Actuaries have become an effective link in financial services. The head of state has approved amendments to the law "On State Duty".
According to the amendments, the state fee for obtaining a certificate of conduct of actuarial activities determined in the amount of AZN 50.
According to the insurance legislation of Azerbaijan, from January 1, 2015 reports of insurance companies must be approved by an insurance actuary, which will be vetted and will receive a certificate at the Ministry of Finance.
Mandatory application of actuarial services in Azerbaijan is introduced for the first time. This profession is not exotic in Azerbaijan - each insurance company has at least one actuary. Representatives of the profession are mathematicians engaged in the development of methodology and calculation of insurance rates, bringing risks to the minimum payments. - 17D-
Economics
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In 2024, Azerbaijan welcomed 3.523 million passengers from 38 countries via air transportation, reflecting a significant 32.1% increase compared to the previous year. According to the State Tourism Agency, this also marks an expansion in reach, with visitors arriving from three additional countries, an 8.5% rise year-on-year.
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As Azerbaijan sets an ambitious trajectory for economic growth in 2025, the country is poised to expand its investment portfolio and develop innovative financial instruments. These efforts aim to create a favorable environment for both domestic and international investors, while steering the economy away from oil dependency toward diversified and sustainable growth.
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In 2025, Azerbaijan will celebrate a series of public holidays and mourning events combining cultural traditions, religious rituals and national commemorations. The calendar, approved by the Cabinet of Ministers, defines significant dates that will provide citizens with the opportunity to honor their heritage, reflect on history, and relax with family and friends.
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The Armenian government reviewed a draft bill on Thursday, January 9, following a petition that garnered 52,000 signatures—surpassing the required threshold of 50,000. The proposed legislation, which has now been forwarded to parliament, has ignited discussions about Armenia’s potential shift toward European integration.
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