The fifth Azerbaijan International Insurance Forum, organized by the Azerbaijan Insurers Association and supported by the country's Ministry of Finance, was held in Baku earlier this month.
More than 250 representatives of domestic and international companies attended the discussions on opportunities for cooperation in the global, regional and local insurance markets.
"Since the insurance sector increased by six times in the past eight years, this sector reached $543 million, increasing by more than two times during the most recent years," Azerbaijani Minister of Finance Samir Sharifov said.
Sharifov also said that the share of average insurance payments in GDP has increased from 0.41 percent to 0.71 percent, the total capital of insurance companies has reached $463 million--increasing by nearly nine times--and the net income of the insurance market has meanwhile reached $84 million.
Among the participants were insurance and reinsurance experts from the UK, Germany, Belgium, France, Austria, Romania, Turkey and Russia.
Topics covered ranged from perspectives of the regional insurance market and new business directions to reinsurance solutions for insurance markets in the region, medical insurance, life insurance, car insurance and risk management.
- ASIAN DEVELOPMENT BANK: ADB, Tonga Sign Grant Agreement for Ongoing Urban Project
- ANELIK BANK - ARMENIA: Order a free Idram Rocket Visa Card and get 2 KinoPark invitations
- ACBA-CREDIT AGRICOLE BANK: French-Armenian Doctors Program in Tavush
- CENTRAL BANK OF AZERBIJAN: On results of deposit auction on attraction of funds by the Central Bank
- CARTUBANK - GEORGIA: Card tariffs
- ASIAN DEVELOPMENT BANK: ADB President Reaffirms Strong Support to Maldives
- ROSBANK - RUSSIA: Rosbank will keep zero service fee for money transfers via Faster Payments System
- BELARUS MINISTRY OF FOREIGN AFFAIRS: Ambassador of Belarus V.Kolesnik meets the Deputy Secretary-General of ASEAN
- BANK OF GEORGIA: The Bank of Georgia has received the Global Finance Award for "Best Internet Banking for Businesses in Central and Eastern Europe"
- FIRST UKRAINIAN BANK - UKRAINE: FUIB doubled sales of OSAGO insurance policies