AIA discusses holding international insurance forum in Azerbaijan
Azerbaijan, Baku, April 6 / Trend A.Akhundov /
Hosting the Azerbaijan International Insurance Forum will be discussed at the founders' meeting for the Azerbaijani Insurers Association (AIA), to be held on April 14, Supervisory Board Chairman Azer Aliyev told Trend.
"This meeting will make a decision on holding the forum. If the decision is positive, then the time of the event will be announced in the near future. The first forum was held in the summer," Aliyev said.
Baku hosted the first Azerbaijan International Insurance Forum in July 2008 when it was organized by the Association with support from the Finance Ministry.
The forum was devoted to trends in the development of Azerbaijan's insurance market, the European insurance market's influence based on its experience in the insurance sector development, development of life-insurance, analysis of the insurance market as part of the country's financial system and corporate governance in insurance.
In 2009 the second forum was canceled due to significant reductions in the global insurance market.
"If insurers wish to have the Forum, then the AIA will act as the organizer and the insurance company will sponsor it," Aliyev said.
The event is aimed at informing about changes occurring in the insurance market of Azerbaijan and the world, as well as sharing experiences with insurers in other countries.
"Azerbaijan is experiencing a major upturn in the insurance industry and some of these changes go beyond the present knowledge of local insurers. Therefore, communication with foreign experts and establishment of new contacts will help to expand horizons in the insurance sector and in the generation of new ideas," Aliyev said.
Twenty eight insurance and one reinsurance company operate in Azerbaijan. All companies are members of the AIA, established in December 2006.