field of life insurance of the person expected to be a calculated expert;

-The certificate of membership of the Association of Insurance Operators is recognized (copy of the testimony) by regulation at paragraph 1 Article 31 of this.

-The signing of the signing principle between an appointant is an accounting expert and the insurance business on the person expected to appoint an account expert will become the worker of the business after being approved by the Ministry of Finance (copy). Yes, indeed.

-The confirmed text of the International Insurance Mathematicians Association where the expert calculated is that the member states at 1 Article 31 of this information about the appointment of the appointment as an accounting expert by the insurance business that has not violated the code of ethics. The insurance calculation is calculated at the time expected to be appointed (original);

-The judicial background of the appointed appointer is the calculated expert (original).

2. Change expert calculation:

a) In the event of a change of expert calculation, the life insurance business must submit the Ministry of Finance a (01) of the notice of change notice and be approved by the Ministry of Finance.

b) The profile change notification profile includes the following documents:

-The text-free message of the calculated expert has been approved by the Ministry of Finance. The notification text of the insurance business must have the signature of the President or General Manager (Director General) (in the case of a business without a Board of Directors, Board of Member, Corporate Chairman);

-Other documents stipulate at the point b 1 Article.

3. End the legal status of computing professionals

a) The computation expert will naturally end its legal status in the following circumstances:

-End of membership of the Association of Insurers is recognized;

-Life insurance business offers to end the legal status of computing professionals.

b) Life insurance business must inform the Ministry of Finance in writing at the end of the legal status of the calculated expert.

4. In the term eleven (11) days, since the date of receiving eligible valid records at the point b 1 or point b 2 This, the Treasury has an approved text or refused to approve the appointment, changing the accounting expert of the insurance business. Life expectancy. In the case of refusal to accept, the Ministry of Finance must specify a reason. If the term too long on the Treasury does not have an answer text, the appointment, changing the calculation expert of the life insurance business, of course, is approved.

What? 33. The mission of the professional planning and payment of life insurance business, the business insurance business, the foreign branch.

1. Non-human life insurance business, business health insurance business, foreign branch must use a business reserve accounting specialist and the ability to pay for the following tasks:

a) Building the rules, terms and insurance costs of the insurance products, annually assessing the difference between the assumptions of charge compared to the actual implementation of each product;

b) Set up the insurance business under the rule of law;

c) Assessment of the compensation situation of non-human life insurance business, the business that specializes in health insurance business, foreign branches; and more.

d) The quarterly valuation of the ability to pay the payment of the life insurance business, the business of health insurance business, foreign branch and validation in the report of the ability to submit the Treasury to the provisions of the law;

) Evaluating the reinsurance program and reinsurance contracts before the Board of Directors, Board of Directors (Member Council, Corporate Chairman) approx;

e) At the end of the fiscal year, the expert in charge of the business department and the ability to pay a review of the assessment report on the results of the investment activity of the nonprofit insurance business, the business insurance business, the foreign branch, among others. It states that the risks arise and propose on investment assets, the investment deadline of each asset type that guarantees the compatibility between the investment assets with the responsibilities that are committed to the insurance contract.

2. In the second term (02) of the year since this Private Day is in effect, non-life insurance business, business health insurance business, foreign branch must use a business reserve computing expert and the ability to pay for the payment of the business. You know, the task force is done at this one.

What? 34. The standard for prevarable planning and payment of non-human life insurance business, the business that specializes in health insurance business, foreign branch, and industry.

1. Have a degree in college or in college.

2. There is experience working at least five (05) years in the insurance sector.

3. There is a degree in insurance coverage provided by domestic or international recognized training facilities.

4. No administrative punishment in the insurance business sector in the three (03) years of continuity before the expected time of being appointed.

5. residing in Vietnam during the time of the incumbent.

What? 35. Professional registration of the business reserve and payment capacity of the life-life insurance business, the business insurance business, the foreign branch, and the United States.

1. Non-human life insurance business, business insurance business, foreign branch must submit Finance One (01) a professional registration filing that calculs the business of business ventures and the ability to pay the business of the business, branch. The registration profile includes the following documents:

a) The application for a professional registration calculation and the ability to pay the signatures of the President or General Manager (Director) of non-human life insurance business, business expert health insurance business, foreign branch;

b) The degree, certificate (a copy of the testimony), the expected preliminary of the expected person to be appointed as an expert in the calculation of the business and the ability of the business, the branch.

2. The Treasury Department appraisal of the professional registration profile calculation and the ability to pay the life insurance business, the business that specializes in health insurance, foreign branches. In the case of necessity, the Ministry of Finance may ask the intended person to be appointed as an expert in charge of the business department and the ability to make a convincing payment of the ability to meet the prescribed tasks at 1 Article 33 of this.

3. In a time of eleven (11) days from the date of receiving eligible valid records at 1 Article, the Ministry of Finance must respond in written approval or refuse approval. In the case of refusal to accept, the Ministry of Finance must specify a reason. If too long on the Ministry of Finance does not have an answer text, the offer to register the professional registration calculation expert and the ability to pay for the life insurance business, the business that specializes in health insurance, the water branch. But, of course, it's approved.

What? 36. Check, internal control

The insurance business, the foreign branch that performs inspection, internal control by regulation at Article 15 of the number of countries. 45 /2007/NĐ-CP and the following instructions:

1. The insurance business, the foreign branch must build, enact a prescribed career process at paragraph 1 Article 15 digital decree. 45 /2007/NĐ-CP And the test, internal control.

2. The business process of the insurance business, the foreign branch is the regulatory text on the deployment of operations, functions, duties, responsibilities and powers of each cadet at each department and the coordination mechanism between the cadres, parts of the business. Insurance, foreign branch. A career process must ensure the following requirements for the service of the test work, internal control:

a) The explicit authorship of the mandate, transparency of the mandate, the powers of the individuals, department in the insurance business, the foreign branch;

b) Define specific responsibility for each individual, the department in the implementation of each transaction.

