Azerbaijan, Baku / Trend corr U. Ismaylova / The formation of the Supervisory Council of the Azerbaijan Insurers Association will be held in Baku on 22 June, the president of the MBASK insurance company, a member of the organizing committee, Jamil Malikov, said on 18 May.
According to Malikov, the decision was made on 18 May during the preliminary meeting of the management board of the Association which includes five companies (MBASK, Standard Insurance, International Insurance Company, Azersigorta and Ateshgah).
Malikov noted that the meeting of the members of the Association will be attended by twenty-nine insurance companies operating in Azerbaijan.
Each of the five members of the management board of the Association will preside for one year. The president of the Association will be re-elected each year from the member s of the management board.
A part of the budget will be formed of obligatory contributions equally divide among the companies.
The second part of the budget intended for the organization of additional arrangements will be partially formed of regular and targeted contributions, which will be anted up at discretion of the insurers.