Decision No 328 on the Regulation on own funds, valuation of assets and liabilities, and solvency and liquidity of insurance undertakings

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NATIONAL BANK OF MOLDOVA
D E C I S I O N on the approval of the Regulation on own funds, the valuation of assets and liabilities, assets eligible to cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking and the amendment of certain normative acts (prudential/financial stability indicators in the insurance sector) No 328 of 19 December 2024 (in force as of 30.12.2024) Official Gazette of Moldova No 544-547 Article 1017 of 26 December 2024

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Pursuant to Article 16 paragraph (6), Article 50 paragraph (6), Article 57 paragraph (1),
Article 58 paragraph (2), Article 59 paragraph (3), Article 71, Article 72 paragraphs (3) and (7),
Article 74 paragraph (8), Article 123 paragraph (6) (d) of Law No 92/2022 on Insurance and
Reinsurance Activity (Official Gazette of the Republic of Moldova, 2022, No 129-133, Article 229), Article X paragraph (6) of the Law No 214/2023 on the amendment of certain normative acts (ensuring the transfer of powers according to Law No 178/2020 on the amendment of certain normative acts), (Official Gazette of the Republic of Moldova, 2023, No 287-290, Article 504), the Executive Board of the National Bank of Moldova DECIDES:

1. The Regulation on own funds, the valuation of assets and liabilities, assets eligible to
   cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking is approved (attached).
2. Decision No 2/1/2011 of the National Commission for Financial Markets on the approval
   of the Regulation on Solvency Margins and Liquidity Coefficient of Insurers (Reinsurers) (Official Gazette of the Republic of Moldova, 2011, No 59-62, Article 310), registered with the Ministry of Justice under No 812 of 08.04.2011, with subsequent amendments, is amended as follows:
   2.1. in the title of the Decision, point 1 of the Decision, and throughout the text of Annex No
   1, the words 'insurer', 'insurer (reinsurer)' and 'insurer (reinsurer)/insurance company', 'insurance company' in any grammatical form, are replaced by the word 'undertaking' in the corresponding grammatical form.
   2.2. in the enacting clause, the text 'Article 30 paragraph (4) and paragraph (7), Article 34
   paragraph (10) of Law No 407-XVI of 21.12.2006 'on Insurance' (Official Gazette of the Republic of Moldova, 2007, No 47–49, Article 213)' is replaced by the text 'Article 16 paragraph (6), Article 123 paragraph (6) (d) of Law No 92/2022 on Insurance and Reinsurance Activity (Official Gazette of the Republic of Moldova, 2022, No 129–133, Article 229)'.
   2.3. in Annex No 1:

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2.3.1. in point 1
1 the words 'insurer (reinsurer) and', 'including', 'insurance company and' are excluded;
2.3.2. it is completed with point 1
2 with the following content:
'1
2
. This Regulation applies to insurance or reinsurance undertakings whose licenses have been withdrawn prior to the date of entry into force of the Regulation on own funds, the valuation of assets and liabilities, assets eligible to cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking, approved by the Decision of the Executive Board of the National Bank of Moldova No 328 of 19 December 2024. ';
2.3.3. point 2:
2.3.3.1. is completed by the notion 'insurance or reinsurance undertaking whose license has
been withdrawn' with the following content:
'the insurance or reinsurance undertaking whose license has been withdrawn (hereinafter - the undertaking) - the undertaking that was licensed to conduct insurance or reinsurance activity, which has payment obligations assumed under insurance contracts and to which the provisions of Article 16 paragraph (6) and, where applicable, Article 123 paragraph (6) of Law No 92/2022 apply, with reference to which the court decision on the opening of insolvency proceedings and/or the court decision on the initiation of liquidation proceedings is not adopted. ';
2.3.3.2. the term 'minimum solvency margin of guarantee' shall have the following meaning:
'minimum solvency margin of guarantee - the size of the minimum solvency margin of the undertaking;';
2.3.4. in point 4 subpoint 10) the text 'Article 28 of Law No 407/2006 on Insurance' is
replaced by the text 'Article 32 of the Law No 92/2022 on Insurance and Reinsurance Activity'
2.3.5. point 12 will read as follows:
'12. A solvency ratio below 100% indicates the undertaking's inability to honour its liabilities as they become eligible.';
2.3.6. in point 13, the text 'monthly on a continuous basis,' is excluded;
2.3.7. points 121
, 14, 15, 21, 25, 28, 29 are repealed;
2.3.8. in point 18, subpoint 1), the text ', provided that the liquidity ratio established in point
25 is respected' is excluded;
2.3.9. in point 26, the word 'monthly' is excluded;
2.3.10. point 27 will read as follows:
'27. The specialized reports drawn up in accordance with the forms in Annexes No 1-7 shall be submitted to the National Bank of Moldova on a quarterly basis - by the 25th of the month following the reporting period, except for the fourth quarter, which shall be submitted on an annual basis - by the 25th of February of the year following the reporting year or at the request of the National Bank of Moldova, on any other date. ';
2.3.11. in Annex No 1, in row 1.1, column No (3) the text ', provided that the liquidity ratio
established in point 25 of this Regulation is respected' is excluded.
3. Annex No 3 to the Decision of the National Commission for Financial Markets No
26/15/2011 on the approval of the form and content of specialized reports of insurers (reinsurers) (Official Gazette of the Republic of Moldova, 2011, No 135-138, Article1147) is repealed.
4. Regulation on specialized financial statements of insurance and reinsurance undertakings,
approved by the Decision of the National Commission for Financial Markets No 30/13/2023

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(Official Gazette of the Republic of Moldova, 2023, No 216-219, Article 622), registered with the Ministry of Justice under No 1800 of 22.06.2023, is amended as follows:
4.1. in point 3 the text 'points 34 and 48' is replaced by the text 'point 201
';
4.2. in point 9 the text 'and in Excel format,' is excluded;
4.3. it is completed with point 201 with the following content:
'201
. When drawing up the balance sheet according to BS - Balance Sheet Form (Annex No 1):

1. for columns 4 and 5, the provisions of the International Financial Reporting Standards
   shall be applied, except in the cases set out in points 34 and 48;
2. for columns 6 and 7, the provisions of the Regulation on own funds, the valuation of assets
   and liabilities, assets eligible to cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking, approved by Decision of the Executive Board of the National Bank of Moldova No 328 of 19 December 2024, shall apply, except for the cases provided in points 34 and 48;
3. the amounts reflected in the balance sheet items related to points 34 and 48 for the same
   reference period shall be equal, i.e. column 4 equals column 6 and column 5 equals column 7.';
   4.4. It is completed with point 631 with the following content:
   '631
   . Net investment income of the insurance undertaking carrying on non-life insurance activity is reported in the non-technical account (item III). Investment income and investment expenses of the insurance undertaking engaged in life insurance activity are to be shown in the life insurance technical account (items IX and X). ';
   4.5. In point 65, the text '(items V. and VI. in the non-technical account)' is replaced with
   '(items XI. and XII. in the profit and loss account)';
   4.6. It is completed with point 701 with the following content:
   '701
   . Significant differences between the valuations of balance sheet items at book values and prudential values are disclosed in the explanatory notes to the specialized financial statements.';
   4.7. Annex No 1 will read as follows:
   'Annex No 1 to the Regulation on Specialized Financial Statements of Insurance or Reinsurance Undertakings BS - BALANCE SHEET FORM As at ______________ 20__ Name of Entity _________________ IDNO _________________________

1. ASSETS
   No ASSETS
   Line
   Code
   Book value Prudential value
   Account Balance at: Account Balance at:
   The end of the corresponding
   The end of the reporting
   The end of the corresponding
   The end of the reporting

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Public period of the previous year period of the current year period of the previous year period of the current year 1 2 3 4 5 6 7 A. INTANGIBLE ASSETS:
010

1. Goodwill 011
2. Licenses 012
3. Software
   programs
   013
4. Other
   intangible assets
   014
   B. INVESTMENTS: 020
   I. Real estate
   investment
   021
5. Land 0211
6. Buildings 0212
   II. Investments in
   affiliated entities and participating interests:
   022
7. Shares held in
   affiliated entities
   0221
8. Debt securities
   and loans granted to affiliated entities
   0222
9. Securities in
   the form of participating interests
   0223
10. Debt securities
    and loans granted to entities in which participating interests are held 0224
11. Other
    investments
    0225

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III. Other
financial investments:
023

1. Shares and
   other securities with variable income and units in investment funds 0231
2. Bonds and
   other securities
   0232
3. Units in
   collective investment funds
   0233
4. Policy
   -based loans
   0234
5. Other loans 0235
6. Deposits with
   licensed banks
   0236
7. Other financial
   investments
   0237
   IV. Deposits with
   ceding undertaking
   024
   C. LIFE
   INSURANCE

RELATED
INVESTMENTS
FOR WHICH
THE
INVESTMENT
RISK EXPOSURE
IS
TRANSFERRED
TO THE
POLICYHOLDER
030
D. REINSURER'S
SHARE OF THE
TECHNICAL
PROVISIONS
RELATED TO
CONTRACTS
CEDED IN
REINSURANCE:
040

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I.
Reinsurer's share of the technical provisions related to contracts ceded in reinsurance under non - life insurance:
041

1. Reinsurer's
   share of unearned premium reserve
   0411
2. Reinsurer's
   share in the reserve for reported but not settled claims 0412
3. Reinsurer's
   share of the unreported claims reserve
   0413
4. Reinsurer's
   share of unexpired risk reserve
   0414
5. Reinsurer's
   share of other technical provisions related to contracts ceded in reinsurance 0415
   II. Reinsurer's
   share of the technical provisions related to contracts ceded in life reinsurance:
   042
6. Reinsurer's
   share of mathematical reserves
   0421

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2. Reinsurer's
share of unearned premium reserve
0422
3. Reinsurer's
share in the reserve for claims reported but not settled 0423
4. Reinsurer's
share of the unreported claims reserve
0424
5. Reinsurer's
share of other technical provisions related to contracts ceded in reinsurance 0425
III. Share of the
mathematical reserve related to life insurance for which the investment risk exposure is transferred to the policyholder, ceded in reinsurance. 043 E. RECEIVABLES : 050
I. Receivables
arising from direct insurance operations:
051

1. Policyholders
   (insured)
   0511
2. Insurance
   intermediaries
   0512
3. Receivables
   from recourse actions.
   0513

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4. Receivables
from related parties
0514
5. Other
receivables arising out of direct insurance business 0515
II. Receivables
arising from reinsurance operations:
052

1. Ceding entities 0521
2. Recoveries
   from reinsurance
   0522
   III. Receivables
   from related parties other than those arising from direct insurance 053
   IV. Other
   receivables
   054
   F. OTHER
   ASSETS
   :
   060
   I. Tangible fixed
   assets and inventories:
   061
3. Real estate in
   use
   0611
4. Machinery,
   plant, and technical installations
   0612
5. Vehicles, other
   fixed assets
   0613
6. Advances and
   tangible fixed assets under construction
   0614
7. Consumables 0615
8. Advances for
   stocks purchases
   0616

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II. Cash: 062

1. Cash on hand 0621
2. Current
   accounts
   0622
   III. Other assets 063
   G. PREPAID
   EXPENSES:
   070
   I. Prepaid
   interest and rent
   071
   II. Deferred
   acquisition costs:
   072
3. Deferred
   acquisition costs related to non-life insurance 0721
4. Deferred
   acquisition costs related to life insurance
   0722
   III. Other prepaid
   expenses
   073
   TOTAL ASSETS 080
5. LIABILITIES
   No. LIABILITIES
   Line
   Code
   Book value Prudential value
   Account Balance at: Account Balance at:
   The end of the corresponding period of the previous year The end of the reporting period of the current year The end of the corresponding period of the previous year The end of the reporting period of the current year 1 2 3 4 5 6 7 A. EQUITY CAPITAL:
   090
   I. Share capital 091
   II. Uncalled
   capital
   092
   III. Unregistered
   capital
   093
   IV. Withdrawn
   capital
   094

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V. Capital
premiums
095
VI. Re
serve s
: 096

1. Reserve
   capital
   0961
2. Statutory
   reserves
   0962
3. Revaluation
   reserves
   0963
4. Other reserves 0964
   VII. Retained
   earnings
   (uncovered loss) of previous years
   097
   VIII. Net profit (net loss) for
   the reporting period
   098
   IX. Utilized profit for the
   reporting period
   099
   X. Minority
   interests
   (non

• controlling
  interests)
  100
  B.
  SUBORDINATED
  LIABILITIES
  110
  C. TECHNICAL
  PROVISIONS
  :
  120
  I. Gross
  technical provisions related to non
• life insurance:
  121

1. Reserve for
   unearned premiums
   1211
2. Reserve for
   claims reported but not settled
   1212

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3. Reserve for
outstanding claims (IBNR)
1213
4. Reserve for
unexpired risks
1214
5. Other reserves
related to non

• life insurance
  1215
  II. Gross
  technical provisions related to life insurance:
  122

1. Mathematical
   reserves
   1221
2. Additional
   mathematical reserves
   1222
3. Supplementary
   benefits reserve
   1223
4. Unearned
   premiums reserve
   1224
5. Reserve for
   claims reported but not settled
   1225
6. Reserve for
   incurred but not reported
   (IBNR) claims
   1226
7. Other reserves
   related to life insurance
   1227
   D. PROVISIONS 130
8. Provisions for
   pensions and similar obligations
   131
9. Provisions for
   taxes
   132
10. Other
    provisions
    133
    E. DEPOSITS
    RECEIVED FROM
    REINSURERS
    140

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F. LIABILITIES
: 150
I. Liabilities
arising from direct insurance operations:
151

1. Liabilities to
   policyholders
   1511
2. Liabilities to
   insurance intermediaries
   1512
3. Liabilities to
   related parties
   1513
4. Other insurance
   liabilities
   1514
   II.
   Liabilities arising from reinsurance operations 152
   III. Loans from
   bond issues
   153
   IV. Other long

• term loans and
  liabilities
  154
  V. Financial
  liabilities
  155
  VI. Liabilities to
  shareholders
  156
  VII. Liabilities
  t o related parties other than those arising from direct insurance 157
  VIII. Liabilities to
  suppliers, creditors, employees
  158
  IX. Other
  liabilities, including tax and social security liabilities 159 G. DEFERRED REVENUES AND 160

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ACCRUED
LIABILITIES:
I. Investment
grants
161
II. Current
deferred revenues
162
III. Advances
received
163
IV. Other
accrued liabilities
164
TOTAL
LIABILITIES
170
Date of filling in the form _________________________________ Chief Accountant __________________________________ (name, surname, signature) Head __________________________________ (name, surname, signature) Statement Control BS - Balance Sheet Form Vertical Control 010 = 011+012+013+014 020 = 021+022+023+024 021 = 0211+0212 022 = 0221+0222+0223+0224+0225 023 = 0231+0232+0233+0234+0235+0236+0237 040 = 041+042+043 041 = 0411+0412+0413+0414+0415 042 = 0421+0422+0423+0424+0425 050 = 051+052+053+054 051 = 0511+0512+0513+0514+0515 052 = 0521+0522 060 = 061+062+063 061 = 0611+0612+0613+0614+0615+0616 062 = 0621+0622 070 = 071+072+073 072 = 0721+0722 080 = 010+020+030+040+050+060+070 090 = 091+092+093+094+095+096+097+098+099+100 096 = 0961+0962+0963+0964 120 = 121+122 121 = 1211+1212+1213+1214+1215 122 = 1221+1222+1223+1224+1225+1226+1227 130 = 131+132+133 150 = 151+152+153+154+155+156+157+158+159 151 = 1511+1512+1513+1514

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160 = 161+162+163+164
170 = 090+110+120+130+140+150+160
080 = 170. '
4.8. In Annexes No 2-5 the text ', approved by the Decision of the National Commission for
Financial Markets No 30/13/2023' is excluded.
4.9. Annex No 2 is amended as follows:
4.9.1. The report form 'FORM PP - PROFIT AND LOSS ACCOUNT' is completed with the
following rows:

1. Attributable to owners of the parent company 161
2. Attributable to minority interests (non-controlling interests) 162
   4.9.2. In the section 'Statement control PL – Profit and Loss Account Form,' after the text
   '160 = 130-140-150,' it is completed with the text:
   '160 = 161+162';
   4.10. In Annex No 4, the form '1.1 Statement of changes in equity' will read as follows:
   '1.1. Statement of changes in equity
   N o
   Indicato rs
   Sha re capi tal,
   MD
   L
   Unca lled capit al,
   MDL
   Unregis tered capital,
   MDL
   Withdr awn capital,
   MDL
   Capita l premi ums,
   MDL
   Rese rve capit al,
   MD
   L
   Statu tory reser ves,
   MDL
   Revalu ation reserve s,
   MDL
   Othe r reser ves,
   MDL
   Retai ned earni ngs,
   MDL
   Minor ity interes ts
   (non￾contro lling interes ts)
   Tot al,
   M
   DL
   1 2 3 4 5 6 7 8 9 10 11 12 13 14
   Balance at the beginning of the reporting period Overall result for the reporting period
3. Net
   profit/net loss
4. Retained
   result arising from correctio

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3. Other
compreh ensive income
4. Total
compreh ensive income
Transactions with shareholders recorded in equity

1. Increase
   in share capital
2. Increase
   in reserve capital through profit distributi on
3. Distributi
   on of dividend s
4. Total
   transacti ons with sharehol ders
   Balance at the end of the reporting period
5. The first presentation of the reports in accordance with the Regulation specified in point
   1 will be for the situation as of 31 December 2024.
6. The decision shall enter into force on 30 December 2024.
   CHAIRMAN
   OF THE EXECUTIVE BOARD Anca-Dana DRAGU
   No 328. Chişinău, 19 December 2024

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Approved by the Decision of the Executive Committee of the National Bank of Moldova No 328 of 19 December 2024 REGULATION on own funds, the valuation of assets and liabilities, assets eligible to cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking This Regulation partially transposes (transposes Articles 7-16, Articles 62-82, Articles 250- 251 and Annex XIX) Commission Delegated Regulation (EU) 2015/35 of 10 October 2014 supplementing Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II), published in the Official Journal of the European Union No L 12/1 of 17.01.2015 (CELEX: 32015R0035), as last amended by Commission Delegated Regulation (EU) 2021/1256 of 21 April 2021 amending Delegated Regulation (EU) 2015/35 as regards the integration of sustainability risks in the governance of insurance and reinsurance undertakings published in the Official Journal of the European Union No L 277/14 of 02.08.2021 (CELEX: 32021R1256)
Chapter I
GENERAL PROVISIONS

1. The Regulation on own funds, the valuation of assets and liabilities, assets eligible to
   cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking (hereinafter - the Regulation) applies to insurance or reinsurance undertakings on an individual basis, except for subpoint 1.1, which also applies on a consolidated basis, and is intended to regulate the manner in which the following occurs:
   1.1. valuation of assets and liabilities other than technical provisions;
   1.2. determination and reporting of own funds (own fund requirements and categories, items
   included in the calculation, conditions and limits under which they may be considered, deductions from own-fund items, reductions in own fund levels);
   1.3. calculation and reporting of the minimum capital requirement (hereinafter - MCR);
   1.4. calculation and reporting of the solvency ratio;
   1.5. allocation and reporting of assets eligible to cover technical provisions and the MCR;
   1.6. calculation and reporting of the liquidity ratio.
2. For the purpose of this Regulation, the terms defined in the Law No 92/2022 on Insurance
   or Reinsurance Activity (hereinafter - Law No 92/2022) and in the normative acts issued in its application, as well as the following terms shall be used:
   2.1. liquid assets – cash on hand, funds in current accounts, sight deposit accounts or term
   deposit accounts, free from any encumbrances and/or obligations, which may be withdrawn unconditionally at any time, and government securities issued by the government of the Republic of Moldova, the government of a Member State of the European Union or a Member State of the Organization for Economic Cooperation and Development (hereinafter - OECD), provided that the states or international financial institutions have a rating of BBB+ or higher, which can be