3. Internal control, internal control must be independent of operating operations, business operations, and evaluation, detection in time of risk of adverse effects adversely affecting the efficiency and operational objectives of the insurance business, the branch of the branch. foreign, which reflects in time with the competent level of the insurance business, the foreign branch to take appropriate treatment.

4. The person who works in inspection, internal control must have a university degree or on the university; has experience working in the financial sector, banking, minimum insurance of three (03) years.

5. Required for the inspection process, internal control:

The process of inspection, internal control must be granted a regulatory authority at the Charter of Organization and Operations (for the insurance business) or the Regulation and Operations Regulation (for the foreign branch) issued in writing and must meet the requirements of the organization. After:

a) That allows cross-examination between individuals, the department to participate in a career process;

b) The insurance business, the foreign branch must inform the inspection process, internal control to all employees of the business so that the worker is aware of the importance and participation in an effective way into the test operation, control and control. Internal control;

c) The operator of the departments, the task unit, the relevant individuals must regularly review, evaluate the effectiveness and effectiveness of the inspection system, internal control; all defects of this system must be reported in time with the management of the system and the system. directly; major defects may cause damage or risk risk must be reported to the General Manager (Director), Chairman of the Board (Chairman of the Board, Chairman of the Company), Board of Control;

d) Head of parts of the insurance business, foreign branch reporting, assessment of test results, internal control at the department due to itself in charge of or within the scope of the assignment to be delivered; proposed treatment for existing, inadequable (if necessary). has) to send the management of the management level directly periodically or to a breakthrough at the request of the direct management leadership.

Section 4

INSURANCE COVERAGE

What? 37. Common principles in business and insurance premiums

1. Business insurance business, foreign branch implementing business and extraction of insurance in accordance with the following principles:

a) China, public, and transparent, avoids for customers to misunderstand products, services due to the business insurance business, the foreign branch offers;

b) employees of the insurance business, the foreign branch must ensure sufficient expertise, ethical qualities. Employees directly introduce, sell insurance, arrange for a minimum insurance contract to have an insurance agent or certificate of training in terms of the insurance business being deployed under the regulatory regime. Employees directly carry out reinsurance, compensated compensation and insurance payments must have a training certificate of this transaction due to established insurance training facilities, and legal activities.

c) Before the contract of the insurance contract must find a clear understanding of the necessary information about the customer, consider the financial capacity and expertise of the business, ensure maintaining the financial resources, payment capabilities, and risk management systems in the future. ro; ensuring no discrimination on the insurance conditions and the level of premiums between insurance subjects with the same level of risk;

d) Introduction to the product, service of the insurance business business, the foreign branch must be clear, easy to understand, not containing any information that can lead to the misunderstanding and not contrary to the rule, the insurance clause of the product without any information. the insurance business, the foreign branch is allowed to provide;

A product illustrator illustrator of insurance products (for products of life insurance and health insurance) is provided directly to the customer or through insurance agents, the insurance brokerage enterprise is allowed to be used directly to the customers. operation in Vietnam must ensure the following principles:

-The sales illustrator must have the approval of the calculated expert (for the life insurance business), the career planning professional and the ability to pay the payment (for the life-life insurance business, the professional enterprise). health insurance business, foreign branch) on the assumptions used to calculate before using to provide customers. The sales illustrator document needs to be clear, full and accurate to help customers with the right choice;

-For the fully valued products, the life insurance business presents in the illustrated document that sells the conditions to receive the refund and the rights, accompanied by the specific amount of money that the customer enjoyed when receiving the value. In return, but you have to make sure that these rights are warrantiable or unwarranable;

-Business insurance business, the foreign branch is responsible for the accuracy and updates of the introduction of the product ' s introduction of products, services of the insurance business business, foreign branch, sales illustrator documentation, and other financial assets. Other sales during the time of use;

-The sales illustrator must use the language that is consistent with the customer object.

e) If the insurance contract is not clear, when the insurance application, the business insurance business, the foreign branch needs to notify the customer by writing the following information:

-Duration or insurance charges (if any);

-Personal names or subordinated units of the insurance business business, foreign branch, address for customers to be able to contact the complaint of complaint, question, dispute regarding the delivery, execution, and termination of insurance contracts;

-Client's responsibility must notify the insurance business business, the foreign branch when there is a change to the address of the insurance buyer;

-annually, the life insurance business informs the parties to buy insurance on their contract status (for the products of the life insurance business);

g) Business insurance business, foreign branch is responsible for analyzing the needs of the customer to ensure customers of the insurance products and the appropriate amount of insurance. The analysis of demand and advice for customer execution by writing (for the life insurance product); and the product.

h) Business insurance business, foreign branch explained well and makes requirements that provide specific information to the insurance buyer. The insurance buyer is responsible for providing full information regarding the insurance subject for the insurance business business, the foreign branch; and the insurance business.

i) When the contract insurance is delivered, the business insurance business, the foreign branch is responsible for providing full coverage of the insurance contract, explaining the conditions, the insurance clause to the insurance buyer. The information provided by the business business, the foreign branch provided when the contract of the insurance contract is a constituent part of the insurance contract;

) Life insurance business must notify customers:

-The delivery of additional insurance contracts accompanied by the main insurance contracts is not mandatory conditions to maintain the validity of the main insurance contract; it is not required.

-The life insurance contract is reimbursable when it comes into effect and is to pay an insurance fee of enough twenty-four (24) months or more likely under the agreement at the insurance contract (for recurring insurance contracts) and effective immediately (for example). with a one-time cost insurance contract;

-The insurance business business is entitled to deduct the unreimbursable debt before the value payment is reimbursable to the insurance buyer.

What? 38. The acts are prohibited in insurance coverage.

1. Serious restrictions on organizations, individuals who intervene in law to choose the insurance business, the insurance brokerage, the foreign branch of the insurance buyer.

2. Do not use the influence of any organization, individual to request, prevent or compel the subordinate unit or those involved in the insurance business at a business insurance business, foreign branch in all forms.

