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International Insurance Forum finishes - PHOTOSESSION

International Insurance Forum finishes - <font color=red>PHOTOSESSION</font>

08 July 2011 12:11 (UTC +04:00)

According to APA-Economics, the issues on life and private insurance lines â€“ new stimulus for development of market, as well insurance of life and banking were discussed et the second day of forum.

According to director of ING Holdingâ€™s subsidiary company in Turkey ING Emeklilik Jetse de Vries, the development of life insurance market in Turkey corresponds tolife insurance market in Azerbaijan: â€œDevelopment dynamics of life insurance market in Turkey was as it is in Azerbaijan. But, the establishment of private pensions funds was not formed, yet. Azerbaijan has potential opportunities for establishment of private pensions funds and development of life insuranceâ€.

Vries noted that, it needed political stability in the country for involving of foreign investors and acceleration of investment inflow. In this case, ING Emeklilik is ready to invest in that country: â€œAlthough, the share of life insurance in GDP is lower, but tis market has a great potential. We mainly interest in Azerbaijanâ€™s market from the viewpoint of life insurance and private pensions funds. Thereafter, we intend to cooperate with broker companies in Azerbaijanâ€.

Thereafter, Managing Partner of Insurance Training & Consulting Center of Romania Romeo Jantea spoke about development of life insurance segment in the developing markets, as well as establishment of relations with banks and insurance markets.

Note that, officials of Europeâ€™s Â«Challenge GroupÂ», Â«Unity ReÂ», Â«EurasiaÂ», Â«Best ReÂ», Â«Ä°nqosstraxÂ», Â«Everest Advisors UK Ltd.Â», Â«Avrasiya Reinsurance BrokerÂ», Â«Brussels Broker de Asigurare SRLÂ», Â«Kapital InsuranceÂ», Â«JSLÂ», Â«Societe de CourtageÂ», Â«Pioneer Insurance and Reinsurance Brokers Pvt Ltd.Â», Â«AVP ReinsuranceÂ», Â«Transsib ReÂ», Â«MARSHÂ» and other insurance and reinsurance companies attended the International Insurance Forum held on July 7-8, in Baku.

Issues â€œCompulsory Insuranceâ€, â€œLife Insuranceâ€, â€œBanks and their ties with insurance marketâ€ were discussed at the event. Increasing of Azerbaijani populationsâ€™ property, strengthening of countryâ€™s material and technical potential was also focused on at the forum.

The forum was organized by the Azerbaijan Insurers Association (AIA) and Ministry of Finance of Azerbaijan.