
Deputy Minister of Finance considers that insurance laws should receive favorable amendments
The rise in insurance premiums by more than a third (37%) in 2011 and by 67% in the first half of 2012 was due to the mandatory types of insurance and integrated approach to solving the problems of the local insurance market - Deputy Minister of Finance of AR Azar Bayramov said today at the opening of the Azerbaijan International Insurance Forum (AIIF-2012).
According to him, "the positive trend and the high rate of market development will continue and continue."
To ensure the growth of the local market we need to focus on the traditions of agriculture and the insurance of this kind, for huge risks in the rural areas increase the potential for the development of this sector. If the legislation is made certain adjustments, providing incentives for companies that specialize in insuring plants and animals, the market will be waiting for a breakthrough in this area," he said.
"Azerbaijan should join the Green Card system and work on the development of the life insurance market. Today, construction is also a priority and promising area of ??insurance. So the law is waiting for the amendments in these industries to develop and strengthen them," said Bayramov. - 17D -
Economics
-
Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
-
Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
-
Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
-
Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
Leave a review