Business Insurance will be back online in October. Please check back then to subscribe/register.

All existing subscriptions will be honored. Contact info@businessinsurance.com with any questions.

GLOBAL FOCUS

Azerbaijan: Finance ministry to double requirement for reinsurers' capital

Comments Email Reprints

Draft documents prepared by the Azerbaijani Finance Ministry indicate that the ministry will increase the requirements for the minimum amount of the capital of reinsurers from 10 million Azerbaijani manats ($12.8 million) to AZN 20 million ($25.5 million), Trend News reported.

The capital of insurers seeking reinsurance license should exceed the minimum requirement of AZN 2.5 million ($3.2 million) from Mar. 1 2014 and AZN 5 million ($6.4 million) from Jan. 1 2015.

The Azerbaijani market currently has 28 insurers and one reinsurer, OJSC AzRe Reinsurance.

Read more

More from BI