AZERBAIJAN eyes higher insurance market share in non-oil GDP

The government of Azerbaijan plans to increase the share of the insurance market in the country's non-oil GDP to 1.4 percent until 2020, said the Strategic Road Map for Development of Financial Services in Azerbaijan.

Azerbaijan's Financial Markets Supervision Chamber, which regulates the insurance market, said that the share of the insurance market in GDP was only 0.8 percent in late 2015.

"Despite stable growth of the insurance market in recent years, its impact on the economy and the financial sector of Azerbaijan is minimal," the document said. Read the full story

Related articles

AzRe's A.M. Best rating affirmed

A.M. Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" of AzRe Reinsurance, OJSC (AzRe) (Azerbaijan). The outlook of these Credit Ratings (ratings) remains stable.