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
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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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