JSC Gala Insurance, whose owners bought the assets of the British company Chartis Azerbaijan, has become part of the Compulsory Insurance Bureau (CIB). Now their number has reached 16.
According to the CIB, the new member has made an application for the provision of services of the compulsory insurance of real estate, as well as civil liability in connection with its operation from January on.
In this regard, the company appealed to the Ministry of Economy and Industry for a license issued by the Service ASAN. This financial entity has a perpetual license, which should be amended now.
The company has no plans to enter the retail market and will operate until the corporate segment of the insurance market.
Recall that in September, the only local reinsurance company AzRe bought Chartis Azerbaijan, practically inactive for about two years, for 6.5 million manats. As of November 1, the company collected premiums of 62.13 thousand manats with payments of 53.34 thousand manats. ---17D-
Economics
-
Kazakh Energy Minister Almasadam Satkaliyev said on Monday that Kazakhstan and Azerbaijan continue to discuss prospects for transporting Kazakh oil through the Baku-Supsa oil pipeline, which has been idle since spring 2022, Kazakh media reported.
-
The supply of Azerbaijani gas to North Macedonia will transition to a regular basis in the mid-term, an informed source told Turan.
-
In Azerbaijan, the minimum consumption basket may be reassessed next year. This was discussed during a joint meeting of parliamentary committees. The last changes to the consumption basket were made a decade ago. However, during this period, inflation has risen, and the cost of the minimum living standard has also increased. Moreover, some experts believe that the current minimum consumption basket in Azerbaijan requires significant updates, with the inclusion of additional goods and services.
-
Azerbaijan's draft state budget for 2025 prioritizes strategic objectives outlined by President Ilham Aliyev, including economic growth, social development, and reconstruction of liberated territories, according to senior officials speaking at a parliamentary session on Monday.
Leave a review