Regulatory Alerts2024-02-06
Regulation on the Content, Form, and Submission of Actuarial Opinions
The Central Bank of the Republic of Azerbaijan mandates standardized actuarial opinions for all insurers, detailing required calculations for reserves, premiums, capital adequacy, and liability tests. Responsible actuaries must prepare these opinions using a prescribed form and submit them electronically with enhanced digital signatures within seven working days of quarterly or annual reporting periods. The regulation also outlines specific concentration measurement methodologies, data sufficiency requirements, and recommendations for maintaining financial resilience and solvency.
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