The Central Bank changed the capital requirements for insurers from September 25 – Kommersant
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Bank of Russia adjusted capital requirements for insurers. This was done, the Central Bank reported, to expand the ability of insurers to support structural restructuring of the economy. Due to the capital reserve, they will be able to buy project bonds in large volumes, the regulator believes.
The requirements will come into force on September 25.
“A progressive scale of capital requirements for MTPL insurers, whose share in this segment exceeds 15%, is being introduced,” the Central Bank reports. The amount of the bonus will be determined based on the results of each quarter.
The regulator believes that this measure will limit the impact of the risks of loss of financial instability of large insurers on the OSAGO segment as a whole. Now, the Central Bank noted, such companies do not require additional capital from insurance reserves.
The Central Bank’s decision will allow insurers to take into account in their capital the price of non-tradable shares of the largest issuers with high credit quality.
“The support measure previously announced by the regulator is being consolidated – an “installment plan” to write off the value of blocked assets over 10 years for companies that do not pay dividends,” the statement says.
The requirements for the formation of insurance reserves are also changing. This is being done, the regulator noted, to reduce the burden on capital and to develop the companies’ business.
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