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2.2. gross technical provisions – technical provisions before the deduction of the share held
by reinsurance undertakings or coinsurers in the technical provisions;
2.3. net technical provisions – technical provisions after the deduction of the share held by
reinsurance undertakings or coinsurers in the technical provisions.
3. An insurance undertaking carrying out simultaneous activity in the 'life insurance' and
'non-life insurance' classes, as referred to in Article 97 of Law No 92/2022, shall value assets and liabilities, allocate and report the assets eligible for covering technical provisions and the MCR, calculate own funds, including eligible own funds, the MCR, solvency ratio and liquidity ratio separately for the insurance activity carried out in the 'life insurance' and 'non-life insurance' classes, as if it were conducting separate insurance activities for each of these classes.
Chapter II
VALUATION OF ASSETS AND LIABILITIES, OTHER THAN TECHNICAL PROVISIONS
4. For prudential purposes, in accordance with the principle of proportionality, the insurance
or reinsurance undertaking shall value its assets and liabilities, other than technical provisions, based on the assumption that the undertaking will continue its activity under normal conditions and shall recognize an asset or liability on the basis of the valuation method it uses for the preparation of specialized financial statements on an individual and/or consolidated basis, in the event that:
4.1. the valuation method complies with Article 57 paragraphs (3) and (4) of Law No
92/2022;
4.2. the valuation method is proportionate with respect to the nature, scale, and complexity
of the risks inherent in the business of the insurance or reinsurance undertaking.
5. The procedures for valuation of the assets and liabilities of the insurance or reinsurance
undertaking must include at least the following:
5.1. the methodology and criteria to be used for the valuation of active and inactive markets;
5.2. the requirements to ensure adequate documentation of the valuation process and related
control measures, including data quality;
5.3. the requirements for documentation of the valuation methods used with respect to:
5.3.1. their structure and implementation;
5.3.2. the adequacy of data, parameters and assumptions;
5.4. the process for independent review and verification of the evaluation methods;
5.5. the requirements for regular reporting to governing bodies.
6. When valuing assets and liabilities, the insurance or reinsurance undertaking must take
into account the materiality threshold principle. A modification or error is considered material if it could influence the decision-making or judgment of the recipients of that information, including the control bodies or supervisory authorities. When assessing the materiality threshold, it must be acknowledged that quarterly measurement may rely on estimates and estimation methods to a greater extent than the measurement of annual financial data.
7. The insurance or reinsurance undertaking must apply the valuation techniques
consistently, taking into account the characteristics of the asset or liability in cases where market

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Public participants would take those characteristics into account when determining the value of the asset at the measurement date, including the form and location of the asset or liability and, if applicable, restrictions on the sale or use of the asset. The insurance or reinsurance undertaking shall not value financial assets or financial liabilities at cost or amortized cost. The insurance or reinsurance undertaking shall not apply valuation models that value at the lower of the carrying amount and fair value less costs to sell.
8. When valuing investment property and other assets, the insurance or reinsurance
undertaking must choose the method which provides the most representative estimate of the value at which the assets can be willingly and knowledgeably traded in a transaction conducted under normal market conditions. These methods must be based on the following:
8.1. current prices in an active market for assets of a different nature, in a different form or
from different locations, or where subject to different lease or other contractual terms - adjusted to reflect those differences;
8.2. recent prices of similar assets in less active markets, with adjustments to reflect any
changes in economic conditions since the date of the transactions made at those prices;
8.3. forecasts of cash flows based on reliable estimates of future cash flows, supported by
the terms of any existing leases and other contracts and, where possible, external evidence such as leases of similar assets in the current market in the same location and form, using discount rates that reflect current market assessments of the uncertainty in the amount and timing of cash flows.
9. The insurance or reinsurance undertaking shall recognize contingent liabilities, as
liabilities if they are material. Contingent liabilities shall be material if information about the current or potential size or nature of those liabilities could influence the decision-making or judgment of the recipients of that information, including the supervisory authorities. The amount of contingent liabilities is equal to the present value of the expected future cash flows required to settle a contingent liability over the life of that contingent liability.
10. The insurance or reinsurance undertaking values its assets and liabilities, including
holdings in related undertakings, in accordance with the following hierarchy of methods:
10.1. using the default valuation method, assets and liabilities are valued based on quoted
market prices in active markets for the same assets or liabilities;
10.2. using the adjusted equity method, which requires the participating undertaking to value
its holdings in related undertakings based on the share of the excess of assets over liabilities of the related undertaking held by the participating undertaking, if valuation in accordance with subpoint
10.1 is not possible;
10.3. using either the valuation method that values assets and liabilities based on quoted
market prices in active markets for similar assets and liabilities, with adjustments to reflect differences, if valuation in accordance with subpoint 10.1 is not possible, or alternative valuation methods, provided that all of the following conditions are met:
10.3.1. neither valuation according to subpoint 10.1 nor valuation according to 10.2 is
possible;
10.3.2. it is not an undertaking over which a parent company effectively exercises a dominant
influence.
11. The insurance or reinsurance undertaking recognizes, and measures deferred taxes in
relation to all assets and liabilities, including technical provisions recognized for solvency or tax purposes. An insurance or reinsurance undertaking must offset deferred tax assets and liabilities only if it has the right to offset the deferred tax assets against the deferred tax liabilities; and if the

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12. Insurance or reinsurance undertakings shall value the following assets at zero:
12.1. goodwill;
12.2. intangible assets, other than goodwill, unless the intangible asset can be sold separately
and the insurance and reinsurance undertaking can demonstrate that there is a value for the same or similar assets that has been derived using quoted market prices in active markets, in which case the asset shall be valued in accordance with this chapter;
12.3. deferred acquisition costs.
Chapter III
OWN FUNDS
Section 1
General aspects regarding own funds
13. The insurance or reinsurance undertaking shall maintain an adequate level of eligible
own funds, but not lower than the MCR, set in accordance with this Regulation.
14. The own funds of the insurance or reinsurance undertaking (hereinafter - own funds)
shall be valued at prudential value in accordance with Chapter II and Chapter III and shall consist of:
14.1. basic own funds;
14.2. ancillary own funds.
Section 2
Basic own funds
15. Basic own funds consist of the following items:
15.1. paid-in share capital, comprising:
15.1.1. ordinary shares;
15.1.2. preference shares;
15.2. additional paid-in capital related to the share capital referred to in subpoint 15.1, for:
15.2.1. ordinary shares;
15.2.2. preference shares;
15.3. surplus funds which are not considered as insurance or reinsurance liabilities;
15.4. reconciliation reserve;
15.5. paid-in subordinated liabilities valued in accordance with point 4.
16. The reporting of own funds shall be carried out in accordance with Annex No 1,
separately for insurance activity conducted in the 'life insurance' and 'non-life insurance' classes.
17. Surplus funds consist of accumulated profits which have not been made available for
distribution to policyholders and beneficiaries and which are not considered to be insurance or reinsurance liabilities if they meet the criteria set out in point 41.
18. Basic own funds shall be reduced by the full value of the insurance or reinsurance
undertakings’ participations in banks, investment undertakings and/or non-bank financial undertakings that exceed 10% of the items specified in subpoints 15.1 to 15.4, corresponding to the relevant ranking levels set out in Section 4.
19. The net amount of the basic own funds is determined by the difference between the
amount of own funds specified in point 14.1 and the deductions set out in point 18.

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20. The reconciliation reserve consists of the excess of assets over liabilities reduced by all
of the following:
20.1. the amount of own shares held (withdrawn capital);
20.2. foreseeable dividends, distributions and charges, which have not been approved by the
general meeting of shareholders regarding their payment, including the amount of interim dividends;
20.3. amounts:
20.3.1. the items referred to in subpoints 15.1 - 15.3;
20.3.2. restricted own funds.
21. The reconciliation reserve is reported in accordance with Annex No 2 separately for
insurance activity conducted in the 'life insurance' and 'non-life insurance' categories and is determined on the basis of the following items:
21.1. retained earnings (undistributed profit or uncovered loss from previous years);
21.2. the result for the financial year (undistributed profit or uncovered loss for the reporting
period);
21.3. revaluation reserve for tangible fixed assets;
21.4. reserves required by the regulatory framework;
21.5. revaluation reserves on financial investments;
21.6. other reserves.
Section 3
Ancillary own funds
22. Ancillary own funds consist of items other than basic own funds and comprise the
following items:
22.1. unpaid and uncalled ordinary share capital callable on demand;
22.2. unpaid and uncalled preference shares callable on demand;
22.3. a legally binding commitment to subscribe and pay for subordinated liabilities on
demand;
22.4. letters of credit and guarantees which are held in trust by an independent trustee for the
benefit of insurance creditors and are provided by banks;
22.5. letters of credit and guarantees provided, other than those referred to in subpoint 22.4,
under which items can be called up on demand and are clear of encumbrances;
22.6. other legally binding commitments received by the insurance or reinsurance
undertaking, provided that the item can be called up on demand and is clear of encumbrances.
23. For the recognition of ancillary own funds in the own funds category, the insurance or
reinsurance undertaking shall request prior approval of the National Bank of Moldova by submitting an application signed by the chairman of the undertaking’s board or the head of the executive body, attaching supporting documents in accordance with the requirements of points 24, 25 and 33.
24. The insurance or reinsurance undertaking through the application and attached
supporting documents shall demonstrate that:
24.1. the legal or contractual terms applicable to the ancillary own-fund item or related
agreements are clearly defined and unambiguous;

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24.2. the ancillary own-fund item will comply, taking into account likely future
developments as well as circumstances existing at the date of the application, both in legal form and economic substance, with the criteria and particularities set out in this Regulation;
24.3. no information has been omitted which, if known to the National Bank of Moldova,
could influence the decision on the prior approval of the valuation of the own-fund item;
24.4. the documents and information are sufficient for the assessment of the ancillary own￾fund item by the National Bank of Moldova in accordance with the criteria set out in points 25 and
33.
25. When examining the application of the insurance or reinsurance undertaking and the
attached supporting documents, the National Bank of Moldova shall take into account the following elements:
25.1. the legal effectiveness and enforceability of the terms of the commitment;
25.2. the contractual terms of the arrangement that the insurance or reinsurance undertaking
has entered into, or will enter into, with the counterparties to provide funds;
25.3. where relevant, the insurance or reinsurance undertaking's memorandum and articles
of association or statutes;
25.4. the existence within the insurance or reinsurance undertaking of procedures for
notifying the National Bank of Moldova of any future changes, which may have the effect of reducing the loss-absorbency of the ancillary own-fund item, to any of the following:
25.4.1. the structure or contractual terms of the arrangement;
25.4.2. the status of the counterparties concerned;
25.4.3. the recoverability of the ancillary own-fund item.
26. The amounts of ancillary own-fund items are taken into account in determining the own
funds of the insurance or reinsurance undertaking in the following financial year, only after obtaining prior approval from the National Bank of Moldova.
27. The National Bank of Moldova examines the application referred to in point 23 within
30 days from the date of receipt of the complete set of documents and information.
28. The National Bank of Moldova may request additional documents and/or information
regarding the assessment of the application. The insurance or reinsurance undertaking is required to submit the additional documents and/or information within the deadline indicated by the National Bank of Moldova, during which period the administrative procedure is suspended.
29. Where the insurance or reinsurance undertaking has failed to submit the requested
documents and/or information within the deadline set out in point 28 and there are no grounds for suspension or extension of the deadline, the National Bank of Moldova shall inform the undertaking about the termination of the administrative procedure.
30. Where the set of documents is complete, but the information thereunder is insufficient
to make a decision on prior approval of ancillary own-fund items, the National Bank of Moldova may request additional documents and/or information, may conduct additional examinations, including consultation with public authorities and other legal persons. In this case, the National Bank of Moldova may extend the general deadline for issuing the decision referred to in point 27, under the conditions of the Administrative Code, with the information of the insurance or reinsurance undertaking.
31. The National Bank of Moldova shall grant its prior approval or reject the application for
prior approval of the insurance or reinsurance undertaking, providing the reasons for the decision.

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32. Where the National Bank of Moldova grants prior approval for an amount of ancillary
own funds, the reasoned decision of the National Bank of Moldova shall indicate whether the approved amount is the same as the one requested by the insurance or reinsurance undertaking or if it is a lower amount, specifying one of the following:
32.1. the monetary value for each ancillary own-fund item. In this case, the National Bank
of Moldova approves a limited amount of ancillary own funds, which may be equal to or less than the amount requested by the insurance or reinsurance undertaking;
32.2. the method for calculating the value of each ancillary own-fund item, in the event that
the National Bank of Moldova approves the value thus calculated for a specified period of time. In that case, the National Bank of Moldova shall establish in its decision:
32.2.1. whether the method of calculation is appropriate to ensure that it reflects at all times
the loss-absorbency of the ancillary own-fund item, the initial amount of the ancillary own-fund item that was calculated using that method at the date the approval is granted;
32.2.2. the minimum frequency of recalculation of the amount of the ancillary own-fund
item using that method where it is more frequent than annual, and the reasons for using that frequency;
32.2.3. the time period for which the calculation of the ancillary own-fund item using that
method is granted.
33. For the purposes of the assessment of the counterparties' ability to pay, recoverability of
funds, information on the outcome of past calls, the National Bank of Moldova shall, within the framework of prior approval, rely for each ancillary own-fund item on the assessment of the following:
33.1. the status of the targeted counterparties in terms of their ability and willingness to meet
their payments. In such a case, the National Bank of Moldova shall assess the risk of default, including according to subpoints 33.1.1-33.1.5, and/or late fulfilment by counterparties, including according to subpoints 33.1.6-33.1.8, including a group of counterparties, of commitments related to the ancillary own-fund item, taking into account:
33.1.1. the credit standing of the counterparties, provided that this appropriately reflects the
counterparties’ ability to satisfy their commitments under the ancillary own-fund item;
33.1.2. whether there are any current or foreseeable legal or practical impediments to the
counterparties' satisfaction of their commitments under the ancillary own-fund item;
33.1.3. whether the counterparties are subject to legal or regulatory requirements that reduce
the counterparties’ ability to satisfy their commitments under the ancillary own-fund item;
33.1.4. whether the legal form of the counterparties prejudicesthe counterparties' satisfaction
of their commitments under the ancillary own-fund item;
33.1.5. whether the counterparties are subject to other exposures which reduce the
counterparties’ ability to satisfy their commitments under the ancillary own-fund item;
33.1.6. whether there are any current or foreseeable legal or practical impediments to the
counterparties' ability to promptly satisfy their commitments under the ancillary own-fund item;
33.1.7. whether the counterparties are subject to legal or regulatory requirements that may
reduce the counterparties' ability to promptly satisfy their commitments under the ancillary own￾fund item;
33.1.8. whether the legal form of the counterparties prejudices the counterparties' prompt
satisfaction of their commitments under the ancillary own-fund item;

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33.1.9. whether incentives or disincentives exist which may affect the counterparties'
willingness to satisfy their commitments under the ancillary own-fund item;
33.1.10. whether previous transactions between the counterparties and the insurance or
reinsurance undertaking, including the counterparties’ previous satisfaction of their commitments under ancillary own-fund items, give an indication as to the counterparties' willingness to satisfy their current commitments under the ancillary own-fund item.
33.1.11. any other factors relevant to the assessment of counterparties, including the business
model of the insurance or reinsurance undertaking;
33.2. the recoverability of the funds, taking into account the legal and enforceable form of
the ancillary own-fund item, as well as any conditions which would prevent the successful payment or call on the own-fund item, namely:
33.2.1. whether the recoverability of the funds is increased as a result of the availability of
collateral or an analogous arrangement;
33.2.2. whether there is any current or foreseeable practical or legal impediment to the
recoverability of the funds;
33.2.3. whether the recoverability of the funds is subject to legal or regulatory requirements;
33.2.4. the ability of the insurance or reinsurance undertaking to take action to enforce the
counterparties' satisfaction of their commitments under the ancillary own-fund item.
33.3. any information on the outcome of the insurance or reinsurance undertaking's previous
prior approval requests for such ancillary own funds, to the extent that such information can be reliably used to assess the expected outcome of the current approval request.
34. The value assigned to each ancillary own-fund item reflects the loss-absorbency of the
item and is based on prudent and realistic estimates. Where an ancillary own-fund item has a fixed nominal value, the value of that item shall be equal to its nominal value, provided that this adequately reflects its loss-absorbency.
35. The insurance or reinsurance undertaking applying for prior approval or holding ancillary
own funds must have internal regulations regarding any future changes which may have the effect of reducing the loss-absorbency of the ancillary own-fund item, which shall at least address the following:
35.1. the terms of the contracts/arrangements concerned;
35.2. the status of the counterparties concerned;
35.3. the recoverability of ancillary own-fund items.
36. Once an ancillary own-fund item is paid out, it is treated as an asset and ceases to be part
of the ancillary own funds.
Section 4
Classification of own funds by tiers
37. The own-fund items referred to in subpoint 14.1 are classified into 3 (three) tiers: Tier 1,
Tier 2, and Tier 3.
38. The own-fund items referred to in subpoint 14.2 are classified in 2 (two) tiers: Tier 2 and
Tier 3.
39. In classifying own-fund items in accordance with points 37 and 38, the following shall
be taken into account:
39.1. Features of own funds:

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39.1.1. the own-fund item is available, or may be called upon at the request of the insurance
or reinsurance undertaking to fully absorb losses, both with a view to the pursuit of business and in the event of winding-up (permanent availability);
39.1.2. in the event of winding-up, the full value of the own-fund item is available to absorb
losses and its repayment is refused to its holder until all other obligations, including those arising from insurance and reinsurance contracts towards policyholders and beneficiaries, have been met; In assessing the extent to which own-fund items currently and in the future possess the characteristics outlined in subpoint 39.1, attention shall be given to the item’s lifespan and, in particular, to the existence of a maturity. If the own-fund item has a maturity, the relative lifespan of the item compared to the duration of the insurance or reinsurance liabilities (i.e. the lifespan sufficient to cover the liabilities) shall be considered.
39.2. Particularities of own funds:
39.2.1. if the own-fund item is not subject to any obligation or incentive to redeem its
nominal amount (absence of redemption incentives);
39.2.2. if the own-fund item is not subject to mandatory fixed charges (absence of mandatory
administration costs);
39.2.3. if the own-fund item is free from encumbrances, liens, prohibitions (absence of
encumbrances, liens, prohibitions).
40. The insurance or reinsurance undertaking shall treat non-restricted surrender incentives
as including:
40.1. principal compensation combined with a call option, if that is a term in the contractual
arrangements applicable to the own-fund item that provides for the holder of the own-fund item to receive ordinary shares if the call option is not exercised;
40.2. mandatory conversion combined with a call option;
40.3. the increase in principal amount that applies after the call option exercise date
combined with a call option;
40.4. other terms or agreements that could reasonably be regarded as providing an economic
basis for the probable repurchase of the item.
Section 5
Tier 1 Basic own funds
41. The basic own-fund items referred to in points 15.1 to 15.5 which have the features set
out in point 39.1, taking into account the particularities set out in subpoint 39.2, shall be classified as Tier 1 items when:
41.1. those basic own-fund items meet the following criteria:
41.1.1. the basic own-fund item does not include features which may cause the insolvency
of the insurance or reinsurance undertaking or may accelerate the process of the undertaking becoming insolvent;
41.1.2. the basic own-fund item is immediately available to absorb losses;
41.1.3. the basic own-fund item is free from encumbrances, liens, prohibitions (absence of
encumbrances, liens, prohibitions), including not connected with any other transaction which, if considered together with the basic own-fund item, would result in the non-compliance of the basic own-fund item with the provisions of this point;
41.1.4. the basic own-fund item does not prevent the increase in the share capital of the
insurance or reinsurance undertaking;

