Azerbaijani Insurers Association expands market researches

Business Materials 30 September 2011 22:06

Azerbaijan, Baku, Sept. 30 /Trend, A.Akhundov/

Azerbaijani Insurers Association (AIA) will continue to study the country's insurance market, AIA executive director Azer Aliyev told reporters on Friday. Previously AIA conducted a study of local market of health insurance and, based on it, prepared recommendations.

"The essence of the research is to examine the most problematic sectors of the market in order to understand the situation. The research of the medical insurance market - this is the beginnings of what we will do in the future," said Aliyev.

He said in 2012, AIA will pay more attention to improve qualifications of the insurance workers.
"Our two-year strategy adopted last year has identified two major directions of activities of the Association - that is to propagate insurance among the population and improve the academic knowledge and professional skills of insurers," said Aliyev.

There are 28 insurance and one reinsurance companies in Azerbaijan. In this case, the license of the Fidan Sığorta Insurance Company has been suspended temporarily. All companies are members of the Association.