Azerbaijani insurance company expands reinsurance activity
Azerbaijan, Baku, Nov. 4 / Trend , A.Akhundov /
The Azerbaijani insurance company Pasha Sıgorta has recorded the further growth of its reinsurance business with a growth of capitalization, Board Chairman Nofel Rzayev said, the company reported.
"Traditionally, Pasha Sıgorta was quite active in reinsurance operations, and with the growth of its capitalization, the reinsurance business kept its growth trend. Today, the company's limit retention on one risk exceeds 2.5 million manat, " Rzayev said.
He said the company also can receive major risks from partner insurance companies without limitation.
Rzayev believes this process is complex and requires high technical knowledge from insurance personnel.
Pasa Sıgorta, a member of the Pasa Holding, was registered on March 3, 2006. It provides services to corporate and individual clients on 30 types of insurance.
The official exchange rate is 0.7869 manat to $4 on Nov. 4.