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41.1.5. the basic own-fund item referred to in subpoints 15.1.2, 15.2.2 and 15.5 possesses
one of the following principal loss-absorbency mechanisms to be triggered in the event of a failure to comply with the solvency ratio level set out in point 65:
41.1.5.1. the value of such items may be reduced as a result of the settlement of the claim of
the holder of that item in the event of winding-up proceedings, redemption or repurchase procedures, or in the distribution of that item;
41.1.5.2. the basic own-fund item automatically converts into a basic own-fund item listed
in subpoints 15.1.1 and 15.2.1;
41.1.5.3. a principal loss-absorbency mechanism that achieves an equivalent outcome to the
principal loss-absorbency mechanisms set out in subpoints 41.1.5.1 and 41.1.5.2;
41.1.6. the basic own-fund item meets one of the following criteria:
41.1.6.1. in the case of items set out in subpoints 15.1.1 and 15.2.1, the item is undated or,
where the insurance or reinsurance undertaking has a fixed maturity, is of the same maturity as the undertaking;
41.1.6.2. in the case of items referred to in subpoints 15.1.2, 15.2.2 and 15.5, the item is
undated and the first contractual opportunity to repay or redeem the basic own-fund item does not occur before 5 years from the date of issuance;
41.1.7. the basic own-fund item referred to in subpoints 15.1, 15.2 and 15.5:
41.1.7.1. is only repayable or redeemable at the option of the insurance or reinsurance
undertaking, and the repayment or redemption of the basic own-fund item is subject to prior approval of the National Bank of Moldova;
41.1.7.2. does not include any incentive to repay or redeem that item that increase the
likelihood that an insurance or reinsurance undertaking will repay or redeem that basic own-fund item where it has the option to do so;
41.1.7.3. provides, by legal or regulatory act, for the suspension of repayment or redemption
of that item if the solvency ratio is not complied with or if the repayment or redemption would lead to non-compliance with that ratio, with the suspension applying until the solvency ratio is complied with, except for the provisions of subpoint 41.1.10;
41.1.8. the basic own-fund items referred to in subpoints 15.1.2, 15.2.2 and 15.5 may only
allow for repayment or redemption of that item between 5 and 10 years after the date of issuance, where a solvency ratio of at least 110% is achieved, taking into account the medium-term capital management plan;
41.1.9. in the case of items set out in subpoints 15.1.1 and 15.2.1, either the legal act
governing the basic own-fund item or the applicable regulatory framework allows for the cancellation of distributions in relation to that item if the solvency ratio is not complied with or if the distribution would lead to non-compliance with that ratio, with cancellation applying until the solvency ratio is complied with, except for the provisions of subpoint 41.1.8;
41.1.10. the basic own-fund items referred to in subpoints 15.1, 15.2 and 15.5 may allow the
repayment or redemption of that item, where the solvency ratio is not complied with or where repayment or redemption would lead to non-compliance with that ratio, only when all of the following conditions are met:
41.1.10.1. The National Bank of Moldova has exceptionally waived the suspension of the
repayment or redemption of that item;
41.1.10.2. the item is exchanged for or converted into another Tier 1 own-fund item of at
least the same quality, in the case of items referred to in subpoints 15.1, 15.2 and 15.5;

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41.1.10.3. after repayment or redemption, the solvency ratio is complied with;
41.1.11. the basic own-fund items referred to in subpoints 15.1.1, 15.2.1 and 15.5 may allow
the distribution of that item, where the solvency ratio is not complied with or where the distribution would lead to non-compliance with that ratio, only when all of the following conditions are met:
41.1.11.1. the item is exchanged for or converted into another Tier 1 own-fund item of at
least the same quality, in the case of items referred to in subpoints 15.1 15.2 and 15.5;
41.1.11.2. the distribution does not further deteriorate the solvency ratio, in the case of items
referred to in subpoints 15.1.1, 15.2.1 and 15.5;
41.1.11.3. after the distribution is made, the solvency ratio is complied with;
41.2. for the purposes of this point, the exchange or conversion of a basic own-fund item
into another Tier 1 basic own-fund item or the repayment or redemption of a Tier 1 own-fund item out of the proceeds of a new basic own-fund item shall not be deemed to be a repayment or redemption, provided that the exchange, conversion, repayment or redemption is subject to prior approval of the National Bank of Moldova;
41.3. the following basic own-fund items provide the insurance or reinsurance undertaking
with full flexibility regarding distributions related to those items, if all of the following conditions are met:
41.3.1. in the case of basic own-fund items referred to in subpoints15.1.1 and 15.2.1:
41.3.1.1. there is no preferential treatment regarding the order of distributions payments, and
the terms of the contractual arrangement governing the own-fund item do not provide preferential rights to the payment of distributions;
41.3.1.2. distributions are paid out of distributable items;
41.3.1.3. there is no cap or other restriction on the maximum level of distribution;
41.3.1.4. there is no obligation for an insurance or reinsurance undertaking to make
distributions;
41.3.1.5. non-payment of distributions does not constitute an event of default of the
insurance or reinsurance undertaking;
41.3.1.6. the cancellation of distributions imposes no restrictions on the insurance or
reinsurance undertaking;
41.3.2. in the case of basic own-fund items referred to in subpoints 15.1.2, 15.2.2 and 15.5:
41.3.2.1. distributions are paid out of distributable items;
41.3.2.2. insurance and reinsurance undertakings have full discretion at all times to cancel
distributions in relation to the own-fund item for an unlimited period and on a non-cumulative basis and the undertakings may use the cancelled payments without restriction to meet its obligations as they fall due;
41.3.2.3. there is no obligation to substitute the distribution by a payment in any other form;
41.3.2.4. there is no obligation to make distributions in the event of a distribution being made
on another own-fund item;
41.3.2.5. non-payment of distributions does not constitute an event of default of the
insurance or reinsurance undertaking;
41.3.2.6. the cancellation of distributions imposes no restrictions on the insurance or
reinsurance undertaking.
Section 6
Tier 2 Basic own funds

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42. The basic own-fund items set out in subpoints 15.1, 15.2 and 15.5, which broadly exhibit
the features set out in subpoint 39.1.2, taking into account the particularities specified in subpoint 39.2, shall be classified as Tier 2 items when they correspond to the following:
42.1. the respective basic own-fund items correspond to the following particularities:
42.1.1. the basic own-fund item does not include features which may cause the insolvency
of the insurance or reinsurance undertaking or may accelerate the process of the undertaking becoming insolvent;
42.1.2. the basic own-fund item is undated or has an original maturity of at least 10 years
and the first contractual opportunity to repay or redeem the basic own-fund item does not occur before 5 years from the date of issuance;
42.1.3. the basic own-fund item is only repayable or redeemable at the option of the
insurance or reinsurance undertaking and the repayment or redemption of the basic own-fund item is subject to prior approval of the National Bank of Moldova;
42.1.4. the basic own-fund item may include limited incentives to repay or redeem that basic
own-fund item, provided that these do not occur before 10 years from the date of issuance;
42.1.5. the basic own-fund item provides for the suspension of repayment or redemption of
that item if the solvency ratio is not complied with or if the repayment or redemption would lead to non-compliance with the solvency ratio, until the insurance or reinsurance undertaking complies with the solvency ratio;
42.1.6. the basic own-fund item meets one of the following criteria:
42.1.6.1. in the case of items set out in subpoints 15.1.1 and 15.2.1, either the legal act
governing the basic own-fund item, or the regulatory framework allows the distributions in relation to that item to be deferred if the solvency ratio is not complied with or if the distribution would lead to non-compliance with the solvency ratio until the insurance or reinsurance undertaking complies with the solvency ratio;
42.1.6.2. in the case of basic own-fund items referred to in subpoints 15.1.2, 15.2.2 and 15.5,
the terms of the contractual arrangement governing the basic own-fund item provide for the distributions in relation to that item to be deferred, if the solvency ratio is not complied with or if the distribution would lead to non-compliance with that ratio, until the insurance or reinsurance undertaking complies with the solvency ratio;
42.1.7. the basic own -fund item may only allow for a distribution to be made when the
solvency ratio is not complied with or when the distribution would lead to non-compliance with the solvency ratio, where all of the following conditions are met:
42.1.7.1. The National Bank of Moldova has exceptionally waived the deferral of
distributions;
42.1.7.2. the making of distributions does not further weaken the solvency ratio of the
insurance or reinsurance undertaking;
42.1.7.3. the solvency ratio is complied with after the distribution is made;
42.1.8. the basic own-fund item is not pledged in any way, does not serve as a source for the
payment of obligations under bank guarantees, is not encumbered in any other way, including not being connected with any other transaction which, if considered together with the basic own-fund item, could result in non-compliance of the basic own-fund item with the provisions of this point;
42.1.9. the basic own-fund item may only allow for the repayment or redemption of that item
where the solvency ratio is not complied with or where repayment or redemption would lead to non-compliance with this requirement, where all of the following conditions are met:

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42.1.9.1. the National Bank of Moldova has exceptionally waived the suspension of the
repayment or redemption of that item;
42.1.9.2. the item is exchanged for or converted into another Tier 1 or Tier 2 basic own-fund
item of at least the same quality;
42.1.9.3. the solvency ratio is complied with after the repayment or redemption;
42.2. For the purposes of this point, the exchange or conversion of a basic own-fund item
into another Tier 1 or Tier 2 basic own-fund item or the repayment or redemption of a Tier 2 basic own-fund item out of the proceeds of a new basic own-fund item of at least the same quality shall not be deemed to be a repayment or redemption, provided that the exchange, conversion, repayment or redemption is subject to the prior approval of the National Bank of Moldova.
Section 7
Tier 3 Basic own funds
43. Basic own-fund items set out in subpoints 15.1.2, 15.2.2 and 15.5 which largely exhibit
the features specified in subpoint 39.1.2, taking into account the particularities set out in subpoint 39.2, shall be classified as Tier 3 items when they meet the following:
43.1. the respective basic own-fund items correspond to the following particularities:
43.1.1. the basic own-fund item does not include features which may cause the insolvency
of the insurance or reinsurance undertaking or may accelerate the process of the undertaking becoming insolvent;
43.1.2. the basic own-fund item referred to in point 15, subpoints 15.1.2, 15.2.2 and 15.5:
43.1.2.1. is undated or has an original maturity of at least 5 years, where the maturity date is
the first contractual opportunity to repay or redeem the basic own-fund item;
43.1.2.2. is only repayable or redeemable at the option of the insurance or reinsurance
undertaking, and its repayment or redemption is subject to the prior approval of the National Bank of Moldova;
43.1.2.3. may include limited incentives to repay or redeem that basic own-fund item;
43.1.2.4. provides for the suspension of repayment or redemption if the solvency ratio is not
complied with or if repayment or redemption would lead to non-compliance with the solvency ratio until the solvency ratio is complied with;
43.1.2.5. provides for the deferral of distributions, if the solvency ratio is not complied with
or if the distribution would lead to non-compliance, until the solvency ratio is complied with;
43.1.3. the basic own-fund item may only allow for the repayment or redemption of that item
where the solvency ratio is not complied with or where repayment or redemption would lead to non-compliance with this requirement, where all of the following conditions are met:
43.1.3.1. The National Bank of Moldova has exceptionally waived the suspension of the
repayment or redemption of that item;
43.1.3.2. the item is exchanged for or converted into another Tier 1, Tier 2 basic own-fund
item or Tier 3 basic own-fund item of at least the same quality;
43.1.3.3. the solvency ratio is complied with after the repayment or redemption;
43.1.4. the basic own-fund item is not pledged in any way, does not serve as a source for the
payment of obligations under bank guarantees, is not encumbered in any other way, including not

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43.2. for the purposes of this point, the exchange or conversion of a basic own-fund item
into another Tier 1, Tier 2 basic own-fund item or Tier 3 basic own-fund item or the repayment or redemption of a Tier 3 basic own-fund item out of the proceeds of a new basic own-fund item of at least the same quality shall not be deemed to be a repayment or redemption, provided that the exchange, conversion, repayment or redemption is subject to the prior approval of the National Bank of Moldova.
Section 8
Tier 2 and Tier 3 ancillary own funds
44. The ancillary own-fund items referred to in point 22, which exhibit the features set out
in subpoint 39.1.2, taking into account the particularities specified in subpoint 39.2, shall be classified as Tier 2 items when they possess the features of a basic own-fund item classified in Tier 1 in accordance with point 41, once that item has been called up and paid in.
45. An ancillary own-fund item shall be classified as a Tier 3 ancillary own-fund item, as set
out in point 22, which does not have the particularities specified in point 44.
Section 9
Prior approval by the National Bank of Moldova of the assessment and classification of own-fund items
46. If an own-fund item is not included in the list of own-fund items referred to in points 15
and 22, insurance or reinsurance undertakings shall consider that item as basic or ancillary own funds only after prior approval of its assessment and classification by the National Bank of Moldova.
47. On the basis of the application of the insurance or reinsurance undertaking, signed by the
chairman of the undertaking’s board or the head of the executive body, and the documents submitted, the National Bank of Moldova, when approving the assessment and classification of own-fund items which are not included in the list of own-fund items set out in points 15, 37, 43, 44, 45, shall assess the following:
47.1. where the undertaking is applying for prior approval for classification as Tier 1 basic
own funds, whether the basic own-fund item in question substantially complies with point 39;
47.2. where the undertaking is applying for approval for classification as Tier 2 basic own
funds, whether the own-fund item in question substantially complies with the provisions of subpoints 39.1.2 and 39.2;
47.3. when the undertaking is applying for approval for classification as Tier 2 ancillary own
funds, whether the ancillary own-fund item in question substantially complies with point 39;
47.4. when applying for approval for classification as Tier 3 basic own funds, whether the
own-fund item in question substantially complies with the provisions of subpoints 39.1.2 and 39.2;
47.5. the own-fund item has enforceability imposed by contractual terms or by the provisions
of the applicable law;
47.6. whether the own-fund item has been fully paid-in.
48. Basic own-fund items not included in the list of items set out in subpoints 15.1 to 15.5
shall only be classified as Tier 1 basic own funds where they are fully paid up.

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Section 10
Prior approval by the National Bank of Moldova of repayment and redemption
49. The insurance or reinsurance undertaking requests prior approval from the National Bank
of Moldova for the repayment or redemption of own-fund items, in accordance with subpoints
41.1.7.1 and 41.2, 42.1.3 and 42.2, 43.1.2.2 and 43.2, by submitting an application, signed by the
chairman of the undertaking’s board or the head of the executive body, along with supporting documents.
50. An insurance or reinsurance undertaking must submit the application for prior approval
to the National Bank of Moldova three months before the first of the following dates:
50.1. the contractual notice required to be given to the holders of the repayment or
redemption item;
50.2. the proposed repayment or redemption date.
51. The insurance or reinsurance undertaking, in accordance with point 49, must provide the
National Bank of Moldova with an assessment of the repayment or redemption, taking into account:
51.1 the current as well as the short- to medium-term impact on the overall solvency position
of the undertaking, and how the action is consistent with the undertaking's medium-term capital management plan and the results of the internal own risk and solvency assessment;
51.2 the ability of the undertaking to attract additional own funds, if necessary, given the
broader economic conditions and its access to capital markets and other sources for additional own funds.
52. Where an insurance or reinsurance undertaking proposes a series of repayments or
redemptions over a short period of time, it should inform the National Bank of Moldova which may consider the series of transactions as a whole, rather than on an individual basis.
53. The National Bank of Moldova shall grant prior approval or reject the application for
prior approval from the insurance or reinsurance undertaking in accordance with the conditions set out in points 27-30.
54. After receiving prior approval from the National Bank of Moldova for repayment or
redemption, the insurance or reinsurance undertaking must:
54.1. consider that the exercise of call options, or other repayment or redemption options is
permitted but not mandatory under the terms of the contractual agreement applicable to the own￾fund item;
54.2. when it excludes an item treated as repaid or redeemed, starting from the date of
notification to the holders of the item or, if no notification is required, from the date of approval by the National Bank of Moldova, the relevant own funds category shall be reduced, and no adjustment or recalculation of the reconciliation reserve shall be made;
54.3. to continue to monitor its solvency position for any non-compliance or potential breach
of the solvency ratio, which could lead to the suspension of repayment or redemption during the period up to the date of repayment or redemption;
54.4. not to continue the repayment or redemption once commenced if this would lead to a
breach of the solvency ratio, even if a notice of repayment or redemption has been communicated to the holders of the items. If the repayment or redemption is suspended under these circumstances, the undertaking may reclassify the item as available own funds, and the prior approval of the National Bank of Moldova for repayment or redemption is withdrawn.

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Section 11
Restricted own funds
55. Restricted own funds shall be deducted from the reconciliation reserve.
56. Restricted own-fund items shall not include the value of future transfers attributable to
shareholders and are considered to be items that have a reduced capacity to fully absorb losses on a going-concern due to their lack of transferability within the insurance or reinsurance undertaking for any of the following reasons:
56.1. the items can only be used to cover losses arising from a particular part of the insurance
or reinsurance contracts of the insurance or reinsurance undertaking;
56.2. the items can only be used to cover losses in respect of certain policyholders or
beneficiaries of insurance;
56.3 items may be used only to cover losses arising from particular risks or liabilities.
Section 12
Eligibility of own funds for solvency
57. As far as compliance with the Minimum Capital Requirement, the eligible amounts of
Tier 1 and Tier 2 basic own-fund items shall be subject to all of the following quantitative limits:
57.1. Tier 1 net basic own-fund items shall be at least 80% of the value of the MCR;
57.2. Tier 2 net basic own-fund items shall not exceed 20% of the value of the MCR;
57.3. the sum of the Tier 1 basic own-fund items as referred to in subpoints 15.1.2, 15.2.2
and 15.5 shall make up less than 20% of the Tier 1 net basic own-fund items.
58. The value of Tier 1 and Tier 2 own funds exceeding the limits set out in subpoints 57.2
and 57.3 is deducted from the amount of own funds eligible for solvency.
59. The amount of own funds eligible for solvency is calculated as the sum of Tiers 1 and 2
basic own-fund items, taking into account the provisions of point 58, using the following formula:
where:
FPE – own funds eligible for solvency;
FPB1 – Tier 1 net basic own funds;
FPB2 – Tier 2 net basic own funds; g – the weight of the value of Tier 1 net basic own-fund items set out in subpoints 15.1.2,
15.2.2 and 15.5, expressed as a percentage of the total FPB1;
k – the weight of the value of Tier 2 net basic own-fund items, expressed as a percentage of the total MCR.
Chapter IV
MINIMUM CAPITAL REQUIREMENT
60. The MCR corresponds to an amount of eligible basic own funds below which
policyholders and insurance beneficiaries would be exposed to an unacceptable level of risk if the insurance or reinsurance undertaking were to continue its activity.
61. The MCR is calculated in a clear, simple, and auditable manner.

