On account of the reinsurance company AzRe Tekrarsigorta by 1 June this year, there was 35 million 953 thousand manats. As reported in the ongoing in Baku VI Azerbaijan International Insurance Forum (AIIF-2015) by Chairman Fuad Guliyev, it is about 19.3% of the total charges on the scale of the local insurance market (207 million 626 thousand manats).
This is somewhat higher than the traditional "Champion» - Pasha Insurance, and even its record to June 1 last year was surpassed 5%. According to the chairman of the board until the end of the year it is planned to increase fees at the same rate.
By the way, the company has 45% of its portfolio formed by the local market, while 55% is received from foreign markets, and it's all thanks to the high international rating, due to which it became possible to extend the geographical coverage. After receiving a rating AzRe got a chance to enter the markets of the Middle East, Kazakhstan, Uzbekistan, Russia, Belarus and Ukraine, where in honor customary requirements for a rating.
Recall that in 2014 the agency AM Best has assigned AzRe Tekrarsigorta a credit rating at BBB-, the company's financial strength rating at B +. --17D-
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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