AzRe celebrated its 10th Anniversary in Baden-Baden

The 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".

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

Inclusive insurance on the agenda of the second CEE & SEE - Regional Actuarial Insurance Conference in Skopje, Macedonia

Insurance should be accessible to all social classes, regardless of their wealth and income status. Products offered today are conventional insurance products, largely inspired from the developed markets as "one-size-fits-all" solutions, affordable to only middle- and high-income clients in the Eastern Europe's emerging & developing markets. The low insurance penetration rates across the region show the need for another approach.


FIAR 2019: Register before 30 January and save 40% of the attendance fee

To the satisfaction of its traditional guests, FIAR returns in 2019 to its historical hometown, Sinaia. The forthcoming edition will benefit from the comfort and professional facilities of a new venue, the Conference Center of the International Hotel ****, located in the heart of the beautiful mountain resort. Registration is opened at a significantly discounted early bird rate until 30 January.



Lloyd's of London announced new members to the Council

Lloyd's of London announced that Albert BENCHIMOL and Victoria CARTER have been appointed respectively External member and Working member of the Lloyd's Council with effect from 1 February 2019. Michael WATSON, currently on the council, has been re-elected as External member.



Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.


IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.


See all