State Insurance Control Expects Influence of Azerbaijani Insurance Association upon Market
Azerbaijan, Baku / Trend corr. U.Ismaiylova / Namig Khalilov, the manager of the Department of the State Insurance Control of the Azerbaijani Ministry of Finance, stated on 24 May that the Azerbaijani Insurance Association would have a positive effect on the development of the insurance market of the country.
The Association was registered in the Ministry of Justice in April.
The Association held its first meeting on 18 May. The MBASK insurance company, the Standard Insurance, the International Insurance, the Azersigorta Insurance and the Ateshgah insurance companies unite in the Association. The election of the Control Council of the Azerbaijani Insurance Association will be held on 22 June.
The foundation of the Training Centre is an essential step in the developing of the insurance market in the country.
The Association will also affect the relationship among insurance companies of the country.
Presently, twenty-nine insurance companies operate in Azerbaijan.