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Baku Office of Russian Insurance Company Eager to Become Perfect Insurance Company

Business Materials 25 April 2008 20:55 (UTC +04:00)

Azerbaijan, Baku, 25 April / corr Trend U.Ismayilova / The big Russian insurance company ROSNO, which held the presentation of its Baku office on 25 April, intends to establish a perfect insurance company in the near future on the basis of its representation, Dmitriy Popov, the Deputy Director General of ROSNO, said in Baku on 25 April. In the first stage of its activities, the company will render only the re-insurance services.

"As soon as we enter the market fully and got closely familiar with it, we will change the representation into a company, Popov said.

Founders of this huge Russian insurance company are Allianz SE, which purchased 97% of the company's stock in February 2007.

"Though the representation of ROSNO in Kazakhstan was changed to a proper company only after six years of its functioning, I think the process in Azerbaijan will occur a bit earlier taking into consideration dynamic growth of the Azerbaijani market," Popov said.

The correspondent can be contacted at [email protected]

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