Azerbaijan, Baku / Trend , corr. U. Ismayilova/ Jamil Malikov, the director general of one of Azerbaijan's leading insurance companies - MBASK, has said that the development of modern corporate management in insurance companies operating in Azerbaijan will give an impetus for stirring up foreign investment.
"Foreign investors prefer putting their investments with those companies, who win the trust and reliability in the local insurance market, and therefore an insurance company should develop its corporate management for this purpose," he admitted.
According to Mr. Malikov, particular attention is paid to the development of corporate management in a new draft - "On Insurance" to be passed in the near future, the developed management in the company will create conditions to increase authorized capital of an insurance company.
According to Namig Khalilov, the head of Insurance Control Department of the Azerbaijani Finance Ministry, the draft "On Insurance" has been sent for legal examination, and it is expected to be passed by the end of April.