According to decision, the minimum sum of requested capital of Azerbaijan-based insurers and reinsurers was determined as follows:
Effective dates of providence request of minimum sum of requested capital | Minimum sum of requested capital for insurers | Minimum sum of requested capital for reinsurers |
01.01.2011 | 3 mln. manat | 6 mln. manat |
01.01.2012 | 4 mln. manat | 8 mln. manat |
01.01.2013 | 5 mln. manat | 10 mln. manat |
The influence of world financial crisis on financial situation of insurers and reinsurers, including on development dynamics of insurance markets of the country were analyzed during the adoption of decision.