International Rating Allows AzRe to Form More than Half of Premiums Abroad

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-