Just a few reinsurers and brokers added to the registry of the State Insurance Supervision Service of the Ministry of Finance of AR (http://sigorta.maliyye.gov.az/node/22).
In the reinsurance segment there are 8 novices. The most recognizable brand is Swiss Re Corporate Solutions Ltd. (Dubai branch of the Swiss company). It is also worth noting the presence of the British in the face of Ironshore Europe Limited. The register of foreign insurance and reinsurance companies also includes companies: International Insurance Company IRAO Ltd. (Georgia), Bimeh Iran Insurance Co. (Iran), Starr Insurance & Reinsurance Limited (Bermuda Isles), Qatar Reinsurance Company LLC (Qatar), Emirates Insurance Company (PSC, UAE), JSC ZHASO (Russia). Thus, this list has 159 partners of local insurers.
The number of foreign intermediaries (brokers) has been supplemented by 7 structures - Max Insurance Brokers Ltd., Arthur J. Gallagher (UK) Ltd., Lockton Companies LLP, Alesco Risk Management Services Limited (all are the UK), Aon Central and Eastern Europea (Czech Republic), JLT Sigorta ve Reasurans Brokerligi A.S. (Turkey) and Resolution Insurance Broker, Georgia LLC (Georgia). It is a list of 78 foreign broker companies. Foreign individuals are not represented.
The register of foreign insurance, reinsurance and brokerage companies was established by the Insurance Supervision Service under the law "On insurance activity". Here are companies with high rating, thereby they are allowed to work with local partners to implement the insurance, reinsurance and brokerage operations. --17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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