The insurance company AXA MBASK, taking into account its achievements and the dynamics of development, has been awarded the national prize UGUR in nomination "For contribution to improving the culture of insurance."
As stated in the press release, the premium UGUR was established in 2000 by the magazine Consulting & Business - the leading business publication covering issues of economics, law, development of private enterprise in the country. Consulting & Business, published since 1996, has become a popular edition of economists, politicians, managers and business people of Azerbaijan. The premium is received by top organizations, companies, prominent individuals who have made significant progress in their field and were able to make a significant contribution to the development of Azerbaijan.
Receiving the award at the ceremony, First Deputy Chairman of the Board of IC AXA MBASK, Selcuk Adygyuzel in his speech spoke about the achievements of the company in recent years, highlighting the company's activities aimed at the development of the local insurance market and the provision of high quality public insurance services that meet the requirements of time.
As part of a global insurance group, the insurance company AXA MBASK since 2010 began the process of implementation of international standards AXA into existing business processes of the company. So, embodying the development plan for sales through a network of insurance agencies, in a short term about 80 points of sale of insurance policies oriented to work with individuals and legal entities, as well as with financial institutions of all types of insurance, were opened throughout Azerbaijan.
This is the eighth award of the company since entering the market. So, in addition to the above awards AXA MBASK received the national award Azeri Business Award-2014 in the nomination "Leader of the insurance industry", the international prize Caspian Energy Integration Award-2014 in the category Company of the Year for its high quality services, as well as the international award Caspian Energy Integration Award ( 2013 and 2011) in the category Insurance Company of the Year.
In addition to these awards, AXA MBASK has been awarded the national prize Azeri Business Award-2013 in the category Insurance Company of the Year and the national award UGUR "Contribution to the use of international experience in the insurance market of Azerbaijan" (2010) and Insurance Company of the Year (2012 ). --17D-
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review