Bank Of Baku

Azerbaijan to increase requirements on minimum authorized capital of insurers and reinsurers

Azerbaijan to increase requirements on minimum authorized capital of insurers and reinsurers
# 20 June 2013 08:30 (UTC +04:00)

According to him, it’s considered to increase the minimum authorized capital to AZN 10 mln from AZN 5 mln: “Minimum requirement on authorized capital will be increased. We have quintupled this requirement. I think, the insurers has successfully carried out the capital increase”, some of them left the market due to lack of financial funds“.

 

Deputy Minister of Finance Azer Bayramov mentioned that minimum authorized capital for reinsurers will be increased to AZN 20 mln from AZn 10 mln. 

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THE OPERATION IS BEING PERFORMED