Appointment of a certified actuary

An insurance company that has acquired a licence to carry out insurance transactions must appoint a certified actuary.

A person who is a member of the Management Board or a procurator at an insurance company, or who is directly or indirectly involved in the insurance company with over 0.1 per cent share of the voting rights or of the capital cannot be appointed a certified actuary.

An insurance company must notify the Insurance Supervision Agency of the appointment of a certified actuary.

If an insurance company does not appoint a certified actuary within three months or it appoints a person who does not meet the conditions for he appointment to carry out the tasks of a certified actuary, a certified actuary is appointed by the Insurance Supervision Agency.

Legal basis/grounds

Last updated: 14. 08. 2015