Statistical Reporting and Reserve Calculation for Russian Insurance (New) Locate this document in the navigation structure

Technical Data

Product Version

SAP NetWeaver 7.0 BI Content Add-On 5

Area

Insurance

Country Relevance

Only valid for:

Russia

 

As of SAP NetWeaver 7.0 BI Content Add-On 5, you can prepare forms in the required legal format, and calculate stabilization reserve and reserve for incurred, but not reported losses (IBNR) as required by the authorities in the Russian Federation. To generate the forms and calculate the reserves, you use BI Content.

The following forms are supported:

  • Form 1-S

    Contains the activities that insurance companies perform during the course of a year, divided according to detached subdivisions. The form contains the sum of insurance premiums based on contracts with policyholders and details about any coinsurance and reinsurance contracts. Furthermore, you can prepare form 1-S as an XML file that you send to the Ministry of Finance of the Russian Federation.

  • Form 1-SK

    Shows an overview of the activities that insurance companies as a whole perform. You prepare the form each quarter on a cumulative basis and file the form with the State Committee for Statistics (Goskomstat). The form contains details about the insurance premiums that insurance companies collect and the payouts they make following the claims that policyholders file. Furthermore, the form lists an insurance company's activities according to compulsory and voluntary insurance contracts.

  • Form 1-FS

    Show the financial activities of insurance companies. You prepare the form per accounting period and file it with the Ministry of Finance of the Russian Federation. The form shows the accounting balance of the insurance company broken down according to the insurance company's operations in various sectors of the economy, and also the currency in which the operations take place. Furthermore, the form shows the results for both residents and nonresidents of the Russian Federation.

The following reserves are supported:

  • IBNR

    The reserve for incurred, but not reported losses stands for open claims in the background. You must calculate the IBNR for each accounting group separately and the sum of the values is the total value of IBNR. Two calculation methods exist (Formula one and Formula two) depending on whether the insurer has the necessary data about paid losses. You must calculate the unearned premium reserves first, then the earned premium, then the claimed but unsettled losses as a prerequisite for calculating the proper value of IBNR.

  • Stabilization Reserve

    The new product offers you three different calculation methods, for each method you must first calculate the unearned premium reserve, the reserve for claimed, but unsettled losses, and the IBNR. You must calculate the stabilization reserve for each accounting group separately.

    • Method 1 is used for accounting groups 6, 7, 10, 12, 14, 15. For these accounting groups, the calculation of stabilization reserve is obligatory

    • Method 2 is used for accounting groups 1-5, 8, 9, 11, 13, 16-19. You calculate the stabilization reserve for these accounting groups when there is a significant deviation from the average value in the coefficient of established losses

    • Method 3 is used for accounting group 13.1. You are required to calculate stabilization reserve for obligatory motor third party liability insurance

For preparing the forms and calculating the reserves, you use the BEx Analyzer. For more information, see Analysis & Reporting: BEx Analyzer.

For a list of all new objects and their documentation, see BI Content.