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Azerbaijan to liberalize access for foreign investors to insurance market in 2017

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Azerbaijan will liberalize access to the insurance market for foreign investors in 2017, Forinsurer reported.

The country's finance ministry has approved changes to the upper limit of the proportion of foreign capital in insurers' authorized capital. Under the plans, the upper limit of foreign capital until Jan. 1, 2015 will be 50%. This will increase to 70% on Jan. 1, 2015, 85% on Jan. 1, 2016 and 100% on Jan. 1, 2017, Forinsurer reports.

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