Alfa Sigorta signs obligatory contract with a foreign reinsurer Gen Re
The insurance company Alfa Sigorta signed an obligatory contract on reinsurance with one of the largest reinsurance companies Gen Re (General Reinsurance AG).
According to the report of the financial structure, Alfa Sigorta attaches great importance to the development of international relations. Improving underwriting work through improving the quality of reinsurance protection, the company attaches great importance to the establishment of partnerships with reinsurers class A. In this regard it concluded obligatory reinsurance contract risks with Gen Re.
Gen Re is a part of Berkshire Hathaway; its capital is $ 14 billion.
Alfa Sigorta received a license to operate in 1997. Its sole shareholder is JSC Bank Technique.
The authorized capital is 7.78 million manat. The company provides more than 35 types of compulsory and voluntary insurance. - 17D-
Economics
-
In 2024, Azerbaijan witnessed significant growth among rapidly expanding enterprises, particularly in the booming non-oil sector. As the government prioritizes economic diversification, companies in industries such as mining, logistics, agriculture, and manufacturing have emerged as key drivers of economic progress.
-
Azerbaijan’s State Oil Fund (SOFAZ) reported a 10.7% decline in revenues from the Azeri-Chirag-Gunashli (ACG) oil field block in 2024, amounting to $740.7 million less than the previous year. Total earnings from ACG from the start of 2024 until January 1 stood at $6.16 billion, down from $6.89 billion over the same period in 2023, according to SOFAZ.
-
The Azerbaijan Land Transport Agency (AYNA) has reduced the average age of taxis from 15 to 7 years in 2024 as part of comprehensive transport reforms aimed at enhancing safety, sustainability, and service quality.
-
Azerbaijan's State Special Communication and Information Security Service (SSCISS) has reported vulnerabilities in the security systems of 857 information resources across state institutions in 2024, marking a 23% increase compared to 2023, according to official data released this week.
Leave a review