| THE MINISTRY OF FINANCE --------- | SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness ---------- |
| No. 153/2003/QD-BTC | Hanoi, September 22, 2003 |
DECISION
PROMULGATING THE SYSTEM OF SUPERVISORY INDICATORS FOR INSURERS
THE MINISTER OF FINANCE
Pursuant to the Law on Insurance Business dated 9 December 2000;
Pursuant to Decree No. 77/2003/ND-CP of the Government dated 1 July 2003 on the functions, duties, powers and organizational structure of the Ministry of Finance;
Pursuant to Decree No. 42/2001/ND-CP of the Government dated 1 August 2001 providing guidelines for implementation of a number of articles of the Law on Insurance Business;
Pursuant to Decree No. 43/2001/ND-CP of the Government dated 1 August 2001 on the financial regime for insurers and insurance brokers;
Pursuant to Decision No. 175/2003/QD-TTg of the Prime Minister of the Government dated 29 August 2003 approving the strategy for development of the Vietnamese insurance market from year 2003 to year 2010;
Pursuant to Circular No. 71/2001/TT-BTC of the Ministry of Finance dated 28 August 2001 providing guidelines for implementation of Decree No. 42 mentioned above; and pursuant to Circular No. 72/2001/TT-BTC of the Ministry of Finance dated 28 August 2001 providing guidelines for implementation of the financial regime for insurers and insurance brokers;
On the proposal of the Director of the Insurance Department,
DECIDES:
Article 1. To issue with this Decision the system of supervisory indicators for insurers.
Article 2. The system of supervisory indicators for insurers issued with this Decision shall apply to all insurers operating pursuant to the Law on Insurance Business No. 24/2000/QH-10 dated 9 December 2000.
Article 3. Insurers shall be responsible to calculate the supervisory indicators and to forward the results to the Ministry of Finance at the same time as they are required by the current regulations to forward their annual financial reports.