3. Strict the business of insurance business, the foreign branch of prestige competition, influence and direction in all forms of any organization, individual to provide insurance services, which affects the right and key interests of the buyer ' s party, and the government. Okay, insurance

What? 39. Approval of the life insurance product and health insurance product.

1. Life insurance business before the deployment of life insurance products; business insurance business, foreign branch prior to the deployment of health insurance products must submit the Finance Ministry a (01) approval set of approval for a $1 billion year. Insurance products are expected to be deployed. The insurance business, the foreign branch must follow the right rules, the provision, the insurance charge approved by the Ministry of Finance.

2. The case of a life insurance business sells life insurance; the business insurance business, the foreign branch that sells health insurance directly to the insurance buyer and does not have to pay an insurance commission for the agent or the insurance brokerage, business. The insurance business, foreign branch, can reduce premiums for the insurance buyer for maximum premiums not exceeding the level of regulation by regulation at this level. The insurance business, the foreign branch is responsible for the construction of a reduced process, ensuring the fair for customer objects. Member Council (Board of Directors, President of the Company) of the insurance business business, the General Manager (Director) of the foreign branch is responsible for approving the process and the rate of charge applicable to the buyer's insurance and written notice. for the Ministry of Finance before applying.

3. The record offers to ratiate life insurance products, health insurance includes the following documents:

a) The text offers the Finance Ministry approval of the product in which the insurance business business is committed, the foreign branch is responsible for the content and legalization of the rule, the insurance clause;

b) The rule, clause, insurance charge of the insurance product is expected to implement the regulation at paragraph 4 Article 20 of the number of Protocol 45 /2007/NĐ-CP . Encouraged business businesses, foreign branches using rules, sample insurance terms built by the Vietnam Insurance Association;

c) The formula, method, and process of engineering facilities used for charging, the business reserve of the insurance product is expected to deploy.

For profitable life insurance products, the life insurance business is well defined in the cost basis of the insurance product expected to deploy the principle, the method and the rate of interest that is committed to paying customers.

d) The relevant documents include: insurance requirements form, product refereing document, insurance business enterprise, foreign branch, sales illustrator, single samples that customers prescribe and sign when purchasing insurance. These documents are a part of the insurance contract;

The profile offers to ratiate life insurance products, the signature health insurance of the person who represents the law of the insurance business, the foreign branch and the insurance industry ' s confirmation (for the insurance business). life) and professional planning and payment (for non-human life insurance business, business insurance business and foreign branch).

4. Content appraisal of life insurance products, health insurance

a) Check the validity of the proposed record of approval of the insurance product and the suitcases of the rule, the insurance clause with the existing law regulations. For insurance products built on the rule, the sample insurance clause, the Treasury Department only checks the validity of the proposed insurance product approval profile;

b) The economic, technical feasibility of the insurance product on the basis of the validation of insurance computing professionals (for the life insurance business), professional planning and payment accounting (for business). Non-human life insurance, business and foreign branch business.

c) The case of non-life insurance business, the foreign branch that exploit the package insurance products in which includes health insurance must implement regulation at this Article on the approval of health insurance products.

5. The deadline for the approval of life insurance products, health insurance

In the thirty (30) days, since the date of receiving eligible valid records at 3 This Article, the Ministry of Finance has a written approval or refused approval. In the event of a refusal to accept, the Ministry of Finance must specify the reason.

6. Non-Life Insurance Enterprise does not have to implement a health insurance product approval procedure that has been deployed prior to this date of the Notice effective. In the case of modification, the addition of these insurance products, the non-life insurance business must carry out the procedure for offering approval product approval at paragraph 3 and paragraph 4 This.

What? 40. Deployment of non-human life insurance products

Non-human life insurance business, foreign branch implementing non-life insurance products under regulation at paragraph 3 and paragraph 4 Article 20 of the number of arithmetic 45 /2007/ND-CP, Paragraph 4 Article 26 Protocol 123 /2011/NĐ-CP and the following instructions:

1. The premiums for the original insurance contracts are not lower than the reinsurance fee of that contract itself.

2. The case of rules, terms, the cost of the insurance product does not guarantee financial safety according to the regulatory regime for the nonprofit insurance business, the foreign branch and the influence on the rights of the insurance buyer, the Ministry of Finance requires. Non-human life insurance business, foreign branch, stop implementing that product to adjust accordingly.

3. Base at the request of the Ministry of Finance if at paragraph 2 of this, the non-life insurance business, the foreign branch must adjust the rules, terms, cost of insurance products, and report the Ministry of Finance approved prior to deployment. The report records include the following documents:

a) The text of the implementation of the implementation at the request of the Ministry of Finance has the signature of the representative before the law of the non-life insurance business, the foreign branch;

b) The rule, provision, toll of the insurance product after the adjustment;

c) The technical basis for the insurance product of the insurance product after having the signature of a signature of the business plan expert and the ability to pay the payment of the life insurance business, the foreign branch;

In the fifteen (15) days from the date of receiving valid records, the Ministry of Finance has a written approval or refused to approve the regulation. In the case of approval, the non-human life insurance business, the foreign branch that deplos the insurance product in accordance with the rules, the provision, the charge has been approved by the Ministry of Finance. In the case of refusal to accept, the Ministry of Finance must specify a reason.

4. During the fifteen (15) days per month, non-life insurance business, foreign affiliates report the Ministry of Finance of new products deployed in the previous month adjoining (if any) sample at Annex 8 issued by this message.

What? 41.

1. The insurance agent is the cost of the insurance business, the foreign branch pays directly to the insurance agent after the insurance agent brings services to the insurance business, foreign branch.

2. Business insurance business, the foreign branch is actively using the insurance agent commissions spend on the insurance agent to do one or the following content:

a) Introduction, sale of insurance;

b) Arrange The Delivery Of The Insurance Contract;

c) The cost of insurance;

d) The compensation settlement, which paid the insurance when the insurance event occurred;

There are other activities involved in the implementation of the insurance contract.

