Mutual interests of insurers and banks to be discussed at II Azerbaijan international insurance forum

Business Materials 21 May 2011 12:26 (UTC +04:00)

Azerbaijan, Baku, May 20 /Trend, A.Akhundov/

Azerbaijan Insurers Association (AIA) is working to develop a program of the Second International Insurance Forum to be held in Baku on July 7-8, AIA executive director Azer Aliyev told Trend.

"We are actively working to identify the speakers. We want them to be representatives of major insurance companies or companies associated with the insurance business from near and far abroad," said Aliyev.

He said the forum is sponsored by 12 local companies, including AzRe reinsurance company, Atəşgah Həyat and Paşa Həyat life insurance companies, AXA MBASK, AZAL Sığorta, Azərbaycan Sənaye Sığorta, A-Group, Başak İnam, Standard Insurance, Qarant Sığorta insurance companies, International Insurance Company and AzərSığorta state insurance company.

"General sponsors are AzRe and international insurance companies. Also, the sponsor of the forum is the Romanian PR-agency MediaX PRIMM, which assists us in organizing the forum.

The main activity direction of the company is the markets of Central and Eastern Europe," said Aliyev.

According to him, one of the main themes of the forum will be laws on compulsory insurance, since active work is conducted in Azerbaijan in this direction.

In July 2010 the President of Azerbaijan Ilham Aliyev approved the law on compulsory insurance on labor ability loss in production. "Currently, the Parliament of Azerbaijan in the third reading discusses the bill on compulsory insurances."

Aliyev said the second topic will focus on life insurance, of which development has accelerated with the introduction of compulsory insurance in the workplace.

Aliyev said the other main theme of the forum will be strengthening the possibility to sell insurance products through banks.

"We want to invite representatives of all banks to participate in the forum, will listen to their views. Insurers, in turn, will talk about what potential the banks have to cooperate with insurance companies," said Aliyev.