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Decree of the Ministry of Finance of the Slovak Republic No. 381/2002
Coll. on Requisites of Actuary's Report on Activities of Insurance Company and
Actuary's Report on Activities of Reinsurance Company
Based on Section 37, para. 17 of the Act No. 95/2002 Coll. on Insurance, the actuary, as a
person responsible for auditing the accuracy of insurance-mathematical calculations of
insurance company, is obliged to submit to the Office of the Financial Market an annual report
on activities of insurance company or branch of foreign insurance company (the ``insurance
company'') by 31 March of the next year.
The actuary's report shall contain the following information:
- business name, registered seat, identification number (ICO) of the insurance
company,
- date of issue of insurance licence, identification of provided insurance types,
- actuary's name, date of registration and type of contractual relationship with the
insurance company,
- summary of insurance policies,
- summary of technical reserves accumulation in the previous year,
- summary of technical reserves in the previous four years,
- summary of distribution of shares on surpluses of insurance payments in life
insurance,
- summary of amount of insurance payments, changes of technical reserve for insurance
payments and connected shares in life insurance for the previous four years,
- assessment of insurance company's financial condition in the next year,
- information on all shortcomings in management of insurance company, connected with
performance of actuary's activities, detected during the previous year and on all
proposed corrective measures,
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actuary's statements on:
- amount of technical reserves and their distribution,
- calculations of solvency and minimum volume of solvency,
- calculations of insurance payments and their adequacy,
- factors jeopardazing the insurance activities,
- reliability of data forming the ground for his/her report and connected doubts.
This Decree became effective on 15 July 2002.
Last modified: 2003-03-01
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