30 insurance companies function in Azerbaijan at present

According to the information given to APA from Finance Ministry, 23 of these companies are local and 7 with foreign capital and the sum total regulations capital is 125.7 billion manats at present. The private sector shares 91.1% in the insurance rights.

There are more than 1700 employees in the insurance service markets. It was also informed that, there are problems concerning the weak insurance agent net participating directly in fulfilling insurance activity, signing contracts with juridical and physical persons by the insurance companies, not conducting internal audits in the insurance companies and other problems.