Azerbaijan, Baku, December 24 / Trend , U.Ismayilova /
As part of plans to expand activities, the Turkish representation of the French insurer Axa Group can purchase one of the Azerbaijani insurance companies in 2010, Director General Kemal Ererdi said in an interview with Reuters. "We are interested in buying a company in Azerbaijan and we are working on it. It seems that we will complete our work in 2010," he said.
Ererdi did not speak about the company with which negotiations are held. "We are not limited with opportunities in the domestic market, we plan to expand our activities in the Turkic-speaking states and their bordering countries, using Turkey as a platform," he said.
"Turkey is very important for French Axa Group as a regional platform," said the Director General of the Turkish representation of the Axa Group.
The State Insurance Supervision Service of the Ministry of Finance of Azerbaijan told Trend on Dec. 24 that such a request has not yet been made by the Turkish representation of Axa Group.
"If the company appeals to us, we will consider the proposal. If all the documents meet the requirements of the Azerbaijani legislation, the company will be able to acquire or establish a company in Azerbaijan," said Deputy Head of the Service Mahir Abdullayev.
In Azerbaijan there are 28 insurance and one reinsurance companies. The premiums of the companies in January-October amounted to 138.41 million manat under payments of 42.09 million manat.
AXA Group operates in the world with the highest concentration of activity in Europe, North America and Asia Pacific region. According to Forbes (April 2009), AXA Group ranks the second in the world for the insurance premiums ($156.95 billion) and third place for the assets under management ($936.9 billion).