Approved by Minutes of the Management Board of OJSC “SIO” No. 115 of 8 September 2025
General provisions
1. The HR Policy of the Open Joint-Stock Company “State Insurance Organization” (hereinafter — the Policy) has been developed in order to build a motivated and highly qualified team for achieving the economic and social results of the Open Joint-Stock Company “State Insurance Organization” (hereinafter — the Company), to make effective use of human resources, to ensure compliance with the law, to develop employees and to shape a favourable corporate culture.
2. The HR Policy sets out the rules and principles of human resources management of the Company. “Human resources of the Company” means all employees of the Company.
3. The Policy is developed or amended and approved by a decision of the Management Board of the Company.
4. Amendments to the Regulation on HR Policy are made on the basis of the results of staff monitoring, the performance of the Company and of the management system.
Principles of human resources management
5. Employee well-being
Employees are the key asset of the Company. The well-being of employees is of paramount importance.
6. Zero tolerance of discrimination and harassment
The Company does not permit discrimination or harassment in the workplace. This includes discrimination on the grounds of age, gender, race, nationality, political views, religion and disability. The complete absence of discrimination is reflected in all human resources processes, including recruitment, professional development and promotion. Zero tolerance also applies to sexual harassment.
7. Recruitment on professional merit only
The search for and selection of personnel for vacant positions is carried out in accordance with the requirements for the level of qualification and professional competence of candidates and for their personal, professionally significant psychological and social qualities. Employees of the Company are recruited both from external and from internal sources.
Qualification requirements for positions in the Company are approved by a decision of the Chairman of the Management Board.
When hiring employees, the requirements of the Labour Code of the Kyrgyz Republic are observed and, where necessary, a probation period is set.
8. Equal pay principle
The core principle of remuneration is equal pay for equal work, meaning the same level of salary for employees holding positions of equal complexity and importance and demonstrating equal levels of performance.
Strategic workforce planning and staff optimisation
9. The main purpose of strategic workforce planning is to anticipate future workforce needs and to prepare employees and the Company for the changes brought about by digitalisation and automation.
10. Job evaluation makes it possible to determine objectively the relative value of each position in the Company. It evaluates the position, not the employee. The results form the basis for developing HR programmes (remuneration, career tracks, organisational structures).
Job evaluation is a mandatory element of human resources management and is carried out whenever changes occur (reorganisation, change of duties, new positions).
11. The necessary and sufficient headcount of units is determined on the basis of their functional tasks and the volume of work performed. Workforce demand forecasting is based on the Company strategy, the system of long-term objectives and the results of staff monitoring.
12. Staff optimisation also involves employee rotation, both internal — job transfers within the Company — and external, that is, dismissal of employees whose qualities and professional competences do not meet the requirements set for a particular job or position.
13. The professional level of employees and the quality of performance of their functional duties are assessed in accordance with the approved procedure for performance appraisal and periodic attestation.
Building an effective system of motivation and incentives
14. The system of staff motivation and incentives consists in ensuring the direct and stable interest of every employee of the Company in achieving the planned performance of their individual work and of collective results and, where possible, in improving results compared with those planned.
15. The basic component of the system of motivation and incentives is the remuneration mechanism, which links pay to work results.
16. Employee remuneration consists of a fixed guaranteed part of the salary in the form of an official salary rate and a variable part, which is a function of the performance of the employee, of their unit and of the Company as a whole.
17. The procedure and mechanisms for remuneration of employees of the Company are governed by internal regulatory documents — the Regulation on Remuneration and Financial Incentives for Employees of the Company.
Establishing and maintaining organisational order
18. The most important condition for achieving the strategic goals of the Company is the unconditional performance by all employees of their job duties, strict observance of labour and performance discipline, the demanding attitude of managers towards subordinates and the unconditional execution by subordinates of orders, instructions and work assignments.
19. Organisational order is the basis of performance discipline: employees know and perform the duties set out in their job descriptions, managers are responsible for decisions taken within their area of responsibility, and planning, reporting and control over the execution of decisions are carried out in accordance with the adopted and approved rules, methodologies and instructions.
20. Rules of labour conduct and ethical standards of business conduct are governed by the Internal Labour Regulations; job duties, rights and responsibilities are set out in job descriptions, regulations and rules of the Company.
21. Organisational order is the basis of the Company activity, and any violation of the requirements of the documents governing it will be regarded as a serious misconduct subject to appropriate economic and administrative sanctions, up to and including dismissal of the employee at fault.
Development of the training and professional development system
22. A high level of professional competence of the employees of the Company must be maintained and developed through a system of continuous training and professional development. The main emphasis is placed on in-house training, which may take various forms: on-the-job training, mentoring, seminars and trainings organised by the Company. The aspiration of employees to raise their qualifications will be supported and encouraged by the management of the Company both morally and financially.
23. In order to identify training needs, the Company regularly carries out staff assessment and attestation procedures, namely:
- attestation is carried out for all employees with the frequency established in the Regulation on Attestation;
- performance of head-office employees is assessed quarterly, as part of the recording and monitoring of current task performance;
- performance of branch managers is assessed annually;
- branch specialists are assessed quarterly by the branch manager.
24. Training is planned and delivered in order to prepare staff to address the tasks facing the Company and to raise their professional level.
25. The training expenses of the Company are approved annually by a decision of the Management Board.
26. Training may be paid for by the Company where there is an operational need. After the training, the specialist is obliged to work for the Company for the period specified in the training referral agreement or to reimburse the Company for the cost of the training.
Shaping and strengthening the corporate culture
27. The corporate culture is strengthened through activities of the Company aimed at fostering in employees a sense of community, belonging to the Company, loyalty and reliability at work. Building a positive image both inside and outside the Company contributes to fostering and promoting a corporate spirit and a positive social and psychological atmosphere within the workforce and in relations with the partners and clients of the Company.
28. The principles of corporate conduct and the requirements for the corporate culture are set out in the Internal Labour Regulations of the Company.
Final provisions
29. In order to implement the HR Policy, the head and staff of the human resources department develop the relevant regulatory documents enabling the stated objectives to be achieved.
30. Control over the implementation of the Regulation on HR Policy is exercised by the Deputy Chairman of the Management Board responsible for HR matters.