Finance Ministry: Azerbaijan insurance market to break an income record but should improve quality of services
Baku, Fineko/abc.az. Baku hosts 3rd Azerbaijani International Insurance Forum (AIIF), conducted by the Association of Insurers (ASA).
Namig Khalilov, head of the State Insurance Supervision Service under the Ministry of Finance, says that the insurance market of Azerbaijan is going to grow up to record AZN 300 million by the end of 2012 that is a very good indicator for the market.
"With this indicator the share of insurance premiums per capita will exceed AZN 30 ($40), and this is a very good figure. Since last year the insurance market surpasses the pace of growth in the non-oil sector of the economy, and the same trend continues in 2012. The insurance market develops with accelerating pace, and we consider that it is necessary to improve the quality of insurance services," Khalilov said.
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