In accordance with Article 46 of the Law of the Republic of Kazakhstan No. 126-II dated December 18, 2000, “On Insurance Activities,” the following prudential requirements are established that insurance (reinsurance) organizations must comply with:
Core requirements:
- minimum authorized capital requirement;
- solvency margin requirement;
- highly liquid assets adequacy requirement;
- asset diversification requirements;
- maximum retention of an insurance organization under insurance, reinsurance and co-insurance contracts.
Additional requirements:
- contingency reserve;
- stabilization reserve.