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62. The MCR is calculated in accordance with Annexes No 3 and No 4, separately for the
insurance and reinsurance obligations assumed in respect of non-life insurance or life insurance classes, but cannot be lower than the absolute threshold of this requirement provided in Article 74 of Law No 92/2022, according to the following formula:
where:
MCRliniar – MCR calculated as a linear function, in accordance with point 63; PACCM – the absolute floor of the MCR referred to in Article 74 (1) (a)-(d) of Law No 92/2022; kt – the transition factor, determined in accordance with Article 123 (1) of Law No 92/2022, established for the period t from the date of entry into force of the law (t = 1,2,3,4,5), expressed as a percentage.
63. MCRliniar is calculated as a linear function of a set of variables, separately for the
insurance or reinsurance obligations assumed, corresponding to non-life insurance or life insurance classes, in accordance with the following formulas:
63.1. for the insurance and reinsurance obligations assumed, corresponding to non-life
insurance classes:
where:
MCRliniar"AG" – the minimum capital requirement for the insurance and reinsurance obligations assumed, corresponding to non-life insurance classes; RAG,i – net technical provisions for non-life insurance class i; PAG,i – net premiums written during the last 12 months prior to the reporting date, for non￾life insurance class i, after deduction of premiums returned on contracts under resolution and/or cancelled premiums; αi – the risk factor for the technical provisions of insurance class i, established in accordance with the ASIG 2.7B report, Annex No 3, expressed as a percentage; βi – the risk factor for the written premiums of insurance class i, as determined in accordance with the ASIG 2.7B report, Annex No 3, expressed as a percentage;
63.2. for the insurance or reinsurance obligations assumed, corresponding to life insurance
classes:
where:
MCRliniar"AV" – the minimum capital requirement for insurance or reinsurance obligations assumed corresponding to life insurance classes; RAV,1 – net technical provisions in relation to guaranteed benefits of life insurance or reinsurance obligations with profit participation, with a floor equal to zero;

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RAV,2 – net technical provisions in relation to non-guaranteed (discretionary) benefits for life insurance or reinsurance obligations with profit participation, with a floor equal to zero; RAV,3 – net technical provisions related to the non-guaranteed (discretionary) benefits for index-linked and unit-linked life insurance or reinsurance obligations, with a floor equal to zero; RAV,4 – net technical provisions related to all other benefits of life insurance or reinsurance obligations, except for those from RAV,1, RAV,2, RAV,3; CR – the total capital (sum) at risk of life insurance contracts that give rise to insurance or reinsurance obligations related to the risk of death and disability, calculated according to the following formula:
where:
DI1 – the total amount that the insurance or reinsurance undertaking would currently pay in the event of death or disability under insurance or reinsurance contracts covering the risk of death and disability, after deduction of the reinsurance undertaking's share (lump-sum death and disability benefits payable in the event of death and disability); DI2 – the estimated present value of the amounts not included in DI1 which the insurance or reinsurance undertaking would pay in the future in the event of death and disability under insurance or reinsurance contracts covering the risk of death and disability, after deduction of the reinsurance undertaking's share (insurance benefits for death and disability risk payable in the form of annuities); RAV,DI – the net technical provisions for life insurance classes, related to insurance or reinsurance contracts covering the risk of death and disability for which DI1 and/or DI2 have been calculated.
Chapter V
SOLVENCY RATIO
64. The Solvency Ratio (hereinafter - RS) of the insurance or reinsurance undertaking shall
be expressed as a percentage (calculated to the nearest tenth of a whole number) and shall be calculated as the ratio between the eligible amount of own funds for solvency and the higher of the MCR and the Minimum Solvency Margin (hereinafter - MSM), in accordance with the formula:
where:
MSM – shall be calculated and reflected in the Minimum Solvency Margin Report, as set out in Annexes No 5 and 6, separately for the insurance activity conducted in the 'non-life insurance' and 'life insurance' classes.
65. The insurance or reinsurance undertaking is required to maintain at all times a solvency
ratio of no less than 100%, below which it shall be deemed to be unable to meet its obligations as they fall due.

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66. A solvency ratio of less than 110% but more than 100% indicates a deterioration in the
financial situation.
67. The insurance or reinsurance undertaking is required to monitor on a continuous basis
the solvency ratio, which shall be reported in accordance with Annex No 7 separately for the insurance activity conducted in the 'non-life insurance' and 'life insurance' classes.
68. If the solvency ratio is found to be below the level referred to in points 65 or 66 or if
there is a risk of non-compliance within the next three months, the insurance or reinsurance undertaking is required to immediately inform the National Bank of Moldova, attaching the solvency report prepared in accordance with Annex No 7 confirming this fact, and also providing the reasons for the non-compliance or the risk of non-compliance.
Chapter VI
ASSETS ELIGIBLE TO COVER TECHNICAL PROVISIONS AND THE MINIMUM CAPITAL REQUIREMENT
69. Technical provisions and the MCR may only be covered by the eligible assets referred
to in Article 59 (1) of Law No 92/2022 and in accordance with the restrictions on these assets laid down in Article 60 of the aforementioned Law, at the prudential value determined under the conditions of Chapter II.
70. The reporting on the distribution of assets eligible to cover technical provisions and
MCRs, including the aggregate values regarding compliance with the coverage requirements, shall be carried out separately for the 'non-life insurance' class and the 'life insurance' class, as set out in Annexes No 8 to 12 and 16 to 19.
71. Assets that do not comply with the provisions of Article 58 (5) of Law No 92/2022 are
not eligible to cover technical provisions and the MCR.
72. The insurance or reinsurance undertaking shall treat assets admitted to trading on a
regulated market, but not traded or occasionally traded, in a similar manner to those assets not admitted to trading on a regulated market.
73. The insurance or reinsurance undertaking shall be obliged to develop a methodology for
the allocation of the categories of assets eligible to cover technical provisions and the MCR, in accordance with Article 59 (2) and (4) of Law No 92/2022, according to one of the following methods:
73.1. the standard method, as referred to in point 74;
73.2. the internal method.
74. The standard method for the allocation of the assets eligible to cover technical provisions
and the MCRs requires compliance with the following consecutive steps and calculation formulas:
74.1. first, the assets eligible to cover technical provisions shall be allocated, in compliance
with the share quotas set out in Article 60 (1) of Law No 92/2022, through the following consecutive steps:
74.1.1. the preliminary value of the assets eligible to cover the net technical provisions is
calculated, allocated in accordance with the following formula:
where:

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ADPi,R – the preliminary value of the assets eligible to cover the net technical provisions of type i, referred to in Article 59 (1) of Law No 92/2022, distributed according to the GIi,R share quotas; gi,e,R – the share quota related to the asset eligible to cover the net technical provisions of type i established for a single counterparty e (issuer, real estate, bank), as referred to in Article 60 (1) of Law No 92/2022, adjusted in accordance with the values set out in Article 123 (3) of Law No 92/2022; Ai,e,R – the value of the asset eligible to cover the net technical provisions of type i relating to a single counterparty e (issuer, real estate, bank), as provided in Article 59 (1) of Law No 92/2022; GIi,R – the share quota related to the assets eligible to cover the net technical provisions of type i, referred to in Article 60 (1) of Law No 92/2022, adjusted in accordance with the values set out in Article 123 (3) of Law No 92/2022; R – total net technical provisions of the insurance or reinsurance undertaking; Ai,R – the value of the assets eligible to cover the net technical provisions of type i, determined in accordance with Article 59 (1) of Law No 92/2022;
74.1.2. the final value of the assets eligible to cover the net technical provisions, distributed
according to the formula:
where:
ADFi,R – the final distributed value of the asset eligible to cover the net technical provisions of type i, referred to in Article 59 (1) of Law No 92/2022; ADPR – the total sum of the preliminary value of the assets eligible to cover the net technical provisions, distributed in accordance with the share quotas (∑iADPi,R);
74.1.3. for the asset provided in Article 59 (1) (m) of the Law No 92/2022, the preliminary
and final value of the asset eligible to cover the technical provisions is equal to the value of the share held by reinsurance undertakings or coinsurers in the total gross technical provisions, determined in accordance with the provisions of the normative acts of the National Bank of Moldova;
74.2. secondly, the assets eligible to cover the MCR are distributed, in compliance with the
share quotas laid down in Article 60 (2) of Law No 92/2022, in the following consecutive steps:
74.2.1. the excess of assets eligible to cover the MCR is calculated for each asset type i,
according to the formula:
where:
EAi,MCR – the excess of assets eligible to cover the MCR of type i, referred to in Article 59 (1) of Law No 92/2022; Ai,MCR – the value of the assets eligible to cover the MCR of type i, referred to in Article 59 (1) of Law No 92/2022;
74.2.2. the final value of the assets eligible to cover the MCR is calculated, distributed
according to the formula:

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ADFi,MCR – the final distributed value related to the asset eligible to cover the MCR of type i, referred to in Article 59 (1) of Law 92/2022; gi,e,MCR – the share quota related to the asset eligible to cover the MCR of type I, established for a single counterparty e (issuer, real estate, bank), as referred to in Article 60 (2) of Law No 92/2022; EAi,e,MCR – the value of the asset eligible to cover the MCR of type i, related to a single counterparty e (issuer, real estate, bank), as referred to in Article 59 (1) of Law No 92/2022; Gi,MCR – the share quota related to the asset eligible to cover the MCR of type i, as provided in Article 60 (2) of Law No 92/2022.
75. The insurance or reinsurance undertaking indicates the method used for the allocation of
assets to cover technical provisions and MCR in the specialized reports.
76. The methodology referred to in point 73 is developed in accordance with the following
principles:
76.1. first, the assets eligible to cover technical provisions are distributed;
76.2. second, the assets eligible to cover the MCR are distributed;
76.3. the value of the assets covering technical provisions cannot be used to cover the MCR.
77. The notification regarding the method used and the methodology for the allocation of
asset categories eligible to cover the technical provisions and MCR, signed by the executive body and the head of the actuarial function of the insurance or reinsurance undertaking, shall be submitted to the National Bank of Moldova along with the specialized report forms, within the deadlines specified in point 89.
78. The insurance or reinsurance undertaking submits with the specialized report forms,
within the deadlines specified in point 89, the special register of assets eligible to cover the technical provisions and the Minimum Capital Requirement, in accordance with Annexes No 20 and 21, separately for the insurance activities carried out in the categories 'non-life insurance' and 'life insurance'.
Chapter VII
LIQUIDITY RATIO
79. The insurance or reinsurance undertaking is required to maintain at all times an adequate
level of eligible liquidity, as set out in point 82, to enable it to meet its obligations arising from insurance contracts and operating expenses as they fall due.
80. The insurance or reinsurance undertaking shall take the necessary measures to ensure the
security of its liquid assets in order to prevent deterioration in their liquidity.
81. The liquidity level of the insurance or reinsurance undertaking is determined by the
liquidity ratio, calculated according to the following formula:
where:

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CL – the liquidity ratio, calculated to hundredths (two decimal places after the whole part); AL – the value of liquid assets eligible for liquidity purposes, as determined in accordance with point 83; D – the value of liabilities eligible for liquidity purposes, as determined in accordance with point 84.
82. The insurance or reinsurance undertaking is required to maintain at all times an
acceptable level of liquidity, corresponding to a liquidity ratio of at least 1,00 (one point zero zero).
83. The following liquid assets determined at the prudential value in accordance with
Chapter II are eligible for liquidity purposes:
83.1. state securities issued by the Government of the Republic of Moldova;
83.2. state securities issued by the Government of an EU Member State or an OECD Member
State, by an international financial organization or an entity for which one of the nominated entities acts as guarantor, provided that the states or international financial institutions have a rating of BBB+ or higher;
83.3. deposits held in a bank licensed by the National Bank of Moldova, whose registered
office is located in the Republic of Moldova or in a bank with a rating of at least BBB+ in an EU Member State or an OECD Member State, that may be withdrawn unconditionally at any time;
83.4. Cash on hand and current accounts in banks licensed by the National Bank of Moldova,
which may be withdrawn unconditionally at any time.
84. For the purpose of determining the liquidity ratio of the insurance or reinsurance
undertaking, the following liabilities are taken into account:
84.1. for the insurance or reinsurance undertaking operating in the 'non-life insurance' class:
84.1.1. the amount of the reserve for reported but not settled claims outstanding (RBNS) for
all classes of insurance, reduced by the amount of RBNS relating to pending court litigation and reduced by 50% of the reinsurers' or coinsurers' share of the RBNS;
84.1.2. any amount of debts with overdue maturity at the reporting date or falling due within
90 days after the reporting date, other than technical provisions;
84.2. for the insurance or reinsurance undertaking operating in the 'life insurance' class:
84.2.1. the amount calculated as 0.5% of the total insured sums related to death insurance;
84.2.2. the maximum amount calculated between:
84.2.2.1. the amount of 0.5% of the total sum insured in respect of insurance covering the
risk of death and where a surrender value is guaranteed;
84.2.2.2. 5% of the total value of the surrender sums in respect of insurance covering the risk
of death for which a surrender value is guaranteed;
84.2.3. the calculated amount of 10% of the total value of the surrender sum in the case of
insurance not covering the death risk, for which a surrender value is guaranteed;
84.2.4. the amount of the reserve for reported but not settled claims outstanding (RBNS) for
all classes of insurance, reduced by the amount of RBNS relating to pending court litigation and reduced by 50% of the reinsurers' or coinsurers' share of the RBNS;
84.2.5. any amount of debts with overdue maturity at the reporting date or falling due within
90 days after the reporting date, other than technical provisions.
85. Liquid assets, as referred to in point 83, are not eligible for liquidity purposes if they are
pledged in any way, serve as a source of payment for liabilities under bank guarantees or are otherwise encumbered.

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86. The insurance or reinsurance undertaking calculates the liquidity ratio separately for the
activities carried out in the 'non-life insurance' and 'life insurance' classes and is obliged, in accordance with the Regulation, to prepare and submit the liquidity report in accordance with Annexes No 13 and/or 14.
87. Where the insurance or reinsurance undertaking does not comply with the accepted level
of liquidity referred to in point 82, it shall notify the National Bank of Moldova as soon as it becomes aware of the non-compliance with the accepted level of liquidity or if there is a risk of non-compliance within the next three months, attaching the liquidity report prepared in accordance with Annexes No 13 and/or No 14 confirming this fact, and also stating the reasons for the non￾compliance or the risk of non-compliance.
88. The insurance or reinsurance undertaking completes and submits the Register of
litigation pending before the courts, for which the insurance or reinsurance undertaking is a defendant, as set out in Annex No 15, separately for the activity carried out in the 'non-life insurance' and 'life insurance' classes.
Chapter VIII
DEADLINES AND FORM FOR SUBMITTING REPORTS
89. The insurance or reinsurance undertaking submits to the National Bank of Moldova the
statements regarding own funds, the MCR, solvency and liquidity, as well as the distribution of assets covering technical provisions and the MCR, on a quarterly basis, by the 30th of the month following the reporting period, except for the annual statements, which are submitted by February 28 of the year following the reporting period, and at any other date requested by the National Bank of Moldova, in accordance with the specialized report forms provided in Annexes No 1-15 and No 20-21.
90. The insurance or reinsurance undertaking subject to the decision to withdraw its license
to conduct insurance or reinsurance activities and which is liable for obligations under insurance and/or reinsurance contracts, in respect of which the court decision to open insolvency proceedings and/or the court decision to open winding-up proceedings is not adopted, shall apply, as appropriate, the provisions on the valuation of assets and liabilities, the calculation and reporting of own funds, the MCR, solvency and liquidity, as well as the distribution of assets covering technical provisions and the MCR laid down in this Regulation.
91. Where the reporting deadline falls on a public holiday or a day of rest, reports shall be
submitted at the latest by the end of the following working day.
92. The specialized reports mentioned in point 89 shall be submitted in electronic form,
through the National Bank of Moldova's Information System for reporting, in accordance with the normative acts of the National Bank of Moldova regarding electronic reporting.
93. The electronic report submitted in accordance with the requirements of point 92,
electronically signed by the authorized person, is considered the original and has legal effect for the insurance or reinsurance undertaking. The right to sign/submit reports to the National Bank of Moldova may only be exercised by the authorized person who holds the public key certificate.
94. Specialized reports shall include the name, surname, and contact telephone number of
the person responsible for preparing the report. The responsible person is the one holding the key position, according to the duties and responsibilities established in accordance with Law No 92/2022.

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95. The insurance or reinsurance undertaking is responsible for the accuracy, veracity, and
timeliness of the information submitted through electronic reporting to the National Bank of Moldova.
96. Before being submitted to the National Bank of Moldova, the data in the reports drawn
up as of the reference date shall be reconciled with the data from previous reports. In the event of significant discrepancies compared to previous periods, an explanatory note detailing the reasons for the changes shall be submitted along with the report.
97. The insurance or reinsurance undertaking must inform the National Bank of Moldova
about any errors detected in the reports previously submitted to the National Bank of Moldova, for all reporting periods in which they were committed or for which they had an impact, within 5 working days from the date of their discovery.
98. When preparing the specialized reports, the insurance or reinsurance undertaking shall
take into account the acts of the National Bank of Moldova that order measures or impose sanctions on insurance or reinsurance undertakings in accordance with Law No 548/1995 on the National Bank of Moldova and/or Law No 92/2022, if reporting violations have been detected.
Annex No 1
to the Regulation own funds, the valuation of assets and liabilities, assets eligible to cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking
I. Report form
IDNO code ________________________ ASIG0205
Insurance category
________________________ Form code
ASIG 2.5 OWN FUNDS REPORT
As of______ 20__
No Own-fund items Rank
1
Rank
2
Rank
3
TOTAL
1 2 3 4 5 6=3+4+5
I. Basic own funds

1. Paid-in share capital (r.1.1+r.1.2), of which:
   1.1. ordinary shares x
   1.2. preference shares
2. Share premium related to share capital
   (r.2.1+r.2.2), of which:
   2.1. ordinary shares x
   2.2. preference shares
3. Surplus funds that are not considered as
   insurance or reinsurance liabilities x x

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4. Reconciliation reserve x x
5. Paid-in subordinated liabilities valued in
accordance with point 4 of the Regulation
6 Basic own funds – total (r.1+r.2+ ...+ r.5) 7 The total value of participations held by insurance or reinsurance undertakings in the bank, investment undertaking and/or non-bank financial undertaking which exceed 10% of the items set out in r.1 to r.4, corresponding to the tiers to which they relate x 8 Net basic own funds – total (r.6 - r.7)
II. Ancillary own funds
9. Unpaid and uncalled subscribed capital,
payable on demand x x
10. Unpaid and uncalled preference shares,
preference shares payable on demand x
11. Legally binding commitment to subscribe and
pay for subordinated liabilities on demand x
12. Letters of credit and guarantees that are held in
trust by an independent trustee for the benefit of insurance creditors and provided by banks x x
13. Letters of credit and guarantees provided,
other than those in row 12, under which items can be called up on demand and are clear of encumbrances x
14. Other legally binding commitments received
by the insurance or reinsurance undertaking, provided that the items can be called up on demand and are clear of encumbrances x x
15. Ancillary own funds – total
(r.9+r.10+...+r.14) x
16. Own funds – TOTAL (r.8 + r.15)
Executor and telephone number _____________
II. Guidelines for completing the Own Funds Report

1. The own funds report shall be completed in accordance with the provisions
   of Chapters II and III of the Regulation.
2. Row 4, column 3 shall indicate the values recorded in row 4, column 3 of
   Annex No 2 to the Regulation.
   Annex No 2
   to the Regulation own funds, the valuation of assets and

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I. Report form
IDNO Code ______________________ ASIG0206
Insurance category
______________________ Form code
ASIG 2.6 REPORT ON THE RECONCILIATION RESERVE As of______ 20__ No Items of the reconciliation reserve Tier 1 Own Funds, MDL Note 1 2 3 4

