December 24, 1998 “American International Group Inc”. (AIG) and Azerbaijan's “Caspian Insurance Company” have set up a joint venture to serve clients in Azerbaijan and Georgia. The company began operating under the name “AIG Caspian Insurance Company”.
By the end of 2020, the total insurance premium of Qala Sigorta OJSC amounted to 32.838.181 manat, and insurance payments – 3.360.761 manat. Thus, OJSC "Qala Sigorta" for the first time since its foundation has become a large business entity.