3. The ratio of maximum insurance agents to the insurance business, the foreign branch is allowed to pay the insurance agent for each of the insurance contracts made in accordance with the following regulation (except for the specified cases at this 3.5 point):

3.1. Maximum commission for non-life insurance business insurance contracts:

STT	Insurance type	Commission Rate (%)
1	Property insurance and damage insurance	5
2	Build and install insurance	5
3	Cargo and road transportation insurance, sea roads, rivers, railroads and air lines.	10
4	Hull protection and the responsibility of the ship ' s civil rights to sea ships and sea breeboats	5
5	Hull protection and civilian responsibility for ships of the river and fishing boats.	15
6	General liability insurance	5
7	Aviation insurance.	0.5
8	Motor vehicle insurance	10
9	Fire insurance, voluntary detonation.	10
10	Credit Insurance and Financial Risk	10
11	Business damage insurance.	10
12	Agricultural insurance.	20
13	Mandatory insurance:
	a) The civil liability insurance of the automobile owner	5
	b) Civil responsibility of motorcycle owners, motorcycles, etc.	20
	c) The civilian responsibility of the carrier ' s civil responsibility for passengers	3
	d) Career liability insurance for criminal justice activity	5
	The insurance business of the insurance brokerage.	5
	e) Fire insurance, explosion	5

3.2. Maximum commission for life insurance business insurance contracts:

a) For individual life insurance services:

-The case for each of the individual insurance business: The commission for life insurance is applied to the main insurance products according to the following table:

Life of Life Insurance	Maximum ratio of pink flowers on insurance charges (%)
	Recurring Insurance Charges			Payment Method 1 time
	The first five contracts.	The second five contracts.	The next five contracts
1. Death Insurance	40	20	15	15
2. Bioinsurance
-10 years of insurance.	15	10	5	5
-The insurance deadline for 10 years.	20	10	5	5
3. Mixed insurance:
-10 years of insurance.	25	7	5	5
-The insurance deadline for 10 years.	40	10	10	7
4. Life Insurance	30	20	15	10
5. Prevaluation Insurance	25	10	7	7

-The case incorporates separate insurance professions: The insurance rose is calculated on the basis of the total commission of the individual life insurance business states above.

b) For a business life insurance business: The maximum commission rate is equal to 50% of the corresponding rates applicable to individual life insurance services of the same type.

3.3. The maximum commission for health insurance contracts is 20%.

3.4. The insurance agent rose to the full insurance contracts charged with the total number of commissions of each risk being covered in the package insurance contract.

3.5. For insurance products deployed under the Prime Minister ' s decision-making program and products belonging to other insurance business other than the specified business at point 3.1, point 3.2 and point 3.3 point 3 This Article, the business is located. Insurance business, foreign branch, in accordance with the Ministry of Finance guidelines.

4. Insurance business, foreign branch not being paid by the insurance agent in the event of a business insurance business, the foreign branch provides insurance services through regulatory forms of bidding at Article 24 of the insurance business. Number Protocol 123 /2011/NĐ-CP.

5. Business insurance business, foreign branch based on the current regulation of the insurance agent commissions, its specific conditions and features to build the unified and public application of the most applicable and publicly applicable commission in the business. Insurance business, foreign branch.

What? 42. In case, limit loss

1. Business insurance business, foreign branch spending by a maximum of 2% of the premiums obtained in the fiscal year to spend on the precautions, limit the losses and costs.

2. Content in order to implement the precautions, limit the losses prescribed at paragraph 2 Article 25 of the Digital Protocol. 45 /2007/NĐ-CP.

Section 5

REINSURANCE ACTIVITY

What? 43. Reinsurance program manager

1. Reinsurance program approx:

a) To ensure safety, effectiveness in reinsurance business activities, Board of Directors (Board of Directors, Chairman of the Company), General Manager (Director) of the insurance business business, reinsurance business, General Manager (Director) details of the insurance business. The foreign branch is responsible for the approval of the reinsurance program in accordance with the financial competability, business scale of the business, branch and existing law regulations; review, review, regulation of reinsurance program periodically, and the following: Every year or when the market situation has changed.

b) The reinsurance program includes the following principal content:

-Determine the ability to accept the risk of the insurance business business, the reinsurance business, the foreign branch;

-Determine that the retention level is consistent with accepted insurance risk, the limit on retention levels on a risk unit and the maximum protection level from the business receiving reinsurance;

-Identify the types of forms and reinsurance methods best suited to the management of accepted risks;

-The method, standard, business choice process receives reinsurance, including how the business risk and financial safety assessment of the business receives reinsurance;

-The list of reinsurance businesses is expected to receive reinsurance, noting the diversification and ranking of the reinsurance houses;

-The method of using deposit of the recipient's deposit, if any;

-Risk management is accumulated for areas, geographic regions, and specific types of products;

-The way to control the reinsurance program, including the reporting system and internal control.

2. The organization performs a reinsurance program:

On the basis of the approved reinsurance program, the General Manager (Director) business insurance business, reinsurance business, foreign branch has a responsibility to enact processes, internal guidance on reinsurance business operations, and other business activities. specific including:

a) The insurance extraction process, which states the types of insurance products that are exploited; rules, insurance terms, and total liability levels according to the type of insurance product;

b) Define the automatic liability limit under fixed reinsurance contracts for each type of insurance;

c) Construction standard for temporary reinsurance contracts;

d) The reference to the rules, the terms of the original insurance contract with the provision of the reinsurance contract to ensure each risk is insured (for business insurance business, foreign branch).

3. Business insurance business, reinsurance business, foreign branch that is responsible for updating regularly on the list of businesses that receive reinsurance, accompanied by information on the level of risk, ability, level of readiness to pay compensation. usually corresponding to the responsibility of the reinsurance; the deposit requirement corresponds to the degree of risk, the number of people's credit system receives reinsurance.

What? 44.

1. Insurance business, reinsurance business, foreign branch must calculate retention levels for each type of insurance and according to each type of risk; the level of retention on a risk and on an insurance event.

