Results of the International Insurance Forum AIIF-2015 in Baku

The sixth Azerbaijan International Insurance Forum (AIIF-2015) has completed in Baku. It was organized by the local association of insurers with financial support from the Ministry of Finance of Azerbaijan.

The most important achievement of the event was the decision on the necessity of state support for agricultural insurance, as expressed in the preparation of the bill with the assistance of the best foreign experts. In addition, Finance Minister Samir Sharifov has promised regulatory methods to implement stricter rules and ways of regulating the activities of intermediaries in the insurance market. The trend of consolidation of the local insurance market, with a gradual withdrawal of a party with low capitalization, is continued.

Emphasis was placed on the introduction of new business areas, and this applies to both mandatory and voluntary types of insurance are considered investment opportunities, the specific risks and insurance coverage for insurance of the property in view of its potential. Reinsurance (the country has a specialized company) technology, fuel and energy risks, the trends in the global reinsurance market and their use in the local environment has also been the focus of foreign and local experts.

Recall that the forum was attended by over 250 representatives from 70 companies from more than 25 countries. Of these, 101 people are foreigners. The forum was also attended by representatives of international organizations and various professional associations. --17D-