1. Reconciliation reserve before deduction of
   restricted own funds - total
   (r.1.1-1.2-1.3-1.4), of which:
   1.1. Excess of assets over liabilities (r.1.1.1. -
   r.1.1.2.):
   1.1.1. assets – total
   1.1.2. liabilities – total
   1.2. Sum of items from r.1-3 col.3 of Annex No 1
   1.3. Value of own shares held (withdrawn capital)
   1.4. Dividends, distributions and related foreseeable
   expenses not approved for payment by the general meeting of shareholders (including the amount of interim dividends);
2. Detailed reconciliation reserve before
   deduction of restricted own funds - total
   (r.2.1+r.2.2+...+r.2.6), broken down by components:
   2.1. Retained earnings (undistributed profit or
   uncovered loss from previous years)
   2.2. Result of the financial year (undistributed profit
   or uncovered loss for the reporting period)
   2.3. Revaluation reserve for tangible fixed assets
   2.4. Reserves required by the regulatory framework
   2.5. Revaluation reserves on financial investments
   2.6. Other reserves
3. Restricted own funds

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4. Reconciliation reserve – total (r.1-r.3) or (r.2 –
r.3)
Executor and telephone number _____________
II. Guidelines for completing the Reconciliation Reserve Report

1. The reconciliation reserve report shall be completed in accordance with the
   provisions of Chapter II and III of the Regulation.
2. The values in column 3, rows 1 and 2 must be equal.
   Annex No 3
   to the Regulation own funds, the valuation of assets and liabilities, assets eligible to cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking
   I. Report form
   ASIG 2.7 REPORT ON THE MINIMUM CAPITAL REQUIREMENT IDNO Code __________________ ASIG0207A Insurance category Non-life insurance Form code ASIG 2.7A Minimum capital requirement calculation As of______ 20__ Minimum capital requirement calculated as a linear function (MCRliniar,AG), MDL Absolute floor of the minimum capital requirement, (PACCM), MDL Transition factor, (kt), % Minimum capital requirement - (MCR), MDL 1 2 3 4 = max (1; 2*3/100)

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IDNO Code ______________________ ASIG0207B
Insurance category
Non-life insurance Form code
ASIG 2.7B Minimum capital requirement calculated as a linear function of the variables - net written premiums and net technical provisions As of______ 20__ No Classes of insurance or reinsurance Net technical provisions (RAG,i), MDL Net written premiums, (PAG,i), MDL Risk factors for technical provisions (α,i), % Risk factors for written premiums (β,i), % Minimum capital requirement calculated as a linear function (MCRliniar,AG), MDL 1 2 3 4 5 6 7=35/100+ 46/100
I. Direct insurance

1. Workers’
   compensation insurance
   (including accidents at work and occupational diseases) 10,7 7,5
2. Health
   insurance
   4,7 4,7
3. Insurance of
   land vehicles
   (other than rail)
   7,5 7,5
4. Insurance of
   railway vehicle
   7,5 7,5
5. Aircraft
   insurance
   10,3 14,0
6. Insurance of
   maritime, lake, and inland waterway vessels
   10,3 14,0
7. Insurance of
   goods in transit
   10,3 14,0
8. Fire and other
   damage to
   9,4 7,5

44
Public property insurance covering damage to property and goods other than those included in classes 3 to 7
9. Other property
insurance
9,4 7,5
10. Compulsory
motor third party liability insurance
8,5 9,4
11. Aviation
liability insurance
10,3 13,1
12. Insurance of
maritime, lake, and inland waterway vessels
10,3 13,1
13. General
liability insurance
10,3 13,1
14. Credit
insurance
17,7 11,3
15. Guarantee
insurance
17,7 11,3
16. Financial loss
insurance
18,6 12,2
17. Legal expenses
insurance
11,3 6,6
18. Assistance
insurance for persons who get into difficulties while travelling, while away from home or from their habitual residence 18,6 8,5

45
Public
19. Direct
insurance
– total (r.1 + r.2
+...+ r.18) x x
II. Reinsurance
20. Proportional
workers’ compensation reinsurance
(including accidents at work and occupational diseases) 10,7 7,5
21. Proportional
health reinsurance
4,7 4,7
22. Proportional
reinsurance of land vehicles
(other than rail)
7,5 7,5
23. Proportional
reinsurance of railway vehicles
7,5 7,5
24. Proportional
reinsurance of aircraft
10,3 14,0
25. Proportional
reinsurance of maritime, lake and inland waterway vessels 10,3 14,0
26. Proportional
reinsurance of goods in transit
10,3 14,0
27. Proportional
reinsurance against fire and other natural catastrophes covering damage to property and goods other than those 9,4 7,5

46
Public included in classes 3 to 7
28. Other property
reinsurance
9,4 7,5
29. Proportional
compulsory motor third party liability reinsurance 8,5 9,4
30. Proportional
aviation liability reinsurance
10,3 13,1
31. Proportional
reinsurance of maritime, lake and inland waterway vessels 10,3 13,1
32. Proportional
general liability reinsurance
10,3 13,1
33. Proportional
credit reinsurance
17,7 11,3
34. Proportional
guarantee reinsurance
17,7 11,3
35. Proportional
reinsurance of financial losses
18,6 12,2
36. Proportional
legal expenses reinsurance
11,3 6,6
37. Proportional
reinsurance of assistance to persons who get into difficulties while travelling, while away from home or from their 18,6 8,5

47
Public habitual residence
38. Non￾proportional
reinsurance of any class
18,6 15,9
39. Reinsurance –
total (r.
20+r.21+...+ r.38) x x
40. TOTAL (r.19

• r.39)
  x x
  Executor and telephone number _____________
  II. Guidelines for completing the Report on the Minimum Capital
  Requirement

1. The ASIG 2.7A report shall be completed with the following information:

1. In column 1, indicate the value of MCRliniar, AG as provided in column 7,
   row 40 of the ASIG 2.7B report;
2. in column 2, indicate the value of the absolute floor of the MCR as
   stipulated in Article 74 (1) (a), (b) or (d) of Law No 92/2022;
3. In column 3, indicate the value provided for in Article 123 (1) of Law No
   92/2022, established for period t, as follows:
   t, years Period Value, %
   1 01.01.2024 – 31.12.2024 20%
   2 01.01.2025 – 31.12.2025 40%
   3 01.01.2026 – 31.12.2026 60%
   4 01.01.2027 – 31.12.2027 80%
   5 Starting from 01.01.2028 100%
4. In column 4, indicate the value of the MCR calculated according to the
   formula indicated in point 62 of the Regulation.

2. The ASIG 2.7B report shall be completed with the following information:

1. In column 3:
   a) for the rows in the 'Direct Insurance' section, indicate the value of the net technical provisions recorded at the end of the reporting period; b) for the rows in the 'Reinsurance' section, indicate the value of technical provisions for risks received under reinsurance, less the value of technical provisions ceded in retrocession, recorded at the end of the reporting period.
2. In column 4:
   a) for the rows in the 'Direct insurance' section, indicate the value of the net written premiums, after deducting the premiums refunded on contracts under the effect of cancellation and/or cancelled premiums, recorded in the last 12 months prior to the reporting date;

48
Public b) for the rows in the 'Reinsurance' section, indicate the value of the premiums written for risks received under reinsurance, less the amount of premiums ceded in retrocession, after deducting the premiums refunded on contracts under the effect of cancellation and/or cancelled premiums, written during the 12 months preceding the reporting date;
3) In column 7, the value of MCRliniar,AG, calculated according to the formula
laid down in subpoint 63.1 of the Regulation, is indicated.
Annex No 4
to the Regulation own funds, the valuation of assets and liabilities, assets eligible to cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking
I. Report form
ASIG 2.8 REPORT ON THE MINIMUM CAPITAL REQUIREMENT IDNO code ______________________ ASIG0208A Insurance category Life insurance Form code ASIG 2.8A Calculation of the minimum capital requirement As of______ 20__ Minimum capital requirement calculated as a linear function (MCRliniar,A), MDL Absolute floor of the minimum capital requirement, (PACCM), MDL Transition factor, (kt), % Minimum capital requirement - (MCR), MDL 1 2 3 4 = max (1; 2*3/100) IDNO code ______________________ ASIG0208B Insurance category Life insurance Form code ASIG 2.8B Minimum capital requirement calculated as a linear function of a set of variables As of______ 20__ No Variable names Net technical Risk factor coefficients for technical provisions Minimum capital requirement

49
Public provisions
(RAV,i),
MDL calculated as a linear function
(MCRliniar,AV),
MDL
1 2 3 4 5 = 3*4
I. Direct insurance

1. Guaranteed
   benefits of life insurance obligations with profit participation 0,037
2. Non￾guaranteed
   (discretionary) benefits of life insurance obligations with profit participation 0,052
3. Non￾guaranteed
   (discretionary) benefits of index-linked and unit￾linked life insurance obligations 0,007
4. Other benefits
   of life insurance obligations, except those from r.1-3 0,021
5. The capital
   (sum) at risk of life insurance contracts giving rise to insurance obligations related to the risk of death and disability 0,0007
6. Direct
   insurance – x

50
Public total (r.1

• r.2

• ... + r.5)
  II. Reinsurance

7. Guaranteed
   benefits life reinsurance obligations with profit participation 0,037
8. Non

• guaranteed
  (discretionary) benefits of life reinsurance obligations with profit participation 0,052

9. Non

• guaranteed
  (discretionary) benefits of index
  -linked and unit
• linked life
  reinsurance obligations
  0,007

10. Other benefits
    of life reinsurance obligations, except those in r. 7 - 9 0,021
11. The capital
    (sum) at risk of life reinsurance contracts giving rise to reinsurance obligations related to the risk of death and disability 0,0007
12. Reinsurance – total (r.7 -
    r.8 + ... + r.11) x

51
Public
13. TOTAL (r.6

• r.12)
  x
  IDNO code ____________________ ASIG0208C
  Insurance category
  Life insurance Form code
  ASIG 2.8C Calculation of the capital (sum) at risk As of______ 20__ No Form of insurance The total amount that the insurance or reinsurance undertaking would currently pay in the event of death and disability for the insurance or reinsurance contracts that cover the risk of death and disability, after deduction of the reinsurer's/retrocession's share (insurance indemnities for death and disability risk payable in lump sum), (DI1), MDL The estimated present value of amounts not included in (DI1)) which the insurance or reinsurance undertaking would pay in the future in the event of death and disability under insurance or reinsurance contracts covering the risk of death and disability, after deduction of the reinsurer's share (insurance indemnities for death and disability risk payable in the form of annuities), (DI2), MDL Net technical provisions for life insurance classes, related to insurance or reinsuranc e contracts covering the risk of death and disability for which the calculation has been made (RAV,DI), % Capital (sum) at risk (CR), MDL 1 2 3 4 5 6 = max (3+4- 5;0)

52
Public

1. Direct
   insurance
2. Reinsuranc
   e
   Executor and phone number _____________
   II. Guidelines for completing the Report on the Minimum Capital Requirement:
3. The ASIG 2.8A report shall be completed with the following information:

1. In column 1, indicate the value of MCRliniar,AV, as provided in column 5, row 13 of
   the ASIG 2.8B report;
2. In column 2 indicate the value of the absolute floor of the MCR as stipulated in
   Article 74 (1) (c) of Law No 92/2022;
3. In column 3 indicate the value provided for in Article 123 (1) of Law No 92/2022,
   established for period t, as follows:
   t, years Period Value, %
   1 01.01.2024 – 31.12.2024 20%
   2 01.01.2025 – 31.12.2025 40%
   3 01.01.2026 – 31.12.2026 60%
   4 01.01.2027 – 31.12.2027 80%
   5 Starting from 01.01.2028 100%
4. In column 4, indicate the value of the MCR calculated according to point
   62 of the Regulation.

2. The ASIG 2.8B report shall be completed with the following information:

1. In column 3:
   a) for the rows in the 'Direct Insurance' section, indicate value of the total net technical provisions, recorded at the end of the reporting period. b) for the rows in the 'Reinsurance' section, indicate the value of the total technical provisions for risks received under reinsurance, less the amount of technical provisions ceded in retrocession, recorded at the end of the reporting period; c) in rows 6 and 12 indicate the values in the ASIG 2.8C report, col.6, r.1, respectively, r.2.
2. in column 5 indicate the value of MCRliniar,AV calculated according to the
   formula mentioned in subpoint 63.2 of the Regulation.
   Annex No 5
   to the Regulation own funds, the valuation of assets and liabilities, assets eligible to cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking

53
Public
I. Report form
IDNO code ______________________ ASIG0209
Insurance category
Non-life insurance Form code
ASIG 2.9 REPORT ON THE MINIMUM SOLVENCY MARGIN As of______ 20__ No Classes of insurance or reinsurance Gross written premiums, MDL Net written premiums, (PAG,i), MDL Gross incurred claims, MDL Net incurred claims, MDL Risk factor MSM based on premiums MSM based on claims 1 2 3 4 5 6 7 8=max(37; 4) 0,25 9=max(5*7; 6)*0,35

1. Workers’
   compensation insurance
   (including accidents at work and occupational diseases) 0,85
2. Health
   insurance
   0,85
3. Insurance of
   land vehicles
   (other than rail)
   0,85
4. Railway
   vehicle insurance
   0,5
5. Aircraft
   insurance
   0,9
6. Insurance of
   maritime, lake, and inland waterway vessels
   0,5
7. Insurance of
   goods in transit
   0,7
8. Fire and
   other natural
   0,5

54
Public catastrophes insurance covering damage to properties and goods, other than those included in classes 3 -7.
9. Other
property insurance
0,5
10. Compulsory
third party liability insurance
0,85
11. Aviation
liability insurance
0,85
12. Maritime,
lake, and inland waterway liability insurance 0,85
13. General
liability insurance
0,85
14. Credit
insurance
0,9
15. Guarantee
insurance
0,9
16. Financial loss
insurance
0,9
17. Legal
expenses insurance
0,7
18. Assistance
insurance for persons who get into difficulties while traveling, while away from home or 0,7

55
Public their habitual residence
19. Total
(r.1+r.2+...+ r.18)
20 MSM x
Executor and telephone number_____________
II. Guidelines for completing the Report on the Minimum Solvency Margin

1. In column 3, indicate the value of the gross written premiums recorded in the last 12 months
   prior to the reporting date, from which premiums returned on contracts under resolution and/or cancelled premiums should be deducted.
2. In column 4, indicate the value of the net premiums, determined as the value of the gross
   written premiums less the amount of premiums ceded to reinsurance.
3. In column 5, indicate the value of the gross incurred claims, which is the sum of claims
   paid recorded in the last 12 months prior to the reporting date and the change in the claims reserves for the reporting period.
4. In column 6, indicate the value of the net incurred claims, calculated as the difference
   between the gross incurred claims and the reinsurers' shares of these claims.
5. In column 8, indicate the MSM based on premiums, which is equal to the product of 25%
   and the higher of the value of gross written premiums, multiplied by the risk factor (column 7), and the value of net written premiums.
6. In column 9, indicate the MSM based on claims, which is equal to the product of 35% and
   the higher of the value of gross incurred claims, multiplied by the risk factor (column 7), and the value of net incurred claims.
7. In row 20, indicate the MSM, which is the higher of the MSM based on premiums and the
   MSM based on claims.
   Annex No 6
   to the Regulation own funds, the valuation of assets and liabilities, assets eligible to cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking
   I. Report form
   IDNO code _____________________ ASIG0210
   Insurance category
   Life insurance Form code
   ASIG 2.10 REPORT ON THE MINIMUM SOLVENCY MARGIN As of______ 20__

56
Public
No Name Gross mathematical reserves
Net mathematical reserves
Rate
1 max
(0,85;
4/3)
Gross sum at risk
Net sum at risk
Rate
2 max
(0,5;
7/6)
Factor
1
Factor
2
MSM
1 2 3 4 5 6 7 8 9 10 11
1 Insurance not linked to investment funds:
1.1 Category -
Individual:
1.1.1 life
insurance x
1.1.2 annuities x
1.2 Category -
Collective:
1.2.1 life
insurance, including:
x
1.2.1.1 with
premiums guaranteed for up to one year;
1.2.1.2 with
premiums guaranteed for more than one year
1.2.2 annuities x
2 Insurance linked to investment funds:
2.1 Category -
Individual:
x
2.1.1 life
insurance, including:
x
2.1.1.1 guaranteed x
2.1.1.2 non￾guaranteed
x

57
Public
2.1.2 annuities,
including:
x
2.1.2.1 guaranteed x
2.1.2.2 non￾guaranteed
x
2.2 Category -
Collective:
2.2.1 life
insurance, including:
x
2.2.1.1 guaranteed x
2.2.1.2 non￾guaranteed
x
2.2.2 annuities,
including:
x
2.2.2.1 guaranteed x
2.2.2.2 non￾guaranteed
x
3 Additional insurance
(risks)
3.1 Individual,
specify x
3.2 Collective,
specify x
4 TOTAL x
II. Guidelines for completing the Report on the Minimum Solvency Margin

1. Rate 1 is 0.85 (85%) or the ratio of net mathematical reserves to gross mathematical reserves,
   whichever is higher.
2. Rate 2 is 0.5 (50%) or the ratio of the net sum at risk to the gross sum at risk, whichever is
   higher.
3. When calculating the total sum at risk, contracts for which the sum at risk is negative or non￾existent shall not be included in the calculation.
4. For supplementary insurance, in columns 3 and 4, the mathematical reserves and, where
   applicable, other technical provisions will be indicated.
5. Details regarding risk factor 1 and risk factor 2 are provided in the supplementary table for
   completing the report.
6. The MSM value is determined by applying the formula Col.(11) = {[Col.(4) × Col.(5) ×
   Col.(9)] + [Col.(7) × Col.(8) × Col.(10)]} ×1,25.

