AIA elects new Board Chairman
Azerbaijan, Baku, Oct. 14 / Trend A.Akhundov /
The general meeting of founders of the Azerbaijan Insurers Association (AIA) re-elected Ateshgah Sigorta Chairman Azer Aliyev the new chairman of the Association's Board for next two years, the AIA reported.
The agenda of the meeting, which was attended by 27 founders, included five items.
The meeting discussed reports on the AIA's activities in the third quarter of 2010, financial reports on the repayment of debts of the fourth quarter of 2009 through the 2010-budget, financial reports on 2010, the insurers' debt to the AIA and the election of new chairman to the AIA.
The general meeting appraised Aliyev's activity as Chairman of the Supervisory Board [he was elected for a second term], and its success in this area.
The AIA Board made a number of decisions at its meeting held on Sept. 28, 2010. The meeting decided on expediency of charging Aliyev in realization of the association's long-term projects.
"Taking into account the above, all other candidates declined to participate in the contest for the Board Chairman post in favor of Aliyev. Thus, Aliyev was elected for the next two years," the report said.
The association was founded on Dec. 29, 2006. The main purpose of the association is to assist the development of insurance companies and re-insurance companies operating in Azerbaijan and their socio-economic, informational and other programs to enhance their knowledge in these areas.
According to the charter, each of the five members of the Supervisory Board chairs the Association alternately for a period of one year. The first chairman of the Association was Kamal Ibrahimov (Standard Insurance), second - Jamil Melikov (former chairman of MBASK).
There are 27 insurance and one reinsurance company in Azerbaijan.
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