Azerbaijan, Baku, June 5 / Trend U. Ismayilova /
Cancellation on the Azerbaijani second international insurance forum is logic decision in terms of world financial-economic crisis, the Azerbaijani ministry of finance's state insurance control department head Namik Khalilov said on June 5.
"I think this decision will not affect image of the Azerbaijani insurers association. Earlier the association announced about this forum to be held annually," Khalilov said.
Image of the association is not formed on the basis of meetings of the international forum. It is formed on results of daily laborious work, he said.
He found difficulty t forecast continuation of this tendency next year. Everything will depend on situation on the market, he said.
Supervision council of Azerbaijani insurers association decided to cancel the Azerbaijani second international insurance forum on June 5. The forum was planned to be held in July. Such a decision was connected with reduction of world insurance market.
The Azerbaijani first international insurance forum organized by Azerbaijani insurers association was held under support of the ministry of finance in Baku in July 2008.
The forum was dedicated to tendencies of Azerbaijani insurance market development, impact of experience of insurance market of European countries on development of insurance sector, development of life insurance, analysis of insurance market as part of financial system of the country and corporative governance in insurance.
Representatives of Poland's reinsurance society, SFS company, Russia insurance society, Moscow representation of Cologne reinsurance joint stock society, Allianz CJSC, ROSNO insurance company, Ingostrakh, etc. participated the forum.
Azerbaijani insurers association was established in December 2006. The association includes all operating insurers. Supervision council of the organization includes five insurance companies of Azerbaijan - MBASK, Standard Insurance, the International Insurance Company, Azersigorta, Ateshgah.
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