BAKU, Azerbaijan, June 20. Reinsurance can significantly improve Azerbaijan's resilience by minimizing financial risks and contributing to the stability of the insurance market, Senior Client Underwriter for Northern Europe and the CIS, Vice President for Reinsurance at Swiss Re Europe (Germany) Gepa Jansen-Klaus said, Trend reports.
She made the remark during the panel discussion “Insurance under the influence of climate change” within the Azerbaijan International Insurance Forum-2024 (AIIF-2024) today in Baku.
"This not only bolsters the nation's economy, but also offers added security for infrastructure projects and businesses. Reinsurers need to enhance their expertise in this field in order to narrow the difference between projected and real losses. In addition, it is crucial that insurance rates for protection against natural disasters accurately account for all potential risks. This is crucial for ensuring the stability of the insurance market,” she emphasized.
To note, currently, only one reinsurance company - "AzRe Reinsurance" OJSC - is operating in Azerbaijan.
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