58
Public
Control of the ASIG 2.10 form - Report on the Minimum Solvency Margin Vertical control r.1=r.1.1+r.1.2 r.1.1=r.1.1.1+r.1.1.2 r.1.2=r.1.2.1+r.1.2.2 r.1.2.1=r.1.2.1.1+r.1.2.1.2 r.2=r.2.1+r.2.2 r.2.1=r.2.1.1+r.2.1.2 r.2.1.1=r.2.1.1.1+r.2.1.1.2 r.2.1.2= r.2.1.2.1+r.2.1.2.2 r.2.2= r.2.2.1+r.2.2.2 r.2.2.1=r.2.2.1.1+r.2.2.1.2 r.2.2.2= r.2.2.2.1+r.2.2.2.2 r.3=r.3.1+r.3.2 r.4=r.1+r.2+r.3 Supplementary table Details on factors Risk factor 1 Risk factor 2 Insurance not linked to investment funds:
Individual:
life insurance 4% 0,3% annuities 4% 0%
Collective:
life insurance:
with premiums guaranteed for up to one year 1% 0,2% with premiums guaranteed for more than one year 3% 0,3% annuities 4% 0% Insurance linked to investment funds:
Individual:
life insurance guaranteed 2% 0,2% non-guaranteed 1% 0,3% annuities guaranteed 2% 0% non-guaranteed 1% 0% Collective life insurance:
guaranteed 2% 0% non-guaranteed 1% 0% annuities

59
Public guaranteed 2% 0% non-guaranteed 1% 0% Additional insurance (risks) Individual and collective accidental death 2% 0% bodily injury from accident 2% 0% permanent incapacity to work 2% 0% temporary incapacity to work 4% 0% hospitalization or medical expenses insurance 4% 0% critical illness insurance 4% 0% unemployment insurance 2% 0% other 2% 0%
Annex No 7
to the Regulation own funds, the valuation of assets and liabilities, assets eligible to cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking
I. Report form
IDNO code ______________________ ASIG0211
Insurance category
______________________ Form code
ASIG 2.11 SOLVENCY REPORT
As of______ 20__
No Indicators Value Notes
1 2 3 4
I. Eligibility of own funds to cover the MCR

1. Tier 1 net basic own funds (row 8, column 3, Annex No 1)
   (FPB1), MDL
2. Share of Tier 1 net basic own funds in the MCR (r.1/r.14)
   *100, %
3. Value calculated as 80% of the MCR (0,8*r.14), MDL
4. Excess (+)/Deficit (-) of Tier 1 net basic own funds (r.1 –
   r.3), MDL
5. Tier 2 net basic own funds (r. 8, col. 4, Annex No 1)
   (FPB2), MDL

60
Public
6. Share of Tier 2 net basic own funds in the MCR (r.5 /r.14)
100, %
7. Value calculated as 20% of the MCR (0,2r.14), MDL
8. Excess (+)/Deficit (-) of Tier 2 net basic own funds (r.5 –
r.7), MDL
9. Tier 1 net basic own funds (r. 1.2, r. 2.2 and r. 5, col.3,
Annex No 1), MDL
10. Share of basic own funds from row 9 in the total Tier 1 net
basic own funds ((r.9/ r.1) *100), %
11. Value calculated as 20% of total Tier 1 net basic own funds
(20%*r. 1), MDL
12. Excess (+)/Deficit (-) of Tier 1 net basic own funds (r.9 -
r.11), MDL
II. Solvency
13. Eligible own funds (FPE), MDL
14. Minimum capital requirement (MCR), MDL
15. Minimum solvency margin (MSM), MDL
16. Solvency ratio (r.13/max (r.14; r.15) * 100), %
Executor and telephone number_____________
II. Guidelines for completing the Solvency Report

1. The amount of eligible own funds (FPE), set out in row 13, column 3 shall
   be calculated according to the formula provided in point 59 of the Regulation.
2. For the Minimum Capital Requirement (MCR) in row 14, indicate the value
   from Annex No 3, ASIG 2.7A report, column 4 for the non-life insurance category or from Annex No 4, ASIG 2.8A report, column 4 for the life insurance category.
3. For the Minimum Solvency Margin (MSM) in row 15, indicate the value
   from Annex No 5, row 20, column 8 or 9 for the non-life insurance category or from
   Annex No 6, row 4, column 11 for the life insurance category.
   Annex No 8
   to the Regulation own funds, the valuation of assets and liabilities, assets eligible to cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking
   I. Report form
   IDNO code ______________________ ASIG0212
   Insurance category
   Non-life insurance Form code

61
Public
ASIG 2.12 REPORT ON THE DISTRIBUTION OF ASSETS ELIGIBLE TO COVER TECHNICAL PROVISIONS As of______ 20__ Method used ___________ No Categories of assets eligible to cover technical provisions Balance sheet value, MDL Prudential (economic) value, MDL Eligible amount to cover technical provisions (Ai,R), MDL Maximum allowable share of eligible assets (normative) (gi,e,R and/or (Gi,R), % Preliminary value (ADPi,R), MDL Final value (ADFi,R), MDL Effective diversification share of eligible assets, % 1 2 3 4 5 6 7 8 9

1. State securities
   issued by the
   Government of the Republic of
   Moldova
2. State securities
   issued by the government of an
   EU Member
   State or an
   OECD Member
   State, by an international financial organization or by an entity for which one of the designated subjects acts as guarantor, provided that the states or international financial institutions have a rating of BBB+ or higher
3. Covered
   corporate bonds, liquid, traded on a regulated market, whose

62
Public value can be accurately determined, issued by a legal entity established in the Republic of Moldova, an EU Member State, or an OECD Member State
4. Shares traded on
a regulated market in the
Republic of
Moldova, an EU
Member State or an OECD
Member State
5. Insured
immovable property and other rights in rem (e.g. right of superficies, right of habitation, right of easement, etc.)
6. Deposits held in a
bank licensed by the National
Bank of Moldova whose registered office is located in the Republic of Moldova or in a bank rated at least BBB+ from an EU Member State or an OECD Member State
7. Cash on hand
8. Cash in current
accounts at banks licensed by the
National Bank of
Moldova

63
Public
9. Receivables
relating to the written premium, provided that they do not exceed 60 days after the due date laid down in the insurance contract
10. Receivables
related to insurance premiums subsidized by the state for insuring production risks in agriculture and fish farming, provided that they do not exceed 270 days from the date of entry into force of the insurance contract, admitted within a limit of 80% of the total technical provisions for the respective type of insurance
11. Shares held by
reinsurers or coinsurers in technical provisions, provided that the reinsurance or coinsurance undertaking holds at least a BBB+ rating or complies with the Solvency II regime of an EU Member State or an OECD

64
Public
Member State, with compulsory transfer of premiums related to reinsurance or coinsurance contracts
12. TOTAL
(r.1+r.2+...+r.11) x x
Executor and telephone number_____________
II. Guidelines for completing the Report on the Distribution of Assets Eligible to Cover
Technical Provisions

1. For 'Method used' indicate the method provided in point 73 of the Regulation (standard or internal).
2. In column 4, indicate the prudential values of assets eligible to cover technical provisions, evaluated
   according to Chapter II of the Regulation.
3. In column 5, indicate the values of assets eligible to cover technical provisions, evaluated in accordance
   with Chapter II of the Regulation and Articles 59 (1) and 60 (1) of Law No 92/2022.
4. In column 6, indicate the text from Annex No 16 to the Regulation, corresponding to the reporting
   period.
5. In column 7, indicate the values calculated according to subpoint 74.1.1 of the Regulation.
6. In column 8, indicate the values calculated according to subpoint 74.1.2 of the Regulation.
7. In the case of using the 'Internal Method', the values in column 7 may be equal to the values in column
   8, provided that there is no preliminary asset distribution value.
8. In column 9, indicate the values calculated as the ratio between the value in column 8 for each asset
   item and the net technical provisions, except for the asset item in row 11, for which the share held by reinsurers or coinsurers in the total technical provisions should be indicated.
   Annex No 9
   to the Regulation own funds, the valuation of assets and liabilities, assets eligible to cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking
   I. Report form
   IDNO code ______________________ ASIG0213
   Insurance category
   Life insurance Form code
   ASIG 2.13 REPORT ON THE DISTRIBUTION OF ASSETS ELIGIBLE TO COVER TECHNICAL PROVISIONS As of______ 20__

65
Public
Method used ___________
No Categories of assets eligible to cover technical provisions Balance sheet value, MDL Prudential (economic) value MDL Eligible amount to cover technical provisions ((Ai,R), MDL Maximum allowable share of eligible assets (normative) (gi,e,R and/or (Gi,R), % Preliminary value (ADPi,R), MDL Final value (ADFi,R), MDL Effective diversification share of eligible assets, % 1 2 3 4 5 6 7 8 9

1. State securities
   issued by the
   Government of the Republic of
   Moldova
2. State securities
   issued by the government of an
   EU Member
   State or an
   OECD Member
   State, by an international financial organization or by an entity for which one of the designated subjects acts as guarantor, provided that the states or international financial institutions have a rating of BBB+ or higher
3. Covered
   corporate bonds, liquid, traded on a regulated market, whose value can be accurately determined, issued by a legal

66
Public entity established in the Republic of Moldova, an EU Member State, or an OECD Member State
4. Shares traded on
a regulated market in the
Republic of
Moldova, an EU
Member State, or an OECD
Member State
5. Claims arising
out of interest

• bearing loans
  granted to policyholders up to the surrender value of their life insurance policies

6. Insured
   immovable property and other rights in rem (e.g. right of superficies, right of habitation, right of easement, etc.)
7. Deposits held in a
   bank licensed by the National
   Bank of
   Moldova, whose registered office is located in the Republic of Moldova, Cash in current accounts at banks licensed by the National Bank of Moldova or in a bank rated at least BBB+ from an EU Member State or

67
Public an OECD
Member State
8. Cash on hand
9. Cash in current
accounts in banks licensed by the
National Bank of
Moldova
10. Receivables
relating to the written premium, provided that they do not exceed 60 days after the due date laid down in the insurance contract
11. Shares held by
reinsurers or coinsurers in technical provisions, provided that the reinsurance or coinsurance undertaking holds at least a BBB+ rating or complies with the Solvency II regime of an EU Member State or an OECD Member State, with compulsory transfer of premiums related to reinsurance or coinsurance contracts
12. TOTAL
(r.1+r.2+...+r.11) x x
Executor and telephone number_____________
II. Guidelines for completing the Report on the Distribution of Assets Eligible to Cover
Technical Provisions

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1. For 'Method used' indicate the method provided in point 73 of the Regulation.
2. In column 4, indicate the prudential values of assets eligible to cover technical provisions, evaluated
   according to Chapter II of the Regulation.
3. In column 5, indicate the values of assets eligible to cover technical provisions, evaluated in accordance
   with Chapter II of the Regulation and Articles 59 (1) and 60 (1) of Law No 92/2022.
4. In column 6, indicate the text from Annex No 17 to the Regulation, corresponding to the reporting
   period.
5. In column 7, indicate the values calculated according to subpoint 74.1.1 of the Regulation.
6. In column 8, indicate the values calculated according to subpoint 74.1.2 of the Regulation.
7. In the case of using the 'Internal Method', the values in column 7 may be equal to the values in column
   8, provided that there is no preliminary asset distribution value.
8. In column 9, indicate the values calculated as the ratio between the value in column 8 for each asset
   item and the net technical provisions, except for the asset item in row 11, for which the reinsurers' or coinsurers' share in the total technical provisions should be indicated.
   Annex No 10
   to the Regulation own funds, the valuation of assets and liabilities, assets eligible to cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking
   I. Report form
   IDNO code ______________________ ASIG0214
   Insurance category
   Non-life insurance Form code
   ASIG 2.14 REPORT ON THE DISTRIBUTION OF ASSETS ELIGIBLE TO COVER THE MINIMUM CAPITAL REQUIREMENT As of______ 20__ Method used ___________ No Categories of assets eligible to cover the MCR Balance sheet value, MDL Prudential (economic) value MDL Eligible amount to cover the MCR (Ai,MCR), MDL Excess of eligible assets to cover the MCR (EAi,MCR) MDL Maximum allowable share of eligible assets (normative) (gi,e,R and/or (Gi,R), % Final value (ADFi,MCR), MDL Effective diversification share of eligible assets, %

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1
2
3
4
5
6
7
8
9

1. State securities
   issued by the
   Government of the Republic of
   Moldova
2. State securities
   issued by the government of an
   EU Member State or an OECD
   Member State, by an international financial organization or by an entity for which one of the designated subjects acts as guarantor, provided that the states or international financial institutions have a rating of BBB+ or higher
3. Eligible bonds of
   local public administration authorities in the Republic of Moldova and/or corporate bonds and/or those issued by local public authorities of an EU Member State or an OECD Member State
4. Corporate
   covered bonds x
   4.1. liquid, traded on a
   regulated market, whose value can be accurately determined, issued by a legal

70
Public entity established in the Republic of Moldova, an EU Member State, or an OECD Member State
4.2. not traded on a
regulated market
5. Shares traded on
a regulated market in the
Republic of
Moldova, an EU
Member State, or an OECD
Member State
6. Shares that are
not traded on a regulated market, when issued by a legal entity established in the Republic of Moldova
7. Shares of
investment companies and fund units circulating in the Republic of Moldova and other similar instruments practiced in other EU Member States or in other OECD Member States
8. Insured
immovable property and other rights in rem (e.g. right of superficies, right of habitation, right of easement, etc.)

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9. Deposits held in a
bank licensed by the National Bank of Moldova whose registered office is located in the Republic of Moldova or in a bank rated at least BBB+ from an EU Member State or an OECD Member State
10. Cash on hand
11. Cash in current
accounts in banks licensed by the
National Bank of
Moldova
12. Receivables
relating to the written premium, provided that they do not exceed 60 days after the due date laid down in the insurance contract
13. Receivables
relating to insurance premiums subsidized by the State for insuring production risks in agriculture and fish farming, provided that they do not exceed 270 days from the date of entry into force of the insurance contract
14. TOTAL
(r.1+r.2+...+r.13) x x
Executor and telephone number_____________

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II. Guidelines for completing the Report on the Distribution of Assets
Eligible to Cover the Minimum Capital Requirement

1. In column 4, indicate the prudential values of the assets eligible to cover the MCR evaluated
   according to Chapter II of the Regulation.
2. In column 5, indicate the values of the assets eligible to cover the MCR, evaluated in accordance
   with Chapter II of the Regulation and Articles 59 (1) and 60 (2) of Law No 92/2022.
3. In column 6, indicate the values calculated according to subpoint 74.2.1 of the Regulation.
4. In column 7, indicate the text from Annex No 18 of the Regulation corresponding to the reporting
   period.
5. In column 8, indicate the values calculated according to subpoint 74.2.2 of the Regulation.
6. In column 9, indicate the values calculated as the ratio between the value in column 8 for each asset
   item and the total MCR.
   Annex No 11
   to the Regulation own funds, the valuation of assets and liabilities, assets eligible to cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking
   I. Report form
   IDNO code ______________________ ASIG0215
   Insurance category
   Life Insurance Form code
   ASIG 2.15 REPORT ON THE DISTRIBUTION OF ASSETS ELIGIBLE TO COVER THE MINIMUM CAPITAL REQUIREMENT As of______ 20__ Method used ___________ No Categories of assets eligible to cover the MCR Balance sheet value, MDL Prudential (economic) value, MDL Eligible amount to cover the MCR ((Ai,MCR), MDL Excess of eligible assets to cover the MCR (EAi,MCR) MDL Maximum allowable share of eligible assets (normative) (gi,e,R and/or (Gi,R), % Final value (ADFi,MCR), MDL Effective diversification share of eligible assets, % 1 2 3 4 5 6 7 8 9
7. State securities
   issued by the

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Government of the Republic of
Moldova
2. State securities
issued by the government of an
EU Member
State or an
OECD Member
State, by an international financial organization or by an entity for which one of the designated subjects acts as guarantor, provided that the states or international financial institutions have a rating of BBB+ or higher
3. Eligible bonds of
local public administration authorities in the Republic of Moldova and/or corporate bonds and/or those issued by local public authorities of an EU Member State or an OECD Member State
4. Corporate
covered bonds x
4.1. liquid, traded on
a regulated market, whose value can be accurately determined, issued by a legal

74
Public entity established in the Republic of Moldova, an EU Member State, or an OECD Member State
4.2. not traded on a
regulated market
5. Shares traded on
a regulated market in the
Republic of
Moldova, an EU
Member State, or an OECD
Member State
6. Shares that are
not traded on a regulated market, when issued by a legal entity established in the Republic of Moldova
7. Shares of
investment companies and fund units circulating in the Republic of Moldova and other similar instruments practiced in other EU Member States or in other OECD Member States
8. Claims arising
out of interest

• bearing loans
  granted to policyholders, up to the surrender value of their life insurance policies

9. Insured
   immovable

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Public property and other rights in rem (e.g. right of superficies, right of habitation, right of easement, etc.)
10. Deposits held in a
bank licensed by the National
Bank of Moldova whose registered office is located in the Republic of Moldova or in a bank rated at least BBB+ from an EU Member State or an OECD Member State
11. Cash on hand
12. Cash in current
accounts in banks licensed by the
National Bank of
Moldova
13. Receivables
relating to the written premium, provided that they do not exceed 60 days after the due date laid down in the insurance contract
14. TOTAL
(r.1+r.2+...+r.13) x x
Executor and telephone number_____________
II. Guidelines for completing the Report on the Distribution of Assets Eligible to Cover the Minimum
Capital Requirement

1. In column 4, indicate the prudential values of the assets eligible to cover the MCR, evaluated
   according to Chapter II of the Regulation.

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2. In column 5, indicate the values of the assets eligible to cover the MCR, evaluated in accordance
with Chapter II of the Regulation and Article 59 paragraph (1), Article 60 paragraph (2) of Law No 92/2022
3. In column 6, indicate the values calculated according to subpoint 74.2.1 of the Regulation.
4. In column 7, indicate the text from Annex No 19 of the Regulation, corresponding to the reporting
period.
5. In column 8, indicate the values calculated according to subpoint 74.2.2 of the Regulation.
6. In column 9, indicate the values calculated as the ratio between the value in column 8 for each asset
item and the total MCR.
Annex No 12
to the Regulation own funds, the valuation of assets and liabilities, assets eligible to cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking
I. Report form
IDNO code ______________________ ASIG0216
Insurance category
______________________ Form code
ASIG 2.16 REPORT ON AGGREGATE VALUES REGARDING COMPLIANCE WITH THE REQUIREMENTS FOR ELIGIBLE ASSET COVERAGE OF TECHNICAL PROVISIONS AND THE MINIMUM CAPITAL REQUIREMENT As of______ 20__ Method used ___________ No Indicator name Value, MDL Notes 1 2 3 4
I. Compliance with the requirements for eligible asset coverage of
technical provisions

1. Assets eligible to cover technical provisions
2. Final eligible assets distributed to cover technical
   provisions
3. Technical provisions
4. Excess (+) / Deficit (-) of assets to cover technical
   provisions (r.2 – r.3)
   II. Compliance with the requirements for eligible asset coverage of the
   MCR
5. Assets eligible to cover the MCR
6. Excess of assets eligible to cover the MCR
7. Final eligible assets distributed to cover the MCR

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8. Minimum Capital Requirement (MCR)
9. Excess (+) / Deficit (-) of assets to cover the MCR (r.7
– r.8)
III. Reconciliation
10 On-balance sheet assets (at prudential value)
11. Total assets eligible to cover technical provisions and the
MCR
12. Final eligible assets distributed to cover the technical
provisions and the MCR (r.2 + r.7)
13. Excess of assets after covering technical provisions
and the MCR (r.11 – r.12)
14. Ineligible assets for covering technical provisions and
the MCR (r.10 – r.11)
Executor and telephone number_____________
II. Guidelines for completing the Report on Aggregate Values regarding
Compliance with the Requirements for Eligible Asset Coverage of Technical Provisions and the Minimum Capital Requirement

1. In row 1:
   a) for the 'Non-life insurance' category, indicate the value from column 5, row 12 of Annex No 8 to the Regulation; b) for the 'Life insurance' category, indicate the value from column 5, row 12 of Annex No 9 to the Regulation.
2. In row 2:
   a) for the 'Non-life insurance' category, indicate the value from column 8, row 12 of Annex No 8 to the Regulation; b) for the 'Life insurance' category, indicate the value from column 8, row 12 of Annex No 9 to the Regulation.
3. In row 3 the total value of technical provisions shall be indicated.
4. In row 5:
   a) for the 'Non-life insurance' category, indicate the value from column 5, row 14 of Annex No 10 to the Regulation; b) for the 'Life insurance' category, the value from column 5, row 14 of Annex 11 to the Regulation.
5. In row 6:
   a) for the 'Non-life insurance' category, indicate the value from column 6, row 14 of Annex No 10 to the Regulation; b) for the 'Life insurance' category, the value from column 6, row 14 of Annex No 11 to the Regulation.
6. In row 7:
   a) for the 'Non-life insurance' category, indicate the value from column 8, row 14 of Annex No 10 to the Regulation; b) for the 'Life insurance' category, indicate the value from column 8, row 14 of Annex 11 to the Regulation.

