Azerbaijan, Baku, 25 April / corr. Trend U. Ismayilova/ Entrance of the ROSNO, a big Russian insurance company, to the Azerbaijani insurance market is a strategic step by the Company, Hannes Chopra, the President of Allianz in Eurasian countries and general director of ROSNO said in Baku during the presentation of the Company on 25 April. ROSNO was founded by Allianz SE, which bought 87% of company's shares in February 2007.
"The Company intended to enter Azerbaijani market several years ago, but the founders decided to enter Azerbaijani market only in 2008 after they analyzed it," Chopra said.
Chopra said that the Company decided to open its representation in Baku after the results of the operations of Azerbaijani insurance companies for 2007 was divulged, which revealed a growth of 60% in the market.
"We hope that Azerbaijani insurance market will have good results in the following years as well," Chopra said.
According to Chopra, it is already known that Azerbaijan is a leader for the rise of GDP (25%) which predicts successful development of the business in this region.
The official representation of ROSNO in Azerbaijan, registered with the Ministry of Justice on 15 April, will operate as re-insurance company at the early stage.
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