2. When calculating retention levels, business insurance business, reinsurance business, foreign branch must consider the following factors:

a) The laws of law on the possibility of payment;

b) the capacity to exploit;

c) Financial capability;

d) The ability to be willing to accept the risks of the insurance business business, the reinsurance business, foreign branch;

The procurement of protection for major risks and disaster risks;

e) The balance of business activity outcomes;

g) The constituent elements of the insurance contract portfolio;

) Taking on the domestic and international reinsurance market.

3. Insurance business, foreign branches are only allowed to retain maximum liability levels per risk or on each individual loss of no more than 5% equity. The reinsurance business is only allowed to retain maximum liability levels per risk or on each individual loss of no more than 10% equity.

4. Insurance business, reinsurance business, foreign branch uninsured for the risks of reinsurance.

What? 45. Reinsurance.

1. Business insurance business, reinsurance business, foreign branch may move part of the liability that has received insurance for one or more insurance business businesses, reinsurance businesses, other foreign branches but not without the insurance business. was given all the insurance responsibility received in an insurance contract for the insurance business, the reinsurance business, the other foreign branch.

2. For limited reinsurance types (finite reinsurance), prior to the signing of the reinsurance contract, the insurance business business, the reinsurance business, the foreign branch has a written foreign branch signed by the representative law to sign the order. Financing the main content of the reinsurance contract, the purpose of contracting the contract, is committed to comply with the laws of insurance business and the applicable accounting regime for the business.

3. The reinsurance concession is not discriminated against between insurance business businesses, reinsurance businesses, foreign branches in Vietnam and foreign insurance business.

What? 46. The conditions of the business receive foreign reinsurance

1. The business that receives foreign reinsurance is working legally and fully meets the requirements for payment in accordance with the laws of the country where the business is based.

2. The business is at the head of reinsurance and the business receiving reinsurance from 10% of the total liability of each reinsurance contract must be ranked minimum "BBB +" according to Standard & Poor's or Fitch, "B + +" according to A.M. Best, "Baal " according to Moody's or Equivalent ratings of functional organizations, other ratings experience at the nearest fiscal year than the time of the reinsurance contract.

3. The case of reinsurance for the parent company abroad or companies in the same corporation without the prescribed credit rating rating above the insurance business business, the reinsurance business, the foreign branch must submit to the company ' s insurance business. The text finance of the foreign insurance regulator where the company receives reinsurance based on its own headquarters confirms the reinsurance company overseas to guarantee the ability to pay at the nearest fiscal year of the year receiving reinsurance.

Section 6

INSURANCE AGENT

What? 47. Insurance agent activity

1. Organization, individuals operating the insurance agent must meet the regulatory conditions at Article 86 Insurance Business Law, paragraph 10 Article 1 The amended Law, which complements some of the provisions of the Insurance Business Law and must comply with the principles of conservative agent operating. Regulations in accordance with Article 28 of the Digital Protocol 45 /2007/NĐ-CP.

2. Business insurance business, foreign branch implementing the right and obligations in the regulatory insurance operation under regulation at Article 29 of the number of insurance companies. 45 /2007/NĐ-CP.

3. The insurance policy that performs the right and obligations under regulation at Article 30 Digital Protocol 45 /2007/NĐ-CP.

4. The insurance administration is not done on the following acts:

a) Information, advertising the truth about content, the scope of the activities of the insurance business, the foreign branch, the conditions and the insurance terms that damages the rights, the legitimate interests of the insurance party.

b) The prevention of the insurance buyer provides information concerning the insurance contract or incitement to the insurance buyer, who is insured not to prescribe the details associated with the insurance contract.

c) Competition for customers in the form of preventing, enticing, buying, threatening employees or customers of insurance business, foreign branches, insurance agents, other insurance brokers.

d) Encouraging customers in the form of illegal form such as the promise to reduce premiums, cost of insurance or other rights that the business insurance business, the foreign branch does not provide to the customer.

) The insurance buyer rescints the existing insurance contract to buy new insurance contracts.

What? 48. Training agent for insurance

1. The insurance agent training program:

1.1. Basic training program:

a) The basic training program contents include:

-General knowledge of insurance (insurance principles, types of insurance types);

-The responsibility of the agent, the ethics of the profession;

-The insurance business.

-Rights and obligations of the insurance business business, foreign branch and insurance agent in the insurance agent operation; and the insurance business.

b) The minimum basic training time is 24 hours, learning focus.

1.2. Insurance product training program:

a) Content of the training program on insurance products including:

-Insurance skills;

-It's an insurance agent.

-The insurance product that dealerers planned to deploy.

b) The time of training on the insurance product for the first time is at a minimum of 24 hours, learning to focus.

1.3. The insurance business, the foreign branch has to do an update on the regulatory content at a point 1.1 and save a point 1.2 paragraph 1 This thing for the insurance agent in the direction of the Ministry of Finance.

2. The insurance agent training facility

2.1. Insurance agent training facilities include:

a) Vietnam Insurance Association: implemented basic training programs. The case wants to deploy the insurance business of the insurance business of the insurance business, the foreign branch has to coordinate with the insurance business, the foreign branch to implement;

b) Business insurance business, foreign branch: implemented a training program on the insurance products of the insurance business itself, the foreign branch and coordination with the Vietnam Insurance Association to implement the program, the insurance company, and the Vietnam Insurance Association. Basic training;

c) Other training organizations are legally established in Vietnam: the deployment of the basic training program on insurance.

2.2. The condition of the insurance agent training facility:

In order to train insurance agents, the Vietnam Insurance Association, insurance business businesses, foreign branches and training organizations must meet the following conditions:

a) There is a regulatory response training program at a point 1.1, save a point 1.2 paragraph 1 This Article (corresponding to the expected training content).

b) The faculty team meets the following standard:

-Have a diploma from college.

-There are a minimum of two (02) years of work experience or teaching in the insurance sector.

c) There is a technical basis for the training of training;

d) Written by the Ministry of Finance prior to the practice of training.

