By the Cabinet decision dated April 9, 2004, the minimum level of the authorized capital was set at AZN 1m for also new insurers by 2010. APA-Economics ranked Azeri insurance companies for the amount of their authorized capital.
Ranking at January 1, 2007
| Insurance companies
| Paid-up capital (AZN, thousand) |
1 | International Insurance Company LLC | 8 800 000 |
2 | Standard Insurance LLC | 4 000 000 |
3 | MBASK Closed Joint Stock Company | 3 750 988 |
4 | Khalg Insurance LLC | 2 000 000 |
5 | Star Alliance Insurance CJSC | 1 960 800 |
6 | Azersığorta State Commercial Insurance Company | 1 600 000 |
7 | Alfa Insurance LLC | 1 500 000 |
8 | Azer-Asia" Joint Venture | 1 173 863 |
9 | A-Group Insurance CJSC | 1 010 000 |
10 | AzSığorta LLC | 1 000 000 |
11 | Atasığorta OJSC | 1 000 000 |
12 | AIG Caspian Insurance Company LLC | 1 000 000 |
13 | PASHA Insurance CJSC | 1 000 000 |
14 | Ateshgah" CJSC-Joint Venture | 900 000 |
15 | AzAL-Insurance JS | 800 000 |
16 | Fidan LLC | 740 000 |
17 | Bashak-Ä°nam" Joint Stock and Reinsurance Co | 734 195 |
18 | Absheron Insurance JS | 720 000 |
19 | BE&G Insurance OJSC | 710 000 |
20 | Era Trans Insurance LLC | 707 079 |
21 | Günay-Anadolu Insurance JV | 706 587 |
22 | Azərqarant JS | 700 000 |
23 | Qorqud Insurance LLC | 700 000 |
24 | CÄ° Insurance | 700 000 |
25 | Emrah Insurance | 700 000 |
26 | Kavkaz Insurance LLC | 700 000 |
27 | Nishan" JS | 700 000 |
28 | Temz Insurance Group CJSC | 700 000 |
29 | Tural Insurance JS | 700 000 |
|
Total
|
41 413 511
|
The aggregate authorized capital of International Insurance Company, Standard Insurance and MBASK constituted 38% of the total authorized capital of the 29 companies.
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