Over the first 9 months of 2006 a total of l23,157,6mln manats was remitted for re-insurance of 30.99mln manats through the distribution of instance risks in order to increase the reliability of the insurance provision in accordance with Azerbaijan existing legislation in the sphere of insurance. The Azerbaijani Ministry of Finances informed Trend that the insurance companies received 3.74mln manats in commissions from the re-insurance of risks, which makes up 12.1% of payments for re-insurance.
The share of foreign re-insurers in this sum was 85.1% (26.36mln manats). The funds paid by the foreign re-insurance companies for rendering of services constituted 41.1% of the insurance payments.
In this period the share of foreign re-insurance companies in the implementation of insurance payments made up 23.33mln manats or 63%.