Association of Actuaries of Azerbaijan Holds Elections for Supervisory Council

Azerbaijan, Baku /corr. Trend U.Ismaylova / On 10 July the public union Association of Actuaries of Azerbaijan held its first meeting of members of the association, said a member of the association, Chief Advisor to Azerbaijan's Finance Ministry, Tofig Memtiyev.

According to him, during the meeting, elections were held for the Supervisory Council, Executive Director and Auditing Committee of the organization.

Doctor of Physics and Mathematics, Bilal Bilalov, was elected as Head of the Supervisory Council.

Memtiyev said that at present the organization has five members with a plan to increase their number in the future.

"The number of members will increase during seminars and training in development of actuary work in Azerbaijan," he said.

The Association of Actuaries of Azerbaijan was registered at the Justice Ministry of Azerbaijan on 25 May.

Actuary is specialist-mathematician who assesses the volume of the insurance tariffs and reliability of the insurer on the basis of statistic data and mathematic methods.