In 2006 Azerbaijani insurance companies paid off two huge insurance compensations in amount of more than AZN 20 mln (nearly $25 mln). The compensations were paid by Ateshgah and Azal Siqorta insurance companies for only two insurance cases, the Head of the State Insurance Control Department of the Azerbaijani Finance Ministry Namik Khalilov told Trend.
Ateshgah has paid AZN 12 mln for energy risks, and Azal Siqorta more than AZN 8 mln for aviation risks in relation with the crash of РђN-140-100 airplane.
According to Khalilov, increasing the capital of the Azerbaijani insurance companies allows to keep the risks in the country and decrease re-insurance abroad.
It is intended in the new bill to stimulate the companies to re-insure the risks in Azerbaijan. Today our goal is to ensure the confidence because re-insurance is expensive, but important service, Khalilov stressed.