The Azerbaijan Insurers Association (AIA) has created a special committee on life insurance in connection with the growth of premiums in this segment. There are 3 companies specializing in life insurance - PashaHayatSigorta, AteshgahHayatSigorta and QalaHayatSigorta.
"Each company will be represented in the Committee by two representatives. As the head of the structure the deputy chairman of PashaHayatSigorta, Niyaz Ismayilov has been appointed," the press release reads. The first committee meeting will be held this week, which will discuss the situation in the market of life insurance and its development prospects.
AIA was founded in December 2006. The main purpose of the Association is to ensure the development of the insurance market of Azerbaijan, as well as the performance of the insurance companies unanimously in the discussion of the problems and prospects of the insurance market. --17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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