Azerbaijan, Baku, Dec. 19 / Trend , U.Ismayilova/ "The aggregated authorized capital of Azerbaijani insurance companies totalled AZN 110mln in January to October, 2008," Mahir Abdullayev, a sector head of the Azerbaijani Finance Ministry's Insurance Control Department, said on Dec. 19.
"Capitalization requirements for insurers are determined in line with aggregated capital, not authorized capital as it was earlier," he said.
There are 28 insurance and one re-insurance company operating in Azerbaijan. The companies collected a total of AZN 146.41mln of premiums in January to September, with payments amounting to AZN 36.82mln.
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