Azerbaijan, Baku, 29 April / Trend corr. U.Ismayilova / The development of the banking sector in Azerbaijan is promoting the development of the insurance market in the country, Dovlat Salimov, Manager of insurance company StarAlyans, stated.
"Presently banks are the most active sellers within the insurance market," Salimov stated.
Recently, banking credit operations were greatly expanded in the country, banks also insured investments and insurance companies including offering credit for properties.
"Azerbaijani banks are developed in accordance with international standards which results in the development of insurance companies," Salimov stated.
Thirty insurance companies have been operating in Azerbaijan. The joint premiums for 2007 totalled AZN 147.2mln with payments of AZN 35.62mln.
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