TURKMENISTAN: Steps forward to create a single insurance information network
In designing its reinsurance programe, the company cooperates with large insurance brokers of the London insurance market as Marsh Ltd, AON Ltd, Colemont Ltd, HSBC and Willis Ltd.
The law 'On insurance' entered into force in Turkmenistan in 2013, defining its foundations as a direction of entrepreneurship.
According to the Law provisions foreign investors (insurance companies, reinsurers, insurance brokers) shall be entitled to undertake insurance, reinsurance and brokerage activities through the establishment of joint ventures and upon obtaining the relevant license. The share of foreign capital (investor) in joint insurers, reinsurers and insurance brokers should not exceed 49 percent of the charter capital.