2.3. The procedure recommended for the implementation of the training:

Prior to the implementation of the insurance agent training, the training facility must submit to the Ministry of Finance a (01) case that includes the following documents:

a) The application is the basis for the training of the insurance agent under the prescribed pattern at Annex 11 issued by this message;

b) The copy of the License, the founding decision of the registration organization as the insurance agent training facility;

c) The insurance agent training pursuant to the regulation at a point 1.1, save a point 1.2 paragraph 1 This Article (depending on the expected training content);

d) List of faculty members, accompanied by a background of background, diploma, certificate of faculty;

Training processes, quality assessment processes;

e) Evidence of technical facilities that meet the training.

In the thirty (30) days from the date of receiving enough records, the Ministry of Finance has an approved text or refused to accept the offer of the insurance agent training facility. The case refused to specify a reason.

2.4. The case changes in training program content and the insurance agent training instructor, within thirty (30) days before the implementation of the new training course, the training facility must send the text to the Ministry of Finance recommended approv. It ' s a program of these changes. In the period of eleven (11) days from the date of receiving enough records, the Ministry of Finance has a written approval or refused approval. The case refused to specify a reason.

What? 49.

1. Training facilities in coordination with the Ministry of Finance of the organization and the level of the insurance agent.

2. The insurance agent certificate is issued according to the prescribed form at Annex 12 issued by this message.

3. For pilot insurance programs at the discretion of the Prime Minister and its specific insurance products, the enforcement and certification of only the insurance agent performs under the direction of the Ministry of Finance.

4. For insurance agent certificates that have been granted under the rule of law prior to this date of law in effect, the insurance agent continues to use this certificate to exploit the insurance product that has been trained. The rational case for the exploitation of new insurance products must be trained on that product (including the case of a contract signing contract with the new insurance business).

What? 50. Report Mode

1. Every year, the slowest time on January 30 of the following year, the insurance agent for the insurance agent reporting the Ministry of Finance for the number of organized training, the number of cadavers has trained, the number of caders has been granted in five prescribed patterns at Annex 13. This is an executive order.

2. Business insurance business, the foreign branch that is responsible for implementing the quarterly report mode as follows:

a) Slowly before the first 15 months of the following quarter, report the Ministry of Finance (in the form of electronic records and paper records) the list of insurance agents that are operating under the prescribed pattern at Annex 14 issued by this message;

b) Slowly ahead of the first 15 months of the following quarter, the announcement to the Ministry of Finance and the Vietnam Insurance Association list of agents violations of agency conduct or breach of law regulation has been covered by business insurance business, foreign branch, etc. terminate an end-of-sample contract at Appendix 15, issued by this message, to the Vietnam Insurance Association to inform business businesses, other foreign branches known.

Section 7

INSURANCE BROKER

What? 51. Environmental Activity Insurance

1. Insurance brokerage businesses must make a written agreement with the insurance buyer when implementing the original insurance brokerage service to the insurance buyer. The agreement must specify the content of the insurance brokerage stipulated at Article 90 of the Insurance and Insurance Business Laws, the responsibility of each party.

The reinsurance brokerage performed in accordance with international law and the provisions of the existing law.

2. The insurance brokerage business can be insured by the insurance business, the foreign branch that authorized the insurance toll, pay compensation or pay insurance. The mandate must comply with the following principles:

a) The authorization must be established in writing, which specifies the deadline and the scope of the authorized activities, the rights and responsibilities of each party.

b) For the case of an insurance brokerage business insurance business, the foreign branch authorized the insurance toll:

-The insurance cost of the insurance party's premiums is complete when the insurance party has closed the insurance premiums under the insurance contract for the insurance brokerage business.

-When the insurance party has cost premiums under the agreement at the insurance contract, the insurance brokerage business is responsible for payment of the premiums said above for the insurance business business, the foreign branch under the agreed deadline. between the insurance business business, the foreign branch and the insurance brokerage business but the maximum of no more than five (05) working days, since the date of the insurance fee.

c) For the case of an insurance brokerage firm that is insured by business, the foreign branch is authorized to pay the insurance or pay compensation:

-Business insurance business, foreign branch is still accountable to the insured, or the beneficiary of the amount of insurance that the business insurance business is insured, the foreign branch is obliged to pay for the insured or the insured. The beneficiary.

-Insurance brokerage business is responsible for payment of the amount of insurance to the insured or beneficiary in time not too year (05) the day of work since receiving the amount of insurance from the insurance business, branch of the insurance business. -Foreign.

d) The insurance brokerage business is only implemented for regulatory authorship activities at paragraph 2 Article if the activities are authorized in connection with insurance contracts arranged by the insurance brokerage. The insurance brokerage business is not receiving any revenues to carry out operations due to its insurance business, the foreign branch of the commission.

3. The employees of the insurance brokerage business directly implementing the insurance brokerage activity rules stipulated at Article 90 The Insurance Business Law must have a training certificate of insurance or insurance brokerage due to the insurance facilities on insurance. The establishment and the legal operation.

What? 52. Cooperation in the insurance brokerage operation

1. The insurance brokerage business is allowed to cooperate with other insurance brokerage enterprises established and legal operations in Vietnam to carry out insurance brokerage activity.

2. The procedure of regulation at paragraph 1 This must be agreed in writing, which specifies the responsibility, the rights and the ratio of the distribution of the insurance brokerage of each side.

What? 53. The behaviors are prohibited in the insurance brokerage activity

1. Prevent the insurance buyer, who is insured to provide information relating to insurance contracts or incitement by the insurance buyer, who is insured not to prescribe the details associated with the insurance contract.

2. Recommend customers in the form of promise to provide illegal rights to incitement to the customer to deliver the insurance contract.

3. The buyer of the insurance company rescints the existing insurance contract to buy new insurance contracts.

4. Consulting for customers buying insurance at a business insurance business, foreign branch with the conditions, the less competitive provision than the insurance business business, other foreign branches aiming to acquire the highest brokerage commissions in the United States. More.

