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Azerbaijani insurance market has enough potential for sustainable development

Azerbaijani insurance market has enough potential for sustainable development

Economy
14 September 2020, 13:11 75
Azerbaijani insurance market has enough potential for sustainable development at a new stage in the post-pandemic period, Chairman of the Supervisory Board of the Azerbaijan Insurers Association (AIA) Azer Aliyev said.
Aliyev made the remark at the event dedicated to the new concept of activities of the association, Trend reports.
According to him, the AIA will provide its support to insurers in the direction of the correct assessment of this potential on a fundamental basis.
"The insurance market of Azerbaijan is moving in the right direction. The insurance industry, which is one of the main areas of financial activity, as in all world economies, has also suffered from the COVID-19 pandemic in one form or another," the chairman said.
He stressed that thanks to the model of healthy economic development created in Azerbaijan and timely measures, the insurance market was able to avoid the larger-scale negative consequences of the pandemic.
On September 14, an event has been held dedicated to the new concept of the activities of the Association of Insurers of Azerbaijan and a new approach to insurance by the participants of the insurance market amid the changes related to the pandemic.