6th Azerbaijan International Insurance Forum starts in Baku

6th Azerbaijan International Insurance Forum starts in Baku
# 02 July 2015 08:28 (UTC +04:00)

Organized by Azerbaijan Insurers Association and supported by the Ministry of Finance, the forum will last two days.

Addressing the opening ceremony of the forum, Azerbaijani Finance Minister Samir Sharifov said the developments in the world pose great challenges to the entire financial sector, including insurance sector.

“In recent years, serious steps have been taken toward the development of the insurance sector in the country, and these steps were welcomed by the international financial institutions. Azerbaijan’s insurance sector is stable and it will be stable in the future,” the minister noted.

Sharifov said the number of complaints in the insurance sector fell sharply as a result of the implementation of the Action Plan, adding that the insurance industry will continue institutional building.

Ziyad Samadzadeh, the chairman of the parliament’s Committee on economic policy, spoke about development tendencies in the insurance sector.

The first part of the conference is dedicated to the subject “Insurance-reinsurance market in the current economic realities– new business lines”. “Property insurance in the Caucasus" will be discussed in the second part and "Warranty reinsurance and new methods of underwriting" in the third part.

An official reception and bilateral meetings are planned to be held on the first day of the forum. The event will continue with two seminars on “Car insurance and new technologies for development of market” and "Bank insurance and life insurance".

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THE OPERATION IS BEING PERFORMED