Azerbaijan, Baku, Feb. 2 /Trend, U.Ismaylova/
During 2011, Azerbaijan plans to create two or three specialized life insurance companies, said the head of the State Insurance Supervision Service under the Ministry of Finance Namig Khalilov.
"Life-companies in the country may be more, as the number of appeals to the State Insurance increases, including on an oral basis," Khalilov said.
At present, there are only two companies specializing in life insurance - Atesgah Heyat and Qala Heyat. These companies may not cover all physical and legal entities operating in the country. JSC Pasha Heyat Sigorta is expected to receive a license to start insurance activities in January.
According to the insurance market participants, the potential of market for life insurance can cover at least ten companies.
Official rate on Feb. 2 is 0.7961 AZN/USD.
