The list of foreign insurance, reinsurance and brokerage companies added a Dutch player in this segment.
According to the official website of the State Service for Insurance Supervision, at the end of this month the registry got another foreign insurer - Amlin Europe NV (Netherlands). Thus, the number of insurance companies with foreign capital reached 93 units.
Amlin Europe offers customized solutions and specialized services in risk control / risk management and corporate insurance. To meet customer needs and expectations, Amlin Europe is working in partnership with specialist insurance brokers.
With premiums of more than EUR 600 million (end of 2011) Amlin is one of the leading insurers in their market. Rating valued "A-" (Stable) by Standard & Poor and "A +" (stable) by FitchRatings.
The main activity of Amlin covers the Benelux countries, but coverage can often be also in other parts of the world, for example, through partnerships within the network of an international network of insurers INI.
The number of foreign players in the local brokerage segment increased to 65 by the brokerage firm "IUC Sigorta ve Reasurans Brokerligi AS" (Turkey).
The total number of reinsurance companies included in the register is kept at 39. Foreign individuals who would like to be brokers in Azerbaijan have not been registered.
According to the law " On insurance activity " in the register of foreign insurance , reinsurance and brokerage companies to be included in the structure rated by which Azerbaijani insurers advisable to conduct insurance and reinsurance operations .
According to the same law , the registry must be updated promptly , so that the company can begin on time to participate in the financial market of Azerbaijan.
Registry of the State Insurance Supervision Service was established under the law "On insurance activity". - 17D-
Economics
-
The Azerbaijan-Pakistan Business Forum, held in Baku, showcased the growing economic ties between the two nations, as officials and business leaders discussed enhancing cooperation across key sectors. Ambassador of Pakistan to Azerbaijan, Gasim Mohiuddin, emphasized the long-standing, fraternal relations between the countries, underscoring a shared vision of progress and prosperity.
-
Azerbaijan and Brazil have signed a Memorandum of Understanding (MoU) in the agricultural sector, aimed at stimulating the growth of investments and mutual trade, announced Azerbaijan’s Minister of Agriculture Majnun Mammadov on social networks.
-
The Asian Development Bank (ADB) has approved a loan of USD 131.5 million to enhance a crucial segment of the North–South Corridor in Azerbaijan, aiming to bolster regional connectivity and strengthen Azerbaijan’s strategic position as a key transport hub between Europe and Asia. The total cost of the project is estimated at USD 160.5 million, with the Government of Azerbaijan contributing USD 29 million.
-
The IV meeting of the heads of Energy Ministers from member states and observers of the Organization of Turkic States (OTS) concluded today with the signing of a joint communique aimed at bolstering cooperation in the energy sector. The agreement emphasizes key initiatives including the formation of an OTS Energy Coordinating Committee to streamline regional efforts on energy security and sustainable development.
Leave a review