Bank Of Baku

Azerbaijan determines minimum amount of capital for insurance and reinsurance companies

Azerbaijan determines minimum amount of capital for insurance and reinsurance companies
# 14 February 2014 13:37 (UTC +04:00)

APA-Economics reports that AZN5 million has been set for non-life insurance.

 

Minimum amount for life insurance will be AZN5 million by January 1, 2015, AZN6.5 million from January 1, 2015, AZN8 million from January 1, 2016, AZN10 million from January 1, 2017, AZN10 million for newly-established insurance companies.

 

The amount is set at AZN20 million for reinsurance activity and newly-founded reinsurers, AZN2.5 million for reinsurance activity from March 1, 2014, AZN5 million from January 1, 2015.

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