AzRe celebrated its 10th Anniversary in Baden-Baden

20 October 2017 — Olesea ADONEV
az_re_10aniThe Azeri reinsurance company AzRe hosted an official reception at the Annual Baden-Baden Reinsurers Meetings dedicated to its 10th anniversary.

Thus, AzRe Evening took place on 22 October 2017, gathering more than 170 regional and international specialists and clients from all over Europe, CIS, Gulf Countries, Middle East, North Africa and other regions.

Throughout the decade, AzRe Reinsurance was able to extend its cooperation from the local to the international markets, by offering complex reinsurance services to companies outside Azerbaijan: "We started with a capital of USD 2 million (local currency equivalent) and no premiums. For the being time, we have consolidated our Group, which consists from 2 insurance companies and one reinsurer with net assets worth USD 80 million and gross written premiums of USD 46 million. We were rated for the first time by A.M.Best in 2014", stated Fuad KULIYEV, Chairman of the Management Board, AzRe Reinsurance.

AzRe Reinsurance main lines of businesses of are property and engineering, liability, motor and personal.

Regarding the new regions with potential of business and the main goals till the end of this year, Fuad KULIYEV pointed out: "We intend to expand into other territories, beyond our immediate neighboring countries like Iran, Russia, Georgia and Turkey. On the same note, the main goal for us now is diversification and that means not only internationally (so long as we see the right return), but also domestically into different lines of business and the life and health markets".

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