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7. In row 8, the value from column 3, row 14 of Annex No 7 to the Regulation
shall be entered.
8. In row 11:
a) For the 'Non-life insurance' category, indicate the sum of the values from column 5, row 12 of Annex 8 and column 5, row 14 of Annex No 10 to the Regulation, except for duplicate assets, in which case only the sum from one of the mentioned Annexes shall be considered. b) For the 'Life insurance' category, indicate the sum of the values from column 5, row 12 of Annex 9 and column 5, row 14 of Annex No 11 to the Regulation, except for duplicate assets, in which case only the sum from one of the mentioned annexes shall be considered.
9. In the 'Notes' column, relevant comments shall be provided regarding
specific items of assets and liabilities with a significant impact on the result.
Annex No 13
to the Regulation own funds, the valuation of assets and liabilities, assets eligible to cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking
I. Report form
IDNO code ______________________ ASIG0217
Insurance category
Non-life insurance Form code
ASIG 2.17 LIQUIDITY REPORT
As of______ 20__
No Categories of assets and liabilities Value, MDL Notes 1 2 3 4 Liquid assets

1. State securities issued by the Government of the Republic of
   Moldova
2. State securities issued by the government of an EU Member
   State or an OECD Member State, by an international financial organization or by an entity for which one of the designated subjects acts as guarantor, provided that the states or international financial institutions have a rating of BBB+ or higher
3. Deposits held in a bank licensed by the National Bank of
   Moldova whose registered office is located in the Republic

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Public of Moldova or in a bank rated at least BBB+ from an EU Member State or an OECD Member State
4. Cash on hand and current accounts in banks licensed by the
National Bank of Moldova
5. Liquid assets - total (r.1+r.2+r.3+r.4)
Liabilities
6. Liabilities arising from the RBNS (r.6.1 - r.6.2 – 6.3)
6.1. Reserves for reported but not settled claims (RBNS) for all
insurance classes
6.2. RBNS relating to pending court disputes
6.3. 50% of the quota held by reinsurers or coinsurers related to
RBNS
7. Liabilities overdue at the reporting date or becoming due
within 90 days after the reporting date, other than technical provisions
8. Liabilities – total (r.6+r.7)
9. Liquidity ratio (r.5/r.8)
Executor and telephone number_____________
II. Guidelines for completing the Liquidity Report

1. The liquidity report shall be completed in accordance with the provisions
   of Chapter II of the Regulation (prudential value).
2. In the 'Notes' column, relevant comments regarding specific items of assets
   and liabilities with a significant impact on the result of the liquidity ratio shall be indicated.
   Annex No 14
   to the Regulation own funds, the valuation of assets and liabilities, assets eligible to cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking
   I. Report form
   IDNO code ______________________ ASIG0218
   Insurance category
   Life insurance Form code
   ASIG 2.18 LIQUIDITY REPORT
   As of______ 20__

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No Categories of assets and liabilities Value, MDL Notes 1 2 3 4 Liquid assets

1. State securities issued by the Government of the Republic of
   Moldova
2. State securities issued by the government of an EU Member
   State or an OECD Member State, by an international financial organization or by an entity for which one of the designated subjects acts as guarantor, provided that the states or international financial institutions have a rating of BBB+ or higher
3. Deposits held in a bank licensed by the National Bank of
   Moldova whose registered office is located in the Republic of Moldova or in a bank rated at least BBB+ from an EU Member State or an OECD Member State
4. Cash on hand and current accounts in banks licensed by the
   National Bank of Moldova
5. Liquid assets - total (r.1+r.2+r.3+r.4)
   Liabilities
6. 0.5% of the total value of insured sums under death insurance
7. The maximum of 0.5% of the insured sums and 5% of the
   surrender values in the case of insurance covering the risk of death with a guaranteed surrender value
8. 10% of the total surrender value in the case of insurance that
   does not cover the risk of death for which a surrender value is guaranteed
9. Liabilities arising from the RBNS (r.9.1-r.9.2-9.3.)
   9.1. Reserves for reported but not settled claims (RBNS) for all
   insurance classes
   9.2. RBNS relating to pending court disputes
   9.3. 50% of the quota held by reinsurers or coinsurers related to
   RBNS
10. Liabilities overdue at the reporting date or becoming due
    within 90 days after the reporting date, other than technical provisions
11. Liabilities – total (r.6+r.7+r.8+r.9+r.10)
12. Liquidity ratio (r.5/r.11)
    Executor and telephone number_____________
    II. Guidelines for completing the Liquidity Report
13. The liquidity report shall be completed in accordance with the provisions
    of Chapter II of the Regulation (prudential value).

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2. In the 'Notes' column, relevant comments regarding specific items of assets
and liabilities with a significant impact on the result of the liquidity ratio shall be indicated.
Annex No 15
to the Regulation own funds, the valuation of assets and liabilities, assets eligible to cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking
I. Report form
IDNO code ______________________ ASIG0219
Insurance category
______________________ Form code
ASIG 2.19 REGISTER OF PENDING LITIGATION BEFORE THE COURTS IN WHICH THE INSURANCE OR REINSURANCE UNDERTAKING IS THE DEFENDANT As of______ 20__ No Case file numb er Date of receipt of the stateme nt of claim Responsi ble court Claim file numb er Date of registrati on of the claim file Name of the claima nt Clai ms (MD L) Procedu ral stage at the time of reportin g Insuran ce class Subje ct of the dispu te Amou nt of the declar ed but not settled claims reserv e (MDL ) 1 2 3 4 5 6 7 8 9 10 11 12 Tot al x 1 2 ... n Executor and telephone number_____________
II. Guidelines for completing the Register of Pending Litigation before the Courts in which the
Insurance or Reinsurance Undertaking is the Defendant

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1. In columns 3 and 6, enter the date in the format dd.mm.yyyy.
2. In column 7, enter the name and surname of the claimant.
3. In column 8 enter the amount in MDL to be recovered in court.
4. In column 10, indicate the number (code) of the insurance class as indicated in points A (codes
   A1-A3) and B (codes B1-B18) of the Annex to Law No 92/2022.
   Annex No 16
   to the Regulation own funds, the valuation of assets and liabilities, assets eligible to cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking Maximum allowable share of the eligible asset for covering technical provisions, established in accordance with the transitional provisions laid down in Article 123 (3) of Law No 92/2022 Insurance category Non-life insurance Calculation method % of net technical provisions, except for the category of assets from r.11 No Categories of assets eligible to cover technical provisions Application period
   01.01.2024 -
   31.12.2024
   01.01.2025 -
   31.12.2025
   01.01.2026 -
   31.12.2026
   Starting from
   Deviation of 01.01.2027
   +15% from the values in col.6
   Deviation of
   +10% from the values in col.6
   Deviation of
   +5% from the values in col.6
   1 2 3 4 5 6
5. State securities
   issued by the
   Government of the Republic of
   Moldova
   Any amount Any amount Any amount Any amount
6. State securities
   issued by the government of an
   EU Member State or an OECD
   Member State, by an international financial organization or by an entity for which one of the designated ≤ 17,25% - a single issuer ≤ 69% - total ≤ 16,5% - a single issuer ≤ 66% - total ≤ 15,75% - a single issuer ≤ 63% - total ≤ 15% - a single issuer ≤ 60% - total

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Public subjects acts as guarantor, provided that the states or international financial institutions have a rating of BBB+ or higher
3. Covered corporate
bonds, liquid, traded on a regulated market, whose value can be accurately determined, issued by a legal entity established in the Republic of Moldova, an EU Member State, or an OECD Member State ≤ 5,75% - a single issuer ≤ 46% - total ≤ 5,5% - a single issuer ≤ 44% - total ≤ 5,25% - a single issuer ≤ 42% - total ≤ 5% - a single issuer ≤ 40% - total
4. Shares traded on a
regulated market in the Republic of
Moldova, an EU
Member State, or an OECD
Member State
≤ 5,75% - a single issuer
≤ 23% - total
≤ 5,5% - a single issuer
≤ 22% - total
≤ 5,25% - a single issuer
≤ 21% - total
≤ 5% - a single issuer
≤ 20% - total
5. Insured
immovable property and other rights in rem (e.g. right of superficies, right of habitation, right of easement, etc.) ≤ 2,3% - one and the same immovable property ≤ 4,6% - total ≤ 2,2% - one and the same immovable property ≤ 4,4% - total ≤ 2,1% - one and the same immovable property ≤ 4,2% - total ≤ 2% - one and the same immovable property ≤ 4% - total
6. Deposits held in a
bank licensed by the National Bank of Moldova whose registered office is located in the Republic of Moldova or in a bank rated at least BBB+ from an ≤ 23% - a bank ≤ 11,5% - a bank where early intervention measures are applied by the NBM or by a similar ≤ 22% - a bank ≤ 11% - a bank where early intervention measures are applied by the NBM or by a similar ≤ 21% - a bank ≤ 10,5% - a bank where early intervention measures are applied by the NBM or by a similar ≤ 20% - a bank ≤ 10% - a bank where early intervention measures are applied by the NBM or by a similar

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EU Member State or an OECD
Member State supervisory authority
≤ 80,5% - total supervisory authority
≤ 77% - total supervisory authority
≤ 73,5% - total supervisory authority
≤ 70% - total
7. Cash on hand ≤ 1,15% -
total
≤ 1,1% - total
≤ 1,05% - total
≤ 1% - total
8. Cash in current
accounts in banks licensed by the
National Bank of
Moldova
≤ 11,5% - total
≤ 2,3% - total, in banks where early intervention measures are applied by the NBM or a similar supervisory authority ≤ 11% - total ≤ 2,2% - total, in banks where early intervention measures are applied by the NBM or a similar supervisory authority ≤ 10,5% - total ≤ 2,1% - total, in banks where early intervention measures are applied by the NBM or a similar supervisory authority ≤ 10% - total ≤ 2% - total, in banks where early intervention measures are applied by the NBM or a similar supervisory authority
9. Receivables
relating to the written premium, provided that they do not exceed 60 days after the due date laid down in the insurance contract ≤ 1,15% - a single debtor ≤ 5,75% - total ≤ 1,1% - a single debtor ≤ 5,5% - total ≤ 1,05% - a single debtor ≤ 5,25% - total ≤ 1% - a single debtor ≤ 5% - total
10. Receivables
related to insurance premiums subsidized by the state for insuring production risks in agriculture and fish farming, provided that they do not exceed 270 days from the date of entry into force of the insurance contract within a limit of 80% of the total technical provisions for the respective type of insurance within a limit of 80% of the total technical provisions for the respective type of insurance within a limit of 80% of the total technical provisions for the respective type of insurance within a limit of 80% of the total technical provisions for the respective type of insurance
11. Shares held by
reinsurers or coinsurers in technical provisions, provided that the Within the limit of the share in the technical provisions held by Within the limit of the share in the technical provisions held by Within the limit of the share in the technical provisions held by Within the limit of the share in the technical provisions held by

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Public reinsurance or coinsurance undertaking holds at least a BBB+ rating or complies with the Solvency II regime of an EU Member State or an OECD Member State, with compulsory transfer of premiums related to reinsurance or coinsurance contracts reinsurers or coinsurers reinsurers or coinsurers reinsurers or coinsurers reinsurers or coinsurers
Annex No 17
to the Regulation own funds, the valuation of assets and liabilities, assets eligible to cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking Maximum allowable share of the eligible asset for covering technical provisions, established in accordance with the transitional provisions laid down in Article 123 (3) of Law No 92/2022 Insurance category Life insurance Calculation method % of net technical provisions, except for the category of assets from r.11 No Categories of assets eligible to cover technical provisions Application period
01.01.2024 -
31.12.2024
01.01.2025 -
31.12.2025
01.01.2026 -
31.12.2026
Starting from
Deviation of 01.01.2027
+15% from the values in col.6
Deviation of
+10% from the values in col.6
Deviation of
+5% from the values in col.6
1 2 3 4 5 6

1. State securities
   issued by the
   Government of the Republic of
   Moldova
   Any amount Any amount Any amount Any amount

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2. State securities
issued by the government of an
EU Member State or an OECD
Member State, by an international financial organization or by an entity for which one of the designated subjects acts as guarantor, provided that the states or international financial institutions have a rating of BBB+ or higher ≤ 17,25% - a single issuer ≤ 69% - total ≤ 16,5% - a single issuer ≤ 66% - total ≤ 15,75% - a single issuer ≤ 63% - total ≤ 15% - a single issuer ≤ 60% - total
3. Covered corporate
bonds, liquid, traded on a regulated market, whose value can be accurately determined, issued by a legal entity established in the Republic of Moldova, an EU Member State, or an OECD Member State ≤ 5,75% - a single issuer ≤ 46% - total ≤ 5,5% - a single issuer ≤ 44% - total ≤ 5,25% - a single issuer ≤ 42% - total ≤ 5% - a single issuer ≤ 40% - total
4. Shares traded on a
regulated market in the Republic of
Moldova, an EU
Member State, or an OECD
Member State
≤ 5,75% - a single issuer
≤ 23% - total
≤ 5,5% - a single issuer
≤ 22% - total
≤ 5,25% - a single issuer
≤ 21% - total
≤ 5% - a single issuer
≤ 20% - total
5. Claims arising out
of interest-bearing loans granted to policyholders up to the surrender ≤ 1,15% - total ≤ 1,1% - total ≤ 1,05% - total ≤ 1% - total

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Public value of their life insurance policies
6. Insured
immovable property and other rights in rem (e.g. right of superficies, right of habitation, right of easement, etc.) ≤ 11,5% - one and the same immovable property ≤ 28,75% - total ≤ 11% - one and the same immovable property ≤ 27,5% - total ≤ 10,5% - one and the same immovable property ≤ 26,25% - total ≤ 10% - one and the same immovable property ≤ 25% - total
7. Deposits held in a
bank licensed by the National Bank of Moldova whose registered office is located in the Republic of Moldova or in a bank rated at least BBB+ from an EU Member State or an OECD Member State ≤ 23% - a bank ≤ 11,5% - a bank where early intervention measures are applied by the NBM or by a similar supervisory authority ≤ 80,5% - total ≤ 22% - a bank ≤ 11% - a bank where early intervention measures are applied by the NBM or by a similar supervisory authority ≤ 77% - total ≤ 21% - a bank ≤ 10,5% - a bank where early intervention measures are applied by the NBM or by a similar supervisory authority ≤ 73,5% - total ≤ 20% - a bank ≤ 10% - a bank where early intervention measures are applied by the NBM or by a similar supervisory authority ≤ 70% - total
8. Cash on hand ≤ 1,15% -
total
≤ 1,1% - total ≤ 1,05% - total
≤ 1% - total
9. Cash in current
accounts in banks licensed by the
National Bank of
Moldova
≤ 11,5% - total
≤ 2,3% - total, in banks where early intervention measures are applied by the NBM or a similar supervisory authority ≤ 11% - total ≤ 2,2% - total, in banks where early intervention measures are applied by the NBM or a similar supervisory authority ≤ 10,5% - total ≤ 2,1% - total, in banks where early intervention measures are applied by the NBM or a similar supervisory authority ≤ 10% - total ≤ 2% - total, in banks where early intervention measures are applied by the NBM or a similar supervisory authority
10. Receivables
relating to the written premium, provided that they do not exceed 60 days after the due date laid down in the insurance contract ≤ 1,15% - a single debtor ≤ 5,75% - total ≤ 1,1% - a single debtor ≤ 5,5% - total ≤ 1,05% - a single debtor ≤ 5,25% - total ≤ 1% - a single debtor ≤ 5% - total

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11. Shares held by
reinsurers or coinsurers in technical provisions, provided that the reinsurance or coinsurance undertaking holds at least a BBB+ rating or complies with the Solvency II regime of an EU Member State or an OECD Member State, with compulsory transfer of premiums related to reinsurance or coinsurance contracts Within the limit of the share in the technical provisions held by reinsurers or coinsurers Within the limit of the share in the technical provisions held by reinsurers or coinsurers Within the limit of the share in the technical provisions held by reinsurers or coinsurers Within the limit of the share in the technical provisions held by reinsurers or coinsurers
Annex No 18
to the Regulation own funds, the valuation of assets and liabilities, assets eligible to cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking Maximum allowable share of the eligible asset for covering the Minimum Capital Requirement, established in accordance with the transitional provisions laid down in Article 123 (3) of Law No 92/2022 Insurance category Non-life insurance Calculation method % of Minimum Capital Requirement (MCR) No Categories of assets eligible to cover the Minimum Capital Requirement (MCR) Application period
01.01.2024 -
31.12.2024
01.01.2025 -
31.12.2025
01.01.2026 -
31.12.2026
Starting from
Deviation of 01.01.2027
+15% from the values in col.6
Deviation of
+10% from the values in col.6
Deviation of
+5% from the values in col.6
1 2 3 4 5 6

89
Public

1. State securities
   issued by the
   Government of the
   Republic of
   Moldova
   Any amount Any amount Any amount Any amount
2. State securities
   issued by the government of an
   EU Member State or an OECD
   Member State, by an international financial organization or by an entity for which one of the designated subjects acts as guarantor, provided that the states or international financial institutions have a rating of BBB+ or higher ≤ 17,25% - a single issuer ≤ 69% - total ≤ 16,5% - a single issuer ≤ 66% - total ≤ 15,75% - a single issuer ≤ 63% - total ≤ 15% - a single issuer ≤ 60% - total
3. Eligible bonds of
   local public administration authorities in the Republic of Moldova and/or corporate bonds and/or those issued by local public authorities of an EU Member State or an OECD Member State ≤ 5,75% - a single issuer ≤ 46% - total ≤ 5,5% - a single issuer ≤ 44% - total ≤ 5,25% - a single issuer ≤ 42% - total ≤ 5% - a single issuer ≤ 40% - total
4. Corporate covered
   bonds x
   4.1. liquid, traded on a
   regulated market, whose value can be accurately determined, issued by a legal entity established in the ≤ 5,75% - a single issuer ≤ 46% - total ≤ 5,5% - a single issuer ≤ 44% - total ≤ 5,25% - a single issuer ≤ 42% - total ≤ 5% - a single issuer ≤ 40% - total

90
Public
Republic of
Moldova, an EU
Member State, or an OECD Member
State
4.2. not traded on a
regulated market
≤ 1,15% - a single issuer
≤ 2,3% - total
≤ 1,1% - a single issuer
≤ 2,2% - total
≤ 1,05% - a single issuer
≤ 2,1% - total
≤ 1% - a single issuer
≤ 2% - total
5. Shares traded on a
regulated market in the Republic of
Moldova, an EU
Member State, or an OECD Member
State
≤ 2,3% - a single issuer
≤ 5,75% - total
≤ 2,2% - a single issuer
≤ 5,5% - total
≤ 2,1% - a single issuer
≤ 5,25% - total
≤ 2% - a single issuer
≤ 5% - total
6. Shares that are not
traded on a regulated market, when issued by a legal entity established in the Republic of Moldova ≤ 2,3% - a single issuer ≤ 5,75% - total ≤ 2,2% - a single issuer ≤ 5,5% - total ≤ 2,1% - a single issuer ≤ 5,25% - total ≤ 2% - a single issuer ≤ 5% - total
7. Shares of
investment companies and fund units circulating in the Republic of Moldova and other similar instruments practiced in other EU Member States or in other OECD Member States ≤ 5,75% - total ≤ 5,5% - total ≤ 5,25% - total ≤ 5% - total
8. Insured
immovable property and other rights in rem (e.g. right of superficies, right of habitation, right of easement, etc.) ≤ 3,45% - one and the same immovable property ≤ 11,5% - total ≤ 3,30% - one and the same immovable property ≤ 11% - total ≤ 3,15% - one and the same immovable property ≤ 10,5% - total ≤ 3% - one and the same immovable property ≤ 10% - total
9. Deposits held in a
bank licensed by the National Bank of Moldova whose ≤ 23% - a bank ≤ 11,5% - a bank where ≤ 22% - a bank ≤ 11% a bank where ≤ 21% - a bank ≤ 10,5% - a bank where ≤ 20% - a bank ≤ 10% - a bank where