5. Collaborate with the individual, organization (except for the insurance brokerage firm stipulated at 1 Article 52 This profile) to perform one or more of the work of the insurance brokerage process.

What? 54.

1. The ratio of the original insurance brokerage is determined on the basis of a deal between the insurance business business, the foreign branch and the insurance brokerage business in accordance with the Vietnamese law. In any case, the maximum coverage of the maximum insurance brokerage of every insurance service that collects through the insurance brokerage business is not exceeding 15% of the actual premiums obtained by the insurance business, the foreign branch.

2. The ratio of reinsurance brokers to be made under the agreement of the parties ensuring compliance with international customs.

Section 8

REPRESENTATIVE OFFICE OF THE INSURANCE BUSINESS

ABROAD IN VIETNAM

What? 55. Level the Office for Representative Office

1. Foreign insurance business who wants to book a representative office in Vietnam sent the Ministry of Finance a (01) set of records offering a license to place a representative office in accordance with regulation at Article 110 of the Insurance Business Law. Documents with signatures, titles, seals of foreign countries at the filing of a permit issued a license to obtain a legal legalization. Vietnamese-language copies and translations from foreign languages to Vietnamese must be attested by law. The owner of the investment is responsible for the accuracy of the filing offer file.

2. The proposed office for a representative office in Vietnam must have the signature of the Chairman of the Board of Directors or persons with authority under the regulation at the Organization for the Organization of Foreign Insurance. The single proposed to place the office of the electricity office in Vietnam stipulated at Annex 16 issued by this message.

3. During the sixty (60) days from the date of receiving enough paperwork to issue a representative office, the Ministry of Finance issued the Office of the representative office of the foreign insurance business in Vietnam according to the prescribed pattern at Appendix 17 issued. Come on. In the case of rejection, the Ministry of Finance has a written answer and specifies the reason.

What? 56. Representative Office Activity Report

The representative office of the foreign insurance business in Vietnam must submit the Finance Ministry to periodically operate under regulation at Article 38 of the number of countries. 45 /2012/NĐ-CP and the following specific guidelines:

1. The representative office of the foreign insurance business in Vietnam must report activities by periodically six (06) months and annually to the Ministry of Finance. The first six-month report must be submitted before July 30 and reports the year before March 1 of the next year.

2. The report content specified at paragraph 1 This includes:

a) The structure of the Office of Representative Office, personnel, number of Vietnamese and foreigners working in the Office of the Representative;

b) The main activities of the representative office performed in the report period include:

-Access to the market;

-The relationship between the office represents the insurance businesses, the foreign branch and the Vietnam Economic Organization; and the government.

-Counseling, training.

-Other activities under the rule of law.

c) The direction of activity in the coming time.

3. In addition to the above periodic reports, in the case of necessity, the Ministry of Finance may ask the Office to represent the report, provide documentation, solve problems related to its activities.

What? 57. Modified, representative of the Office for Representative Office

1. When there is a change in one of the following contents in a representative office booking license, the foreign insurance business must submit one (01) case set of the revised offer case, the addition of the license:

a) Name, nationality, address of foreign insurance business;

b) the name of the representative office;

d) Active content of the electrical office;

2. The profile offer the amendment, the addition of the license:

a) The proposed text adjuvated the license to place the representative office in accordance with the provisions at Annex 18 issued by this message;

b) The accepted text of the competent authority pursues to the rules of the organization and operation of the foreign insurance business on the changes stipulated at 1 Article.

3. In the time of eleven (11) days from the full date of receiving a valid record of regulation at paragraph 2, the Ministry of Finance issued a prescribed license under the provisions of the Annex 20 issued by this message. In the case of rejection, the Ministry of Finance has a written answer and specifies the reason.

What? 58. The changes must inform the Ministry of Finance

1. Foreign insurance business must notify the Ministry of Finance when changing its Chief Office in Vietnam.

2. The representative office must notify the Ministry of Finance when changing the location of the headquarters and the working person at the representative office.

3. The announcement of the regulation changes at paragraph 1 and paragraph 2 This must be done in accordance with the prescribed pattern at Annex 19 issued by this message in the thirty (30) days of the date since the change, accompanied by the evidence documents. The change included: background factors, the copy of the testimony of legal individual certificates by law (for the case of change of representative office), proof that the authority to use the location of the office is represented. (for the case of changing the location of the representative office).

What? 59. The activity limit of representative office

1. Foreign insurance business wishing to renew the operation of the representative Office must meet the following regulations:

a) The representative office of the foreign insurance business in Vietnam is not subject to administrative penalties of 200 million or more or more of these violations in the insurance business sector within twelve (12) months as of the time of filing an application. the activity limit;

b) The foreign insurance business is working legally and stable at the time of the application extension of the representative office.

2. The deadline extension of the office of representative office is not too long (05) years.

3. Minimum of thirty (30) days ahead of the expiration date of the representative office of the representative office, the foreign insurance business that wants to renew the operation of the electric office must submit the Finance Ministry a (01) the proposed filing order that includes the following documents:

a) The proposed extension of the operation of the representative office under the prescribed pattern at Annex 16 issued by this message;

b) The copy of the established License License and the operation of foreign insurance business;

c) A copy of the financial reporting evidence that was audits audits of the foreign insurance business in three (03) years adjacent to the year filing for extension;

d) Primary reasons, the copy of the proof of legal personal evidence documents by the law of the person expected to hold the title of representative office (for the case of change of representative office of representative office);

4. In the twenty-one (21) days of days, since the full date of receiving the filing of the operation extension, the Ministry of Finance will have the written approval or refuse approval. The case refused to accept the reason.

What? 60. End of representative office operation

1. The representative office terminated the operation in the following circumstances:

a) On the recommendation of the foreign insurance business;

b) When the foreign insurance business ends the operation;

c) When the permit to place the representative office revoked by regulation at paragraph 3 Article 37 Decree No. 45 /2007/NĐ-CP.

