Azerbaijan, Baku, 11 July / corr. Trend U.Ismayilova / ROSNO, one of the Russian large insurance companies may shorten the period of familiarization with the Azerbaijani market and will buy one of local companies in 2009, Michael Mumin, the first deputy director of the company's reinsurance department, said in Baku.
Official office of ROSNO in Azerbaijan, which offers reinsurance service at the first stage of its activity, was registered at the Azerbaijani Finance Minister on 15 April. During presentation of the Office, Hannes Chopra, the President of Allianz in the Eurasian countries, said that the company would change its office status into major company after three-year activity in the Azerbaijani market.
According to Mumin, ROSNO signed 35 reinsurance agreements with the Azerbaijani insurance companies and 15 of them were signed after opening the Office, which indicates development of the market and prospects of cooperation.
Mumin said that interests of ROSNO's agreements with the Azerbaijani insurance companies amount to 10% and it's the third place after Russia and Kazakhstan.
Allianz SE, which bought 97% of shares of the company in February 2007, is founder of ROSNO, the Russian large insurance company.
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