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Rules on determination of required capital of insurers affirmed in Azerbaijan

Rules on determination of required capital of insurers affirmed in Azerbaijan

14 June 2012 13:25 (UTC +04:00)

Baku. Ali Ahmedov â€“ APA-Economics. Ministry of Finance has affirmed the â€œRules on determination of required capital of insurersâ€. According to APA-Economics, this document regulates calculation rules of required capital of insurer, as well other issues under this legislation.

According to rules, required level of on general insurance sphere of payment ability of the insurer is accounted by two methods â€“ Insurance premiums and insurance payments.

First method covers sum of insurance premiums during reporting period (less certain expenditures), second method â€“ insurance payments during past 3 years.

According to rules, during the calculations of required level of payment ability of the insurer on general insurance sphere, risk capital sum of the company on contracts wil be paid attention.

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