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Insurance companies of Azerbaijan place investments mainly in bank deposits

Insurance companies of Azerbaijan place investments mainly in bank deposits

04 July 2012 13:12 (UTC +04:00)

Baku. Elnur Huseynguluyev - APA-Economics. At present, the investment portfolio of the Compulsory Insurance Bureau makes AZN 7.5 million, he Bureauâ€™s Executive Director Elkhan Guliyev said at the International Insurance Forum (AIIF), APA reports.

According to him, the funds of the investment portfolio are located in eight banks in Azerbaijan: â€˜The risk is minimal, since we have implemented a rigorous selection of financial institutions. The average interest rate on deposits is 8%â€™, said Guliyev.

Guliyev said that bank deposits are currently the only tool: â€˜It suits us completely, because the interest rates on deposits are quite high. We do not plan to change something in this direction in the next 1-2 yearsâ€™.

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