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Azerbaijan hosts First Insurance Olympiad

18 September 2010 11:24 (UTC +04:00)

Baku. Elnur Huseynguliyev - APA-Economics. Today First National Insurance Olympiad will be held in Baku by the organization of Azerbaijan Insurers Association (AIA) and State insurance Control Department of Ministry of Finance, APA reports.
30 representatives from 10 insurance companies functioning in the country participate in the Olympiad. The results will be known at the end of this day. Director of Corporate University Sartan Galina will hold 3-hour training on â€œEstablishment of commands comprising agents at insurance companiesâ€.
Delivering keynote speech at the event AIAâ€™s Executive Director Gafar Majidov noted the importance of Olympiadâ€™s special role and contribution to create an idea on insurance business in not advanced specialists. â€œAll participants of the Olympiad are the youth. The Olympiad proves to young insurers the unity of organized trade. In such a manner we found the basis of new traditions in the economic sphere of Azerbaijan. Within last 10 years finance sector of Azerbaijan, as well as sphere of insurance activity is developing continuously. The main purpose of this Olympiad is to continue this development tendency in insurance sector in futureâ€, Majidov said.
Chief of State insurance Control Department Namig Khalilov noted that Olympiad would be held each year and become traditional.
Deputy Chairman of Management Board of the AzRe Reinsurance Company Vusal Abbasov attended the event as well. To him, within last 4-5 years Azerbaijanâ€™s insurance trade is developing day-by day: â€œOne of the main achievements is acceptance of law on â€œInsurance activityâ€. Moreover, insurance risk increases as a result of growth insurance sector. For this purpose difficult reinsurance programs must be prepared for insurance companies. I hope that as a result of such Olympiads, each participant will contribute to the preparation of these programs in futureâ€.
Note that, major sponsor of the Olympiad is AzRe Reinsurance Company.