The list of foreign insurance, reinsurance and brokerage companies added another player in this segment .
According to the official website of the State Insurance Supervision Service, on September 11 the register got a new reinsurer - Gunesh Sigorta A.S. (Turkish Republic). Thus, the total number of reinsurance companies on the roster reached 39.
The number of insurance companies with foreign capital kept at 93 units.
The number of foreign players in the local brokerage segment increased to 65 by the brokerage firm IUC Sigorta ve Reasurans Brokerligi AS (Turkey).
Foreign individuals who want to be brokers in Azerbaijan have not been registered.
According to the law "On insurance activity," the registry of foreign insurance, reinsurance and brokerage companies is to include companies highly rated, by which Azerbaijani insurers would be advisable to conduct insurance and reinsurance operations.
According to the same law, the registry must be updated promptly, so that the company could begin on time to participate in the financial market of Azerbaijan.
The registry of the State Insurance Supervision Service was established under the law "On insurance activity." -17D-
Economics
-
The construction sector is undergoing significant reforms that are reshaping urban landscapes, driving economic growth, and creating jobs, said Namik Gummatov, First Deputy Chairman of the State Committee for Urban Planning and Architecture.
-
Starting today, manufacturers and sellers of food and agricultural products can submit offers on the website tedaruk.az, aligning with public procurement requirements for 2025. The submission window will remain open until September 1.
-
Recent reports and interviews indicate a noticeable rise in tomato prices in Azerbaijan over the past few months, primarily driven by market monopolies rather than external factors such as fuel costs or weather conditions.
-
Azerbaijan's agricultural sector produced goods worth 6 billion 19 million manats in the first half of 2024, a 0.3% increase compared to the same period last year, according to a report by the State Statistics Committee (SCC). The report highlights a mixed performance across various agricultural segments, with livestock production seeing gains and crop production experiencing a decline.
Leave a review