2. The procedure terminated the operation of representative office

To end the operation of the representative office, the foreign insurance business must submit the Ministry of Finance a (01) file in Vietnamese including the following documents:

a) The text of the proposal to terminate the operation of the Office of the Office on the prescribed form at Annex 16 issued by this message;

b) The proof of proof has fulfilled its obligations to workers and obligations with organizations, other individuals in Vietnam;

c) The original license to place the representative office;

d) The licenses, decisions that are relevant in the operation of the Office of the Representative Office.

In the period of eleven (11) days from the date of the receiving of valid records, the Ministry of Finance has the written approval of the termination of the operation of the chamber office and to inform the agencies involved.

Section 9

PROCEDURE, INSURANCE TRANSFER RECORDS

What? 61. Transfer of insurance contracts

1. During the operation, the business insurance business, the foreign branch may transfer the insurance contracts of one or some of the insurance business (later calling off the transfer) to the insurance business enterprises, the foreign branch, and the insurance business. Others are allowed to operate in Vietnam by regulation at Section 3, Chapter III, Business Law Insurance.

2. The transfer must ensure the principle of inheritance rights, obligations, and no damages to the rights of the insurance party after the execution of the transfer.

What? 62.

1. For the insurance business business, the foreign branch of transfer (later called the transfer business), the transfer business must submit the One (01) Ministry of Finance to the transfer offer case that includes the following documents:

1.1. The text offer to transfer in which specifies the reason for transfer;

1.2. The transfer plan, which states:

a) The name and address of the insurance business business, the foreign branch receiving the transfer (the following calls for the transfer of delivery);

b) The type of insurance business and the number of insurance contracts transferred;

c) The method of transferring the funds, the business reserve and the insurance complaint related to the contracts transferred;

d) Time is expected to make the transfer;

The details of the business receive the transfer of the financial requirements after the transfer.

e) The transfer contract between the transfer business and the business receiving delivery includes the following principal content:

-The subject of transfer.

-Time to perform the transfer;

-The rights and obligations of the parties to the transfer;

-A dispute resolution.

1.3. The commitment of the business receives a transfer to ensure the benefits of the insurance party under the insurance contract transferred after the transfer is valid.

2. In the fifteen (15) days from the date of the proposed text transfer of the insurance contract approved by the Ministry of Finance, the transfer business is responsible:

a) Published a report on the transfer of over two central newspapers in the year (05) numbers in a row with the following primary content:

-The name and address of the transfer business and the business receiving delivery;

-The type of insurance business and the number of insurance contracts transferred;

-Time to perform the transfer;

-The address addresses the complaints, the question of the insurance party involved in the transfer.

b) Submit the message accompanying a summary of the transfer plan to each side of the insurance purchase immediately after the Ministry of Finance approved the transfer offer text. The notification sent to the insurance party must specify the deadline for the insurance party to be allowed to cancel the insurance contract if it does not agree with the transfer plan and the official transfer plan date is valid.

3. The insurance party is allowed to cancel the insurance contract in the fifteen (15) days from the date received notice of the transfer of the mail by the post office. In the case of the insurance buyer cancelation of the insurance contract, the transfer business must refund to the insurance buyer's premiums that have received corresponding to the rest of the insurance contract after subtracing the relevant reasonable costs to the insurance. Life expectancy; or the number of insurance premiums on the insurance buyer closed after subtracing the relevant costs associated with life insurance.

4. Since the day the Ministry of Finance approved the text of the transfer offer, the transfer business is not continuing to sign the new insurance policy of the insurance business that has been transferred.

5. During the sixty (60) days from the day the Ministry of Finance approved the transfer plan, the business transferred transfer to the business receiving delivery:

a) All of the insurance contracts that are in effect of the transfer plan have been approved by the Ministry of Finance;

b) The unresolved complaint records associated with the insurance business were transferred;

c) The entire property, the funds and the business reserve involved in the insurance contracts being transferred and the unresolved complaint records associated with the insurance business being transferred.

What? 63. Profile of the proposed transfer transfer contract

1. In the thirty (30) days from the date of receiving sufficient transfer of the transfer, the Ministry of Finance has an approved text, refusing to accept or request a revision, the addition of the transfer offer filing. In case the Ministry of Finance has a request for revision, the document addition, in the sixty (60) days since the date of receiving the required revision, the addition, the transfer business must complete the filing of the Finance Ministry. Over time, the Ministry of Finance has the right to refuse to approve the filing of the transfer offer. In the event of a refusal to accept a transfer offer, the Treasury Department explained the reason it was written.

2. After the approval of the transfer offer filing, the Ministry of Finance issued a template-adjusted license at Annex 7 issued by this message to the transfer business in accordance with the insurance business that the transfer business is allowed to advance. Go.

What? 64. Corporate Responsibility

1. Enterprise receives a responsibility for coordination with the delivery business in the construction of the transfer plan, which determines the value of assets related to the funds and the business reserves of the insurance contracts transferred and agreed upon. The date of the transfer of the transfer plan.

2. Since the date of the transfer, the business receives the responsibility of carrying out the obligations of the insurance contract transferred in accordance with the terms signed between the transfer business and the insurance buyer, including the accountability of the settlement. The complaints happened, but not yet reported.

The transfer business has the right to take over the assets related to the funds and the business reserve of the insurance contract that is transferred and used that asset to carry out the obligation under the insurance contract transferred.

Chapter III

THE ORGANIZATION.

What? 65.

1. This message has been in effect since 1 October 2012.

2. This information replaces the Digital 155 /2007/TT-BTC December 20, 2007 of the Ministry of Finance Guide to Protocol Number Protocol 45 /2007/NĐ-CP March 27, 2007 of the Government Regulation Details enforce certain provisions of the Insurance Business Law and Article 1 Digital Private Information Act. 86 /2009/TT-BTC April 28, 2009, of the Ministry of Finance.

3. In the course of execution, if there is difficulty, the offer is timely reflection of the Ministry of Finance for review, ./.