Azerbaijan changes format of insurance sector presentation in Baden-Baden
Azerbaijan, Baku, July 30 / Trend I. Khalilova /
The Azerbaijan Insurers Association decided to present the capabilities of the insurance market in 2013 within the annual symposium and forum of reinsurers and brokers in German Baden-Baden independently, Association chairman Orhan Bayramov told Trend today.
"The first meeting was organized jointly with the Romanians, and it was held in a buffet format," he added. "This year Azerbaijan will organize the event independently, although the proposals were received from Romanian and Turkish insurers to host the event together, but it is time for holding own event."
This decision is connected with the fact that today the Azerbaijani insurance market has accelerated the pace of development, and the market becomes interesting for foreign investors who can bring not only investments in Azerbaijan, but also the experience.
The organizational issues in connection with the beginning of the preparatory work, the format of the event of Azerbaijani insurers, the list of companies that will participate in the event were discussed at the last meeting of the Azerbaijan Insurers Association's Supervisory Board.
"It is planned to pay a visit to Baden-Baden to resolve these issues in late August," Bayramov added.
The forum of reinsurers and brokers, which takes place in Baden-Baden annually at the end of October, is the largest international event on planning and implementation of the reinsurance activity, estimation of current trends in the international insurance.
Currently, around 28 insurance and one reinsurance companies operate in Azerbaijan. All of them are Azerbaijan Insurers Association's members.