The list of foreign insurance, reinsurance and brokerage companies listed in the register of the State Insurance Supervision Service under Finance Ministry of Azerbaijan. For example, in the register of insurers and reinsurers included two British companies: Arch Insurance Company (Europe) Limited and QBE RE (Europe) Limited. Thus, the total number of foreigners in this category has reached 161. The British company is the Direct Insurance London Market has expanded the register of foreign brokers - now the number of brokerage firms on the roster has reached 79. Registry was created by the Ministry of Finance according to the law "On insurance activity". It includes foreign insurance, reinsurance and brokerage companies with a high rating. It has been done so that local financiers have relied on leading partners from abroad during the transactions. --17D-
Economics
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The volume of money transfers from Russia to neighboring countries continued to decline in 2024, according to data from the central banks of Kazakhstan, Georgia, Armenia, and Azerbaijan analyzed by RBC. The figures, which account for transactions through banking infrastructure and money transfer systems such as Zolotaya Korona, Unistream, and Contact, highlight a continued downward trend after a surge in remittances in 2022.
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Azerbaijan’s rice imports have surged as domestic production struggles to meet growing demand, underscoring the country’s reliance on foreign suppliers. Despite government initiatives to boost output, local production remains stagnant, with only 10,000 tons expected in the 2024-2025 season, while imports reached 55,961 tons between January and October 2024.
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Azerbaijan and Pakistan have signaled a growing commitment to deepen energy cooperation, with a focus on renewable energy initiatives, as Azerbaijani Energy Minister Parviz Shahbazov hosted a delegation led by Pakistani Federal Minister Abdul Alim Khan in Baku on January 30.
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Oil from Kazakhstan's largest field, Kashagan, has begun flowing into the Baku-Tbilisi-Ceyhan (BTC) pipeline. According to information from SOCAR, the first batch of this oil was received at the Sangachal terminal on January 27 and will be transported via BTC to the port of Ceyhan.
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