Azerbaijan offered to participate in European Insurers Association
Association of Insurers of Turkey sent Azerbaijan a draft of Charter for Euroasian Association (or Union) of Insurers. Fuad Alekperov, executive director of Union of Insurance Companies of Azerbaijan, told Trend that Azerbaijans participation in foundation of aforesaid association would be spoken of at Unions session on May 10, 2006.
The idea for establishment of Association (or Union) of Insurers with participation of Azerbaijan, Georgia, Middle Asian countries and Moldova sounded yet in Turkey in December 2004, at the meeting that gathered representatives of Gosstrakhnadzor, insurance companies, unions of Insurance Companies of Azerbaijan, Kazakhstan, Uzbekistan, Kyrgyzstan, Moldova and Turkey.
Turkish association claims to chief at establishment of this structure, but this does not necessitate location of headquarters in Istanbul. The charter draft also states that it may be relocated upon member-countries consent. Alekperov considers Turkey the optimum location as this country is most advanced in insurance market. Turkish experience may also be used to draw insurance regulatory.