Large Russian Insurance Company Describes Azerbaijani Market as Attractive for Investments

Business Materials 25 April 2008 19:54 (UTC +04:00)

Azerbaijan, Baku, 25 April / corr. Trend U. Ismayilov/ The Azerbaijan is one of the most attractive counties in CIS from the investment viewpoint and it attracts lot of western players, Dmitri Popov, the first deputy of Director General of the Russian ROSNO insurance company said during the presentation of the company's office in Baku on 25 April.

ROSNO opened its representation in Baku on 25 April. Company will offer only re-insurance services at the early stage.

"The insurance market of Azerbaijan is one of the dynamically developing markets in CIS- fourth to Russia, Ukraine and Kazakhstan," Popov said.

The growth of Azerbaijani insurance market made up 60% as a result of 2007.

"The rapid development harmonizes with the correct system of regulation. All these factors increases the attraction for Azerbaijan, even for our own company as well," Popov said.

The founder of ROSNO is Allianz SE, which purchased 97% of the company's stocks in February 2007.

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