Regulatory Alerts2019-09-01
Resolution on Approving Normative Legal Acts for Implementing the Law on Insurance Activities
The Ministry of Finance of Azerbaijan issued Resolution No. Q-11 on December 21, 2012, establishing detailed rules for calculating insurance company insolvency ratios and certifying senior management, intermediaries, and actuaries. The resolution mandates quarterly reporting of insolvency metrics using specified formulas, repeals three prior ministerial orders, and requires all approved acts to be registered with the Ministry of Justice within three days. Implementation oversight is assigned to Deputy Minister Azər Bayramov, ensuring standardized compliance across all insurance portfolios.
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