OBS_VALUE: Since 16 December 2020, foreign insurance companies are allowed to establish branches in the RK.  To open its branch in the RK, foreign re/insurer must ensure the existence of an agreement between the authorized regulator of the RK and the financial supervision body of the state, the resident of which is the foreign re/insurance organization. Such agreement must provide for the procedure for the exchange of confidential information constituting a commercial secret on the securities market, bank secrets, insurance secrets or other secrets protected by law, the procedure for cooperation on the opening of a branch of a non-resident insurance (reinsurance) organization, licensing, approval of executives, regulation, control and supervision (including performance audits) and other issues.  Respective amendments to legislation were adopted in 2021 but took effect retroactively as from 16 December 2020. 