Lima, 13 December 2012

S.B.S. Resolution No. 9305 -2012

The Superintendent of Banking, Insurance and
Private Pension Fund Administrators (a.i.)

WHEREAS:

That numeral 13 of article 349° of the General Law of the Financial System and the Insurance System and Organic Law of the Superintendency of Banking and Insurance, Law No. 26702 and its amendments, hereinafter General Law, states that the Superintendency has the power to issue general rules to specify the preparation, presentation and publicity of financial statements, and any other complementary information, ensuring that the real economic-financial situation of the companies under its supervision is reflected;

That, by SBS Resolution No. 7037-2012, the Chart of Accounts for Insurance System Companies approved by SBS Resolution No. 348-95 was amended in order to harmonize the accounting rules issued by this Superintendency applicable to insurance companies with the International Financial Reporting Standards (IFRS).

That, in order to guarantee an effective implementation of the measures adopted in the aforementioned Resolution, insurance companies require the adaptation of their information systems;

With the approval of the Deputy Superintendencies of Private Pension Fund Administrators and Insurance, of Risks, of Economic Studies and of Legal Advice; and,

In use of the powers conferred by numerals 7 and 13 of article 349º of the General Law and by SBS Resolution No. 8911-2012, and on the basis of the exception conditions set forth in numeral 3.2 of article 14º of Supreme Decree No. 001-2009-JUS;

RESOLVES:

Article One.- To amend Article Five of SBS Resolution No. 7037-2012, with the text indicated below:

“Article Five.- This resolution shall enter into force as from the information corresponding to the month of January 2013, except for the provisions of the First Final and Transitory Provision indicated in article four, which shall enter into force as from the day following its publication in the Official Gazette El Peruano. Likewise, as from the entry into force of this rule, the following is repealed:

a) Articles 16° and 17° of the Regulation for the Payment of Insurance Premiums approved by SBS Resolution No. 225-2006, as well as annex No. 2 “Provisions for premiums receivable”.

b) Circular S-570-97 “Provisions for doubtful collection accounts”.”

Article Two.- This resolution shall enter into force as from the day following its publication in the Official Gazette El Peruano.

Register, communicate and publish,

JAVIER POGGI CAMPODÓNICO
Superintendent of Banking, Insurance and
Private Pension Fund Administrators (a.i.)