Bank Of Baku

Azal Sigorta restores licence

Azal Sigorta restores licence
# 23 June 2010 11:30 (UTC +04:00)
Note that, Azerbaijan Ministry of Finance unlicensed the Amrah Sigorta, Gunay Sigorta and Azal Sigorta Insurance Companies from May 7, 2010.

The requirement of minimum total capital for insurance companies was AZN 2 mln as of January 1, 2010. It will be AZN3.5 mln for January 1, 2011, AZN 5 mln for January 1, 2012. The requirement of minimum total capital for new established insurance companies is AZN 5 mln.

Owned by Azerbaijan Railways Azal Insurance company has been in operation since 1995.
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