SOCAR to act as broker in local insurance market
The Central Bank of Azerbaijan has included another company in the register of foreign insurance brokers.
According to the information posted on the CBA - registry website, this is an anonymous company "SOCAR Sigorta ve Reasürans brokerliği", founded by the state oil company (SOCAR) in Turkey in 2022.
Headquartered in Istanbul, the company with its business center owned by SOCAR (SOCAR Plaza), entered the insurance market of Azerbaijan on April 24.
In other words, from now on, SOCAR will act as a broker in the local insurance market.t. Thus, the number of foreign brokers included in the CBA register has grown to 87.
Prior to that, SOCAR had been represented on the local insurance market. For example, 10% of the shares of the "Atəşgah Sığorta" company belong to SOCAR.
Finance
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Rising prices for electricity, natural gas and heat in Azerbaijan since the beginning of this year may have a significant impact on annual inflation at the level of 0.51 %.
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The Central Bank of Azerbaijan (CBA) forecasts that an average price of a barrel of oil in the world market in 2025 will be $77.3, and the price of 1000 cubic metres of natural gas - $349.
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The Central Bank of Azerbaijan (CBA) forecasts that by the end of 2025 the country's economic growth will be 3.3 %, including the production of gross domestic product (GDP) in the non-oil and gas sector to grow by 5.2 %.
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According to updated forecasts of the Central Bank of Azerbaijan (CBA), annual inflation is expected to be about 5.5 % in 2025 and about 3.8 % in 2026.This is reported on the CBA's website.
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