Regulatory Alerts2020-06-18
Determination of the Minimum Required Capital for Insurers
The Board of Directors of the Central Bank of Azerbaijan issued Decision No. 08/2 on March 4, 2020, to establish the minimum required capital thresholds for various insurance operations. The decision mandates that non-life insurers maintain 5,000,000 manat, life insurers 10,000,000 manat, exclusive reinsurers 20,000,000 manat, standard reinsurers 5,000,000 manat, and joint agricultural insurers managing the state system 1,000,000 manat. The Legal Department is further directed to submit the decision for state registration within three days of issuance.
Share