Azerbaijani insurance company unwilling to enter international markets
Azerbaijan, Baku, Jul.24 / Trend U.Ismayilova, I.Khalilova /
One of the giant insurance companies in Azerbaijan Az Sigorta does not see any need to open subsidiaries of the company abroad, Azerbaijan Sigorta managing board chairman Khayal Mammadkhanli said.
It is too early to speak about new subsidiaries abroad, Mammadkhanli added.
There are about 100 types of insurance in the world, while only 15-16 of them operates in Azerbaijan. It is too few to enter international markets, Mammadkhanli said.
Az Sigorta insurance operates in the market since November 2006. At present the company has eight branches, as well as 40 regional offices in the country's regions. Az Sigorta offers 28 types of insurance services, three of which are obligatory.
In January to June, Az Sigorta collected premiums worth 5.56 million manat, with 1.95 million of payments.