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German Insurers Want to Expand Their Presence in Azerbaijan

Business Materials 16 May 2008 13:46 (UTC +04:00)

Azerbaijan, Baku, 16 May / Trend corr. U.Ismayilova / German insurers are interested in the Azerbaijani insurance market, Folk Zinger, Head of the Marketing and Foreign Trade Department of the Bavarian Ministry of Economy, Infrastructure, Transport and Technologies, stated in the Azerbaijani-Bavarian business-forum in Baku.

"Presently, there are German insurance companies in Azerbaijan and their number are expected to be increased in the future," Zinger said.

In April, the representative of the largest Russian insurance company ROSNO with 97% participation in the capital of the largest German insurance companies in Europe Allianz was opened in Baku.

Zinger said that the German insurance market take leading place in the economy of the country. There are over 100 insurance companies in German.

There have been operating 28 insurance and one re-insurance company with joint capital AZN 628mln in Azerbaijan.

The correspondent can be contacted at: [email protected]

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