91
Public registered office is located in the
Republic of
Moldova or in a bank rated at least
BBB+ from an EU
Member State or an OECD Member
State early intervention measures are applied by the NBM or by a similar supervisory authority ≤ 80,5% - total early intervention measures are applied by the NBM or by a similar supervisory authority ≤ 77% - total early intervention measures are applied by the NBM or by a similar supervisory authority ≤ 73,5% - total early intervention measures are applied by the NBM or by a similar supervisory authority ≤ 70% - total
10. Cash on hand ≤ 1,15% -
total
≤ 1,1% - total
≤ 1,05% - total
≤ 1% - total
11. Cash in current
accounts in banks licensed by the
National Bank of
Moldova
≤ 11,5% - total
≤ 2,3% - total, in banks where early intervention measures are applied by the NBM or a similar supervisory authority ≤ 11% - total ≤ 2,2% - total, in banks where early intervention measures are applied by the NBM or a similar supervisory authority ≤ 10,5% - total ≤ 2,1% - total, in banks where early intervention measures are applied by the NBM or a similar supervisory authority ≤ 10% - total ≤ 2% - total, in banks where early intervention measures are applied by the NBM or a similar supervisory authority
12. Receivables
relating to the written premium, provided that they do not exceed 60 days after the due date laid down in the insurance contract ≤ 1,15% - a single debtor ≤ 11,5% - total ≤ 1,1% - a single debtor ≤ 11% - total ≤ 1,05% - a single debtor ≤ 10,5% - total ≤ 1% - a single debtor ≤ 10% - total
13. Receivables
relating to insurance premiums subsidized by the State for insuring production risks in agriculture and fish farming, provided that they do not exceed 270 days from the date of entry into force Any amount Any amount Any amount Any amount

92
Public of the insurance contract
Annex No 19
to the Regulation own funds, the valuation of assets and liabilities, assets eligible to cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking Maximum allowable share of the eligible asset for covering the Minimum Capital Requirement, established in accordance with the transitional provisions laid down in Article 123 (3) of Law No 92/2022 Insurance category Life insurance Calculation method % of Minimum Capital Requirement (MCR) No Categories of assets eligible to cover the Minimum Capital Requirement (MCR) Application period
01.01.2024 -
31.12.2024
01.01.2025 -
31.12.2025
01.01.2026 -
31.12.2026
Starting from
Deviation of 01.01.2027
+15% from the values in col.6
Deviation of
+10% from the values in col.6
Deviation of
+5% from the values in col.6
1 2 3 4 5 6

1. State securities
   issued by the
   Government of the
   Republic of
   Moldova
   Any amount Any amount Any amount Any amount
2. State securities
   issued by the government of an
   EU Member State or an OECD
   Member State, by an international financial organization or by an entity for which one of the designated subjects acts as guarantor, provided that the states or ≤ 17,25% - a single issuer ≤ 69% - total ≤ 16,5% - a single issuer ≤ 66% - total ≤ 15,75% - a single issuer ≤ 63% - total ≤ 15% - a single issuer ≤ 60% - total

93
Public international financial institutions have a rating of BBB+ or higher
3. Eligible bonds of
local public administration authorities in the Republic of Moldova and/or corporate bonds and/or those issued by local public authorities of an EU Member State or an OECD Member State ≤ 5,75% - a single issuer ≤ 46% - total ≤ 5,5% - a single issuer ≤ 44% - total ≤ 5,25% - a single issuer ≤ 42% - total ≤ 5% - a single issuer ≤ 40% - total
4. Corporate covered
bonds x
4.1. liquid, traded on a
regulated market, whose value can be accurately determined, issued by a legal entity established in the Republic of Moldova, an EU Member State, or an OECD Member State ≤ 5,75% - a single issuer ≤ 46% - total ≤ 5,5% - a single issuer ≤ 44% - total ≤ 5,25% - a single issuer ≤ 42% - total ≤ 5% - a single issuer ≤ 40% - total
4.2. not traded on a
regulated market
≤ 1,15% - a single issuer
≤ 2,3% - total
≤ 1,1% - a single issuer
≤ 2,2% - total
≤ 1,05% - a single issuer
≤ 2,1% - total
≤ 1% - a single issuer
≤ 2% - total
5. Shares traded on a
regulated market in the Republic of
Moldova, an EU
Member State, or an OECD Member
State
≤ 2,3% - a single issuer
≤ 5,75% - total
≤ 2,2% - a single issuer
≤ 5,5% - total
≤ 2,1% - a single issuer
≤ 5,25% - total
≤ 2% - a single issuer
≤ 5% - total
6. Shares that are not
traded on a regulated market, when issued by a legal entity ≤ 2,3% - a single issuer ≤ 5,75% - total ≤ 2,2% - a single issuer ≤ 5,5% - total ≤ 2,1% - a single issuer ≤ 5,25% - total ≤ 2% - a single issuer ≤ 5% - total

94
Public established in the
Republic of
Moldova
7. Shares of
investment companies and fund units circulating in the Republic of Moldova and other similar instruments practiced in other EU Member States or in other OECD Member States ≤ 5,75% - total ≤ 5,5% - total ≤ 5,25% - total ≤ 5% - total
8. Claims arising out
of interest-bearing loans granted to policyholders up to the surrender value of their life insurance policies ≤ 1,15% - total ≤ 1,1% - total ≤ 1,05% - total ≤ 1% - total
9. Insured
immovable property and other rights in rem (e.g. right of superficies, right of habitation, right of easement, etc.) ≤ 3,45% - one and the same immovable property ≤ 11,5% - total ≤ 3,30% - one and the same immovable property ≤ 11% - total ≤ 3,15% - one and the same immovable property ≤ 10,5% - total ≤ 3% - one and the same immovable property ≤ 10% - total
10. Deposits held in a
bank licensed by the National Bank of Moldova whose registered office is located in the Republic of Moldova or in a bank rated at least BBB+ from an EU Member State or an OECD Member State ≤ 23% - a bank ≤ 11,5% - a bank where early intervention measures are applied by the NBM or by a similar supervisory authority ≤ 80,5% - total ≤ 22% - a bank ≤ 11% - a bank where early intervention measures are applied by the NBM or by a similar supervisory authority ≤ 77% - total ≤ 21% - a bank ≤ 10,5% - a bank where early intervention measures are applied by the NBM or by a similar supervisory authority ≤ 73,5% - total ≤ 20% - a bank ≤ 10% - a bank where early intervention measures are applied by the NBM or by a similar supervisory authority ≤ 70% - total
11. Cash on hand ≤ 1,15% -
total
≤ 1,1% - total
≤ 1,05% - total
≤ 1% - total
12. Cash in current
accounts in banks
≤ 11,5% - total
≤ 11% - total
≤ 2,2% -
≤ 10,5% - total
≤ 10% - total
≤ 2% - total,

95
Public licensed by the
National Bank of
Moldova
≤ 2,3% - total, in banks where early intervention measures are applied by the NBM or a similar supervisory authority total, in banks where early intervention measures are applied by the NBM or a similar supervisory authority ≤ 2,1% - total, in banks where early intervention measures are applied by the NBM or a similar supervisory authority in banks where early intervention measures are applied by the NBM or a similar supervisory authority
13. Receivables
relating to the written premium, provided that they do not exceed 60 days after the due date laid down in the insurance contract ≤ 1,15% - a single debtor ≤ 11,5% - total ≤ 1,1% - a single debtor ≤ 11% - total ≤ 1,05% - a single debtor ≤ 10,5% - total ≤ 1% - a single debtor ≤ 10% - total
Annex No 20
to the Regulation own funds, the valuation of assets and liabilities, assets eligible to cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking
I. Report form
IDNO code ______________________ ASIG0220A
Insurance category
Non-life insurance Form code
ASIG 2.20A Special register of assets eligible to cover technical provisions and the Minimum Capital Requirement As of______ 20__ Cha pter No N o Name of assets Name of the institu tion where the securit ies, bank Registr ation numbe r, settlem ent accoun t no., deposit Curr ency code Offici al excha nge rate at the repor ting date Bala nce sheet value at the repor ting date, MDL Prude ntial (econo mic) value at the report ing Final eligibl e amou nt to cover techni cal provis Fina l eligi ble amo unt to cove r Informa tion on encumb rance/ seizure/ pledging / assumpt ion of Value of the encumbe red/ seized/ pledged asset/ other encumbr

96
Public deposi ts or cash holdin gs are held where applic able / locatio n of the immo vable prope rty accoun t no., deposit accoun t no., deposit contrac t no., cadastr al no. (if applica ble) date, MDL ions, MDL the MC R, MD L other charges, the code ances, MDL 1 2 3 4 5 6 7 8 9 10 11 12 13

1. State
   securities issued by the
   Governme nt of the
   Republic of
   Moldova, total x
   1
   2
   ... n
2. State
   securities issued by the governmen t of an EU Member State or an OECD Member State, by an internation al financial organizatio n or an entity for which one x

97
Public of the designated subjects acts as guarantor, provided that the states or internation al financial institutions have a rating of BBB+ or higher, total 12 ... n
3. Eligible
bonds of local public authorities in the
Republic of
Moldova and/or corporate bonds and/or those issued by local public authorities of an EU Member State or an OECD Member State, total x 12 ... n
4. Corporate
covered x

98
Public bonds, total:
4.1. liquid,
traded on a regulated market, whose value can be accurately determined , issued by a legal entity established in the Republic of Moldova, an EU Member State or an OECD Member State, total x 12 ... n
4.2. which are
not traded on a regulated market, total x
12
... n
5. Shares
traded on a regulated market in the
Republic of
Moldova, an EU
Member x

99
Public
State or an
OECD
Member
State, total
12
... n
6. Shares that
are not traded on a regulated market, when issued by a legal person established in the Republic of Moldova, total x 12 ... n
7. Shares of
investment companies and fund units circulating in the Republic of Moldova and other similar instruments practiced in other EU Member States or in other OECD Member States, total x 1

100
Public
2
... n
8. Insured
immovable property and other rights in rem (e.g. right of superficies, right of habitation, right of easement, etc.) x 12 ... n
9. Deposits
held in a bank licensed by the
National
Bank of
Moldova whose registered office is located in the Republic of Moldova or in a bank rated at least BBB+ from an EU Member State or an OECD Member State x 12

101
Public
... n
10. Cash on
hand
11. Cash in
current accounts with banks licensed by the
National
Bank of
Moldova, total x
12
... n
12. Receivable
s relating to the written premium, provided that they do not exceed 60 days after the due date laid down in the insurance contract, total x
13. Receivable
s relating to insurance premiums subsidized by the State for insuring production risks in agriculture x

102
Public and fish farming, provided that they do not exceed 270 days from the date of entry into force of the insurance contract, total
14. Shares held
by reinsurers or coinsurers in technical provisions, provided that the reinsurance or coinsuranc e undertakin g holds at least a BBB+ rating or complies with the Solvency II regime of an EU Member State or an OECD Member State, with compulsor y transfer of premiums related to reinsurance or coinsuranc x

103
Public e contracts, total
15. TOTAL
ACTIVE x
Executor and telephone number_____________
II. Guidelines for completing the Special Register of assets eligible to cover technical provisions
and the Minimum Capital Requirement

1. In column 4, indicate the name of the institution where the securities, bank deposits, or cash
   holdings are held, where applicable, as well as the location of the immovable property, which is reflected separately as immovable property.
2. In column 5, indicate the number attributed to each asset type: the registration number attributed
   to the securities, the deposit contract number, the deposit account number, or the cadastral number for immovable property.
3. In columns 6 and 7, in cases where the asset is denominated in foreign currency, fill in the
   respective columns with the alphabetic code of the currency and its official exchange rate at the reporting date.
4. In column 8, enter the balance sheet value at the reporting date, including, if the admitted assets
   are in foreign currency, their conversion into MDL according to the official exchange rate at the reporting date.
5. In column 9, indicate the values of the assets eligible to cover technical provisions, evaluated
   according to Chapter II of the Regulation.
6. In column 10, enter the final value of the assets eligible to cover technical provisions as shown
   in column 8 of Annex No 8 to the Regulation.
7. In column 11, enter the final value of the assets eligible to cover the Minimum Capital
   Requirement (MCR) as shown in column 8 of Annex No 10 to the Regulation.
8. In column 12, indicate information about encumbrance/seizure/pledging/assumption of other
   charges, using the following codes: 1 - encumbered; 2 - seized; 3 - pledged; 4 - assumption of other charges.
9. In column 13, indicate the value of the encumbered/seized/pledged/charged asset according to
   the information in column 12.
10. Receivables related to gross written premiums shall be reflected in a separate table at the balance
    sheet value before impairment, regardless of whether they are eligible to cover technical provisions and the Minimum Capital Requirement, for each debtor or intermediary individually, based on the due date as per the insurance contract. IDNO code ______________________ ASIG0220B Insurance category Non-life insurance Form code ASIG 2.20B Receivables related to written premiums As of _____________ No Name, surname / name of Insura nce contra Date of insura Due date of the Balance sheet value of Balan ce sheet Balance sheet value of including Final eligible amoun Fina l eligi <3 0 31 - 61 - 91 - 12 1- 18 1- 27 1- >3 65

104
Public debtor
(insured or intermed iary) ct numb er nce contra ct receiv able under the insura nce contra ct the receiva ble at the reporti ng date, before impair ment, MDL value of the receiv able whose payme nt due date has not yet occurr ed at the report ing date, MDL the receiva ble whose paymen t due date has expired at the reporti ng date, before impair ment, MDL da ys 60 da ys 90 da ys 12 0 da ys 18 0 da ys 27 0 da ys 36 5 da ys da ys t to cover technic al provisi ons, MDL ble amo unt to cove r the MC R, MD L 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Receivables related to written premiums Tot al x 1. 2. ... n Receivables related to insurance premiums subsidized by the state according to concluded contracts Tot al x 1. 2. ... n Executor and telephone number_____________
Annex No 21
to the Regulation own funds, the valuation of assets and liabilities, assets eligible to cover technical provisions and the minimum capital requirement, solvency and liquidity of the insurance or reinsurance undertaking
I. Report form
IDNO code ______________________ ASIG0221A

105
Public
Insurance category
Life insurance Form code
ASIG 2.21A Special register of assets eligible to cover technical provisions and the Minimum Capital Requirement As of______ 20__ Chap ter No N o Name of assets Name of the institut ion where the securiti es, bank deposit s or cash holding s are held where applica ble / locatio n of the immov able propert y Registra tion number, settleme nt account no., deposit account no., deposit account no., deposit contract no., cadastra l no. (if applicab le) Curre ncy code Offici al excha nge rate at the report ing date Balan ce sheet value at the report ing date, MDL Pruden tial (econo mic) value at the reporti ng date, MDL Final eligible amoun t to cover technic al provisi ons, MDL Final eligi ble amo unt to cove r the MC R, MD L Informati on on encumbr ance/ seizure/ pledging/ assumpti on of other charges, the code Value of the encumber ed/ seized/ pledged asset/ other encumbra nces, MDL 1 2 3 4 5 6 7 8 9 10 11 12 13

1. State
   securities issued by the
   Government of the
   Republic of
   Moldova, total x
   1
   2
   ..
   . n
2. State
   securities issued by the government of an EU x

106
Public
Member
State or an
OECD
Member
State, by an international financial organization or an entity for which one of the designated subjects acts as guarantor, provided that the states or international financial institutions have a rating of BBB+ or higher, total 12 ...n
3. Eligible
bonds of local public authorities in the Republic of Moldova and/or corporate bonds and/or those issued by local public authorities of an EU Member State or an OECD Member State, total x 1

107
Public
2
...n
4. Corporate
covered bonds, total:
x
4.1. liquid, traded
on a regulated market, whose value can be accurately determined, issued by a legal entity established in the Republic of Moldova, an EU Member State or an OECD Member State, total x 12 ...n
4.2. which are
not traded on a regulated market, total x
12
...n
5. Shares
traded on a regulated market in the
Republic of
Moldova, an x

108
Public
EU Member
State or an
OECD
Member
State, total
12
...n
6. Shares that
are not traded on a regulated market, when issued by a legal person established in the Republic of Moldova, total x 12 ...n
7. Shares of
investment companies and fund units circulating in the Republic of Moldova and other similar instruments practiced in other EU Member States or in other OECD Member States, total x 1

109
Public
2
...n
8. Claims
arising out of interest

• bearing
  loans granted to policyholder s up to the surrender value of their life insurance policies, total x 12 ...n

9. Insured
   immovable property and other rights in rem (e.g. right of superficies, right of habitation, right of easement, etc.), total x 12 ...n
10. Deposits
    held in a bank licensed by the National
    Bank of x

110
Public
Moldova, whose registered office is located in the Republic of Moldova, or in a bank rated at least BBB+ in an EU Member State or an OECD Member State, total 12 ...n
11. Cash on
hand, total x
12. Cash on
current accounts with banks licensed by the National Bank of Moldova, total x 12 ...n
13. Receivables
relating to the written premium, provided that they do not exceed 60 days after the due date laid down in the insurance x

111
Public contract, total
14. Shares held
by reinsurers or coinsurers in technical provisions, provided that the reinsurance or coinsurance undertaking holds at least a BBB+ rating or complies with the Solvency II regime of an EU Member State or an OECD Member State, with compulsory transfer of premiums related to reinsurance or coinsurance contracts, total x
15. TOTAL
ACTIVE x
II. Guidelines for completing the Special Register of assets eligible to cover technical provisions
and the Minimum Capital Requirement

1. In column 4, indicate the name of the institution where the securities, bank deposits, or cash
   holdings are held, where applicable, as well as the location of the immovable property, which is reflected separately as immovable property.
2. In column 5, indicate the number attributed to each asset type: the registration number attributed
   to the securities, the deposit contract number, the deposit account number, or the cadastral number for immovable property.

112
Public
3. In columns 6 and 7, in cases where the asset is denominated in foreign currency, fill in the
respective columns with the alphabetic code of the currency and its official exchange rate at the reporting date.
4. In column 8, enter the balance sheet value at the reporting date, including, if the admitted assets
are in foreign currency, their conversion into MDL according to the official exchange rate at the reporting date.
5. In column 9, indicate the values of the assets eligible to cover technical provisions, evaluated
according to Chapter II of the Regulation.
6. In column 10, enter the final value of the assets eligible to cover technical provisions as shown
in column 8 of Annex 9 to the Regulation.
7. In column 11, enter the final value of the assets eligible to cover the Minimum Capital
Requirement (MCR) as shown in column 8 of Annex No 11 to the Regulation.
8. In column 12, indicate information about encumbrance/seizure/pledging/assumption of other
charges, using the following codes: 1 - encumbered; 2 - seized; 3 - pledged; 4 - assumption of other charges.
9. In column 13, indicate the value of the encumbered/seized/pledged/charged asset according to
the information in column 12.
10. Receivables related to gross written premiums shall be reflected in a separate table at the balance
sheet value before impairment, regardless of whether they are eligible to cover technical provisions and the Minimum Capital Requirement, for each debtor or intermediary individually, based on the due date as per the insurance contract. IDNO code ______________________ ASIG0221B Insurance category Life insurance Form code ASIG 2.21B Receivables related to written premiums As of _____________ No Name, surname / name of debtor (insured or intermed iary) Insura nce contra ct numb er Date of insura nce contra ct Due date of the receiv able under the insura nce contra ct Balance sheet value of the receiva ble at the reporti ng date, before impair ment, MDL Balan ce sheet value of the receiv able whose payme nt due date has not yet occurr ed at the report ing date, MDL Balance sheet value of the receiva ble whose paymen t due date has expired at the reporti ng date, before impair ment, MDL including Final eligible amoun t to cover technic al provisi ons, MDL Fina l eligi ble amo unt to cove r the MC R, MD L <3 0 da ys 31 - 60 da ys 61 - 90 da ys 91 - 12 0 da ys 12 1- 18 0 da ys 18 1- 27 0 da ys 27 1- 36 5 da ys >3 65 da ys 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18

113
Public
Tot al x
1
2
... n
Executor and telephone number_____________