The State Commission on Regulation of Financial Services Markets of Ukraine issued a draft order "On the requirements for financial strength rating (stability) of insurers and reinsurers of non-resident." As the agency designated disposal designed to bring the regulations Financial Services Commission to establish requirements for financial strength rating (stability) of non-resident insurers and reinsurers of non-resident in accordance with the Tax Code of Ukraine and the unification of requirements to the financial strength rating (stability) of non-resident insurers and reinsurers of non-resident. Decree provides for approval of the requirements for financial strength rating (stability) of insurers and non-resident reinsurers. Adoption of the document will provide the conclusion of contracts of insurance and reinsurance with reliable in terms of ability to pay non-resident insurers and reinsurers to non-resident. The project envisages that the financial strength rating on the day of the contract of insurance or reinsurance with insurers by non-resident or non-resident reinsurer must meet level rating is not lower than the classification of international rating agencies: "A. M. Best "(USA) -" In + ";" Moody's Investors Service "(USA) -" Baa ";" Standard & Poor's "(USA) -" BBB ";" Fitch Ratings "(UK) -" BBB ". In Specifically, the project is proposed to establish: if non-resident reinsurers have appropriate registration and / or location in the offshore zone, which is included in the list of offshore zones, the financial strength ratings of reinsurers are regarded as non-residents who do not meet the specified requirements.
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