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Azerbaijani insurance companies to minimize influence of global crisis

Business Materials 16 February 2009 16:24 (UTC +04:00)

Azerbaijan, Baku, Feb. 16 / Trend , U. Ismayilova/

Azerbaijani insurance companies intend to form and apply programs to minimize the influence of the global financial crisis, Azerbaijani Insurers Association Chairman and MBASK Board Chairman Jamil Malikov said on Feb. 16.

"The Azerbaijani insurance market felt the influence of the global financial crisis. Therefore, it is important to take steps to continue developing the market," he said.

Extra opportunities have been created to develop the insurance market and companies in light of the crisis, Malikov added.

An important measure to develop the insurance market is to create and apply new products, as well as to increase the client base, Malikov said.

The association will strengthen measures to improve the insurance culture in the country by holding international conferences and launching advertisements.

A total of 28 insurance and one reinsurance company operate